EcoLur
Vallex Group Company had disseminated a press release on the closedown of Alaverdi Copper Smelting Plant. The press release says: “Vallex Group Company informs that the operation of Alaverdi Copper Smelting Plant owned by “ACP” Company was suspended on 19 October 2018.
Since 1 October 2017, despite the maximum permissible concentration of sulfur dioxide in the amount of 5,600 tons, the volume of emissions of Alaverdi Copper Smelting Plant into the atmosphere has made up around 38,000 tons. The company paid 323 million AMD to the state budget for these emissions in 2017, while this figure is 340 million AMD based on the results of the operation from January to September 2018. A part of this money has been returned to the adjacent communities in a statutory manner as a compensation of environmental damage. What is more, that the cause of these mentioned emissions is technological and the only solution is the construction of a technological copper smelting combine demanding large investments based on Alaverdi Copper Smelting Plant.
As a result of the inspections carried out by Environmental and Mining Inspection in August 2018, the company has been imposed an additional fine of 380 million AMD, which refers to the emissions from July 2015 to July 2018. With the same act, it is required from the company to decrease the volume of emissions by 90% by 25 December.
It is impossible to extract sulfur dioxide with the current equipment and technologies available in the copper smelting plant. The construction project of a new plant under Chinese arrangements is currently in the stage of development. In the course of implementing such a complex project, it’s essential to have the support of the government within its roles and competencies and for this purpose, a working group has been established at the government.
At the same time we would like to inform that the VTB Bank has required to pledge the assets and shares of “ACP” Company against the loans taken out of the bank for the construction of Teghout mining complex, nevertheless, the legal processes on the realization of the pledge right of the bank haven’t been performed yet.
The company has reached a difficult decision to terminate the employment contracts with its workers. In the upcoming one-two days, the workers will receive notifications on the termination of their employment contracts based on redundancy. The relevant governmental body will be properly notified about it as well.
October 23, 2018 at 14:24