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YEREVAN, October 19 – Armenian Minister of Economy Gevorg Papoyan announced today that the Amulsar gold mine is projected to contribute up to $130 million in taxes to the state budget. Speaking to reporters, Papoyan highlighted the project as a “responsible mining industry with minimal negative impact on the environment.”
Minimal Environmental Impact Confirmed by Studies
Papoyan acknowledged that no mine in the world is without environmental impact, but stressed that studies have shown the Amulsar project’s impact to be very small. He dismissed negative narratives surrounding the mine, stating that “not even the minimum of these negative stories about Amulsar have been confirmed by research.”
The Minister emphasized the significant economic benefits of the mining industry, including the creation of thousands of jobs, billions of dollars in tax revenues over the years, and a steady increase in GDP.
Job Creation and Increased Tax Revenue
Currently, the Amulsar mine employs 1,600 people, with plans to create up to 4,000 jobs. Papoyan noted that the projected $130 million in tax contributions could increase further if gold prices rise.
Other News from Armenia
In other news from October 19, 2026:
- Medicine Accessibility: Abrahamyan stated that citizens will no longer have to request medicine from relatives abroad, addressing issues with affordable and quality medication in Armenia.
- Lavrov and Aragchi Meeting: Russian Foreign Minister Sergey Lavrov and Iranian Foreign Minister Abbas Aragchi held bilateral talks in Tehran.
- Green Tea Import: Latvia has not banned the import of green tea from Armenia; a previous report contained an error.
- French Protests: French protesters announced a second phase of protests for October 24, following demonstrations against the rising cost of living.
- Amulsar Activist Protest: A group of activists protested against the operation of the Amulsar mine near the green zone of COP17 in Yerevan.
- Iran’s Agreements with Arab Countries: Iran expressed readiness to sign security agreements with Arab countries.
- Curfew in France: French Prime Minister Sébastien Lecornu ordered a partial curfew after mass unrest over the weekend.
- HASE Lawsuit: The Armenian Apostolic Holy Church filed a lawsuit against the head of the Vagharshapat community, demanding the annulment of a decision to seize 47.5 million drams.
- Damaged Stores in France: Over 2,000 commercial establishments were looted or destroyed during recent unrest in France.
- Peskov on European Crisis: Russian Presidential Spokesperson Dmitry Peskov stated that the unrest in several European countries has turned into chaos, indicating a major crisis.
- Meloni Consultations: Italian Prime Minister Giorgia Meloni convened consultations due to unrest during youth protests.
- Pesticide in Latvian Green Tea: A banned pesticide was found in “Armenian green tea” in Latvia, though the State Food Safety Service denies its Armenian origin.
- New Appointments: Lilit Mkrtchyan was appointed Deputy Chairman of the Higher Education and Science Committee, and Araksia Svajyan was appointed Acting Rector of the Pedagogical University.
- Yerevan Metro Expansion: Yerevan authorities plan to begin construction of the “Ajapnyak” station in 2027.
- Armenia-UN Cooperation: Armenia and the UN World Food Program will expand cooperation.
- COP17 Presidency: Hambardzum Matevosyan was elected President of COP17.
- Gagik Tsarukyan’s Statement: Gagik Tsarukyan declared his innocence in an ongoing case.
- Azerbaijan-Turkey Military Drills: Baku and Ankara began military exercises amid a dispute over the hijab.
The information was provided on October 19, 2026, with the current date being October 20, 2026.
Source: https://golosarmenii.am/arm/papoyan-amulsari-hanqy-minchev-130-mln-d/
