Prior to developing the Amulsar Gold Project, Lydian has prepared a comprehensive Environmental and Social Impact Assessment (“ESIA”). An ESIA is an assessment of the possible positive and negative impacts that a proposed project may have on the environment and communities, together consisting of the environmental, biodiversity, cultural heritage, and socio-economic aspects. The purpose of an ESIA is to ensure that stakeholders are fully informed and decision makers consider the resulting environmental and social impacts, both negative and positive, when deciding whether to proceed with a project.
The ESIA for the Amulsar Gold Project covers the proposed mining of the gold deposits, the heap leach facility, the barren rock storage facility, and all associated mine infrastructure. The development of Amulsar will use conventional open pit mining methods, over a minimum period of 12 years. The mine will be developed in phases with selective mining of ore bodies.
The ESIA has been prepared in line with the Equator Principles (“EP”), which is a credit risk management framework for determining, assessing and managing environmental and social risk in project finance transactions. The EP are based on the International Finance Corporation (“IFC”) Performance Standards (“PS”) on social and environmental sustainability and on the World Bank Group Environmental, Health, and Safety Guidelines (“EHS Guidelines”).
Based on the scope of the Project and the requirements of the EP, the ESIA broadly covers the following:
• The applicable national and international policy, legal and administrative framework under which the assessment was carried out.
• The Project description, covering geographical, ecological, environmental, social and temporal aspects, influences and effects.
• An analysis of baseline data, describing the environmental, biodiversity, socio-economic and human interest setting of the Project plans.
• Review of alternatives for siting various Project facilities, taking into account regulatory, environmental, biodiversity, cultural heritage, social, and community health and safety issues.
• Prediction and evaluation of the potential environmental and social impacts associated with Project construction, operation, mine closure and reclamation.
• Identification of mitigation measures to eliminate or minimize impacts to an acceptable level and identify appropriate alternatives.
• Development of key component management plans to form the overall Environmental and Social Management Plan (ESMP) for the Project.
• Development of a preliminary Mine Closure Plan and measures for post-mining management.
The ESIA was publicly disclosed on May 27th, 2015 in Armenia (Yerevan and the Amulsar Information Center in Gndevaz) and on the Lydian and Geoteam websites. Comments and feedback are welcome using email or the feedback link.
“Click here” for a complete copy of Lydian’s Environmental and Social Impact Assessment (“ESIA”) for the Amulsar Gold Project, published May 2015.