Not all that glitters is gold
Not all that glitters is gold
Author(s): Dylan van de VenSubject(s): National Economy, Civil Society, Government/Political systems, Economic development, Corruption - Transparency - Anti-Corruption
Published by: Kolegium Europy Wschodniej im. Jana Nowaka-Jeziorańskiego we Wrocławiu
Keywords: Gold mine construction; Armenia; Amulsar mountain; company Lydian International; corruption; local protests; regime change;
Summary/Abstract: Lydian International’s half a billion USD dollar goldmine on Armenia’s Amulsar mountain is the largest greenfield mining project ever financed in the country. Poised to be the leading goldmine to open globally in 2018, no gold has yet to be extracted. Nor is it expected that any gold will be mined anytime soon since Lydian entered bankruptcy litigation, is winding up its assets in Toronto, its Canadian headquarters, and was appointed liquidators. The project became marred by allegations of corruption and environmental negligence. The Amulsar project represents the refined practices of state capture as the Armenian elite appropriated foreign funds and multinational corporations exploited resources – ignoring local outcries and breaking international conventions.
Journal: New Eastern Europe
- Issue Year: 2021
- Issue No: 03 (46)
- Page Range: 129-136
- Page Count: 8
- Language: English
- Content File-PDF