International company Avellana Gold has launched the large-scale project for environmental remediation in Zakarpattia
International company Avellana Gold has launched the project to remediate ecology in Zakarpattia. During the official presentation of the project, the company said that it plans to invest more than $ 5 million in the recycling of waste heaps and further reclamation of the Muzhievo field’s site.
Avellana Gold partners from the USA, UK, South Africa and business community representatives, including the European Business Association, UkraineInvest, CDM Engineering Ukraine LLC, and banks, took part in the official launch of the project.
According to Brian Savage, CEO of Avellana Gold, the implementation of the Muzhievo field project improves the investment climate of the country and is strategically important for Ukraine.
“I remember how in 2014 I was watching Euromaidan on TV and realized that important changes were taking place in Ukraine. And now we are here. The launch of this project of Avellana Gold is the physical reminder of our intention to invest, grow our business and be a full member of the local community of Zakarpattia region and Ukraine,” said Brian Savage.
The last time Muzhievo field of polymetallic ores was operating more than 10 years ago. Dumps had been accumulated here for decades, polluting surface water and soil with heavy metals.
“This is the beginning of the solution that has been disturbing the villagers of Muzhievo for over 10 years. This project will be able to recycle 150 000 tons of waste heaps,” said Andriy Smolin, Head of Avellana Gold’s Ukrainian representative office. – This is the first stage now. We are obliged to start with the environmental project, as it is stipulated in our license terms. After that we will be able to begin works on the field in accordance with the legislation of Ukraine”.
Avellana Gold has developed a clean waste heap technology and purchased the modern equipment. Thanks to the special technological scheme of cleaning the dumps it will be possible to realize by 85-90%. The closed cycle of production will allow to reuse 85% of water from the necessary quantity.
“We are now correcting what other companies and people who have worked before us have left behind. However we should say that technologies are moving forward, and we are using the latest experience to utilize these dumps and create the basis for future environmental conservation,” explained Arsen Ilyin, director of the Carpathian Ore Company, which is the part of Avellana Gold.
As Daniel Aspleaf, Managing Director of CDM Engineering Ukraine LLC, mentioned, unfortunately, best international environmental practices are infrequently used in Ukraine: “Waste heaps will greatly improve the environmental situation of the region. I certainly hope it goes forward, because it is very ambitious and it demonstrates that such projects can succeed in Ukraine. This is very imporatant for other foreign investors. Leading by example takes courage”.
The implementation phase of the environmental project will provide 50 jobs. In the future, the company’s activity at full capacity involves the creation of about 500 new job places, with the prospect of the work of enterprise of at least 20 years.
“The activity of new companies which develop innovative projects and invest in Ukraine is the very good signal for both existing investors and potential investors. Avellana Gold creates the large number of jobs where production is actually located, because currently we do not see in the region any big projects or productions where people can work legally in the transparent manner,” emphasized Igor Hotsyk, Head of Representation of Companies Members of the EBA.
About the company:
Avellana Gold is an international investment company engaged in the exploration and development of mineral deposits in Ukraine and Eastern Europe. In 2016, the company restored the implementation of the Muzhievo deposit project. The total volume of investments is over $150 million. The company acquired the companies “Carpathian Ore Company” and “Western Geological Exploration Company”, which have special permits for mining and exploration of polymetallic ores in the Western Ukraine (Muzhievo, Berehovo and Kvasovo deposits).
Avellana Gold has been the member of the European Business Association since 2017; the company has been the member of the British Chamber of Commerce since 2019 and the participant of the Canadian-Ukrainian Trade and Investment Support Project (CUTIS project).