Today, the use of mineral resources is one of the most pressing issues in Armenia. The environmentalists periodically express concern that the mineral resources of Armenia are used carelessly and irresponsibly . To address this issue, the Government of Armenia in its new Government Program plans respective measures aimed at improvement of environmental protection as well as the effective and responsible use of the resources.
Today, the business conference entitled “Modern Mining in Armenia” held in “Marriott” hotel perhaps was one of those measures.
The purpose of the conference was to establish ties between mining companies of Armenia and well-known American companies. The foreign companies operating in the mining industry suggest technologies and services that increase the efficiency of the mining industry, the safety of workers and help the preservation of nature.
Representatives from seven leading U.S. companies and 35 Armenian mining companies attended the event. The one-day sustainable mining business conference was organized by the U.S. Embassy in Yerevan, in partnership with the Ministry of Economic Development and Investments, the Ministry of Energy and Natural Resources, and HSBC.
Paul Edgar Chief Executive Officer of HSBC Armenia said, “Today, we have invited companies that operate in the mining industry, and we are going to talk about the trends and international approaches in this field aiming to contribute to socially responsible and sustainable development of mining in Armenia.
Brief information related to the sector will be presented, there will be an exchange of experience related to new technologies as well as the HSBC invited expert, Andrew Robison, Head of Commodity & Structured Trade Finance UK & France at HSBC, will present the trade finance solutions offered by the Bank for the customers of mining and their supply chain.”
Paul Edgar is convinced that mining sector is fundamental to many of today’s society’s basic needs. “Its activities range from the exploration and mining of minerals to the complex industrial processes required to manufacture refined metals such as copper, gold or those, which Armenia produces, largely for export.
However, if not managed responsibly, these activities can have an unacceptable adverse impact on people and the environment.
HSBC is a longstanding supporter of the mining and metals sector globally. We ensure that our customers operate in accordance with the international good practice, and minimum standards. If unchecked, environmental damage and climate change threaten the customers, the communities and the environment on which HSBC’s business has been built over 150 years. If HSBC is to successfully help people to fulfill their hopes and realize their ambitions, it has an important role to play in addressing these challenges.”
Andrew Robison spoke about trade financing in mining industry. The expert highlighted the importance of financing in this sector and how the HSBC international presence can help these clients. In his words, with access to funding solutions entrepreneurs are able to produce quality products in large quantities but at a lower cost. Details of Andrew Robison’s speech in the video.
The US Ambassador to Armenia, Richard Mills, believes that mining represents real opportunities for Armenia but these opportunities must be carried out by the employee safety, and nature protection.
As Mr. Mills mentioned, the development of mining must be accompanied by supervision of this sector by the government. Watch the video detailing the ambassador’s speech.