Avellana Gold Company has launched a project for ecology restoration in Zakarpattia. During the official presentation of the project, the company announced that it plans to invest more than $5 million in the recycling of the waste dumps and further reclamation of the site of the Muzhievo deposit.Avellana Gold partners from the USA, UK, South Africa and business community representatives, including…
Avellana Gold Company has launched a project for ecology restoration in Zakarpattia. During the official presentation of the project, the company announced that it plans to invest more than $5 million in the recycling of the waste dumps and further reclamation of the site of the Muzhievo deposit.
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 representatives, took part in the official launch of the project.
As noted Brian C. Savage, CEO of Avellana Gold, the Muzhievo deposit project implementation improves the investment climate and is strategically important for Ukraine.
“I remember what it was like in 2014 when I saw Euromaidan on TV and realized that important changes were taking place in Ukraine. And now we are here. The launch of this Avellana Gold project is a physical confirmation of our intention to invest, develop our business and be a real member of the local community of Transcarpathian region and Ukraine, ” said Brian C. Savage.
Muzhievo polymetallic ore deposit last time functioned more than 10 years ago. For decades there have been dumps with heavy metals that pollute water and soil.
“This is the beginning of the solution to the problem that has been bothering the residents of Muzhievo for the decades. This is a project that aims to recycle 150,000 tons of dumps,” said Andrii Smolin, head of the Ukrainian representative office of Avellana Gold. - This is the first phase now. We are obliged to start with an environmental project, as it is stipulated in our special permit terms. After that, we will be able to begin work on the deposit in accordance with Ukrainian legislation.”
Avellana Gold has developed a clean technology of dumps recycling and acquired modern equipment. Thanks to a special technological scheme, the dumps will be cleaned from heavy metals by 85-90%, and the closed production cycle will allow to re-use 85% of the required water amount.
"We are now fixing what is left behind other companies and people who worked here before us. But we must say that technologies are moving forward, and we are using the latest expertise to utilize these dumps and create a basis for future environmental conservation,” explained Arsen Ilyin, director of the Carpathian Ore Company, which is a part of Avellana Gold.
Daniel Aspleaf, Director of CDM Engineering Ukraine LLC, noted, that unfortunately, international environmental best practices are rarely used in Ukraine: “Waste dumps recycling will greatly improve the environmental situation of the region. I hope Avellana Gold will continue the started project because it is very ambitious and it demonstrates that such projects can succeed in Ukraine. This is very significant for other foreign investors. Being an example to others requires courage."
The implementation phase of the Avellana Gold environmental project will provide 50 jobs. In the future, the company's activity at full capacity provides for about 500 new jobs with the prospect of functioning of the enterprise of at least 20 years.
“The emergence of new companies which develop innovative projects and invest in Ukraine is a very good signal for both existing and potential investors. Avellana Gold creates a large number of jobs where production is actually located, because at the moment we do not see in the region any big projects or productions where people can work transparently and legally,”- said Igor Gotsyk, Advocacy Team Leader at the EBA.
Avellana Gold has been a member of the European Business Association since 2017, a member of the British Chamber of Commerce since 2019 and a participant in the Canadian-Ukrainian Trade and Investment Support Project (CUTIS project).