The two-year ongoing battle between the Ararat Gold Recovery Company (AGRC, LLC) , owned by the Indian billionaire Anil Agarwal, and the Government of the Republic of Armenia (ROA), appears to have entered its final phase. This is borne out by the statement released by the Press Secretary of the Prosecutor General's Office on August 2 nd confirming that on the same day Gagik Jhangiryan, the Deputy Chieh Prosecutor, lodged a legal action with...
An interview with Vardan Ayvazyan, Minister of Environmental Protection
Interview with B.K. Sharma, Chief Executive Officer of Ararat Gold Recovery LLC
Interview with B.K. Sharma, Chief Executive Officer of the Ararat Gold Recovery LLC
"Alrosa failed to agree on the acquisition of Ararat Gold Recovery Company (AGRC) with Sterlite Industries Limited," Arminfo reported on January 11, 2006. According to the news agency, Alrosa, a Russian diamond mining company, expressed an interest in acquiring the Armenian Gold Recovery Company. They failed to agree on the deal, however.
Armenian partners in the AGRC joint venture were surprised when, after they offered support to Anil Agarwal, there was no collaboration as originally expected, but instead the Indian side simply ignored the Armenians' proposals.
The only desert in Armenia is situated in the Ararat valley. This desert, 1 km long and 1.5 km wide, is manmade, the result of twenty years of work by the Ararat gold processing plant.
An article published on November 25, 2005 on www.mineweb.com, an international mining publication focusing on mining finance and corporate news, suggested that Anil Agarwal, the chairman of Vedanta Resources and Toronto-listed junior miner Sterlite Gold, is likely to lose a major goldmine project in Armenia.
At a discussion held at the Marriott Armenia Hotel on December 2 nd , the Ararat Gold Recovery Company ltd. (AGRC) once again presented its plans for building a gold processing plant near the Sotk mine, twenty kilometers away from Lake Sevan.