- The Armenian Environmental Front raised concerns about Amulsar mining project negotiations.
- Talks with five Armenian banks reportedly collapsed regarding a $150 million syndicated loan.
- Government decisions are being updated to reflect changes in the list of lending banks.
- The government’s February 27 decision requires amendment following these negotiation changes.
Amulsar Mining Loan Negotiations with Armenian Banks Collapse
The Armenian Environmental Front has drawn attention to a critical development: negotiations between the Amulsar mining project and five Armenian banks have reportedly failed. These negotiations were tied to a $150 million syndicated loan intended to support the mining operations. The banks initially involved included Ardshinbank, ACBA Bank, ID Bank, Inecobank, and Evocabank.
Government Revises Loan Guarantee Details
Due to the collapse of the negotiations, the government has adjusted the details of its budgetary guarantees. Specifically, changes have been made to the content of the budget guarantee established under Government Decision No. 220-A of February 27, 2025. This decision originally outlined the terms and institutions involved in the loan arrangement, but with the withdrawal of some banks, updates were required to reflect the current situation.
What’s Next for the Amulsar Project Financing?
With the shift in the group of lending banks, the Amulsar project’s financing path faces uncertainty. It remains unclear which institutions might step in or how the project will secure the needed funds moving forward. The environmental and financial implications of these stalled negotiations are expected to generate further discussion in the public and media spheres.
Source: Armenian Environmental Front