Responsible Mining in Armenia

RESPONSIBLE MINING IN ARMENIA Ill MINING BUSINESS IS RISKY BUT MANY RISKS CAN BE MITIGATED ACCESS TO GEOLOGICAL INFORMATION INEFFICIENT EXPLORATION LOWERING INFRASTRUCTURE COSTS LARGE INVESTMENTS STABLE POLICY WITHIN KNOWN PARAMETERS INCONSISTENT POLICIES MINING CODES, MONITORING AND EVALUATION ENVIRONMENTAL AND SOCIAL RISKS ARMENIA'S NEW MINING CODE IS ALIGNED WITH INTERNATIONAL STANDARDS UNIFIED LEGAL FRAMEWORK FOR THE EXTRACTING INDUSTRY UNRESTRICTED AND FREE ACCESS TO GEOLOGICAL INFORMATION IMPROVED ENVIRONMENTAL AND SOCIAL SAFEGUARDS ARMENIA'S REVENUES INCREASED SIMPLIFIED PROCEDURES FOR GRANTING MINING RIGHTS NEW FISCAL REGIME ALLOWING TO CAPTURE WINDFALL $17.9 M 2011 PROFITS AS A RESULT, ARMENIA'S FISCAL REVENUES FROM MINING ROYALTIES INCREASED $39 M 2012 x2.5 $45.3 M 2013 The World Bank in Armenia http://www.worldbank.org/armenia