Russian "GeoProMining Gold" Company Intends to Proceed To Underground Mining after Exhausting Reserves in Open Mine

Russian

EcoLur

Russian "GeoProMining Gold" Company, which develops the largest gold mine in Armenia, intends to proceed to the underground mining after the exhaustion of the reserves in Sotq open mine. The public hearings of 'Sotq gold mine underground mining' project will be held at 12:30 on 26 September at Sotq Village Municipality, Gegharkounik Region. "GeoProMining Gold" Company will develop underground mine for 18 years. The revalued ore reserves in Sotq make up 31141.2 thousand tons of ore, 133.5 tons of gold, 175.6 tons of silver - with the concentrations of 4.29 g/t for gold and 5.64 g/t for silver. According to the company project, besides the approved reserves of ore, the company intends to mine 14857.091 tons of ore in an opencast manner with gold concentration of 3.96 g/t. More ore will be mined underground - 16284.109 tons of ore with average gold concentration of 4.58 g/t. The annual productivity will be 1000.0 thousand tons. During the whole period of underground mining, annually 252.5 tons of hazardous substances will be emitted – ore dust, carbon, nitric, manganese, iron oxides, carbon dioxide etc. The watercourse near the mine is the Sotq River, a tributary to the Masrik River, flowing into Lake Sevan. The damage caused to the economy because of the pollution of water resources is estimated in the amount of 494 million AMD per year due to open mining and 817.8 million AMD per year due to underground mining.

18:53 September 25, 2017


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