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Avellana Gold Company Has Launched a Large-Scale Project for Ecology Restoration in Transcarpathian Region Avellana Gold Company Has Launched a Large-Scale Project for Ecology Restoration in Transcarpathian Region

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).


Avellana Gold met with the U.S. Embassy officials Avellana Gold met with the U.S. Embassy officials

On July 18,  Avellana Gold met with the U.S. Embassy officials to discuss the company’s investment projects in the Zakarpattia region.

On July 18,  Avellana Gold met with the U.S. Embassy officials to discuss the company’s investment projects in the Zakarpattia region.

Avellana Gold has shown a new factory on Muzhievo deposit of polymetals Avellana Gold has shown a new factory on Muzhievo deposit of polymetals

Company Avellana Gold, which invests in the development of the Muzhievo deposit of polymetals in Transcarpathia, has built a new factory and restores mines. Also, the investor is implementing a large-scale project to restore the ecological situation in the region.Last time Muzhievo deposit functioned more than 10 years ago. Avellana Gold, which began investing in the deposit in 2016, has built a m…

Company Avellana Gold, which invests in the development of the Muzhievo deposit of polymetals in Transcarpathia, has built a new factory and restores mines. Also, the investor is implementing a large-scale project to restore the ecological situation in the region.



Last time Muzhievo deposit functioned more than 10 years ago. Avellana Gold, which began investing in the deposit in 2016, has built a modern engineering facility for the safety and environmental friendliness of further mining operations. 

"The first part of our project implementation is a large-scale ecological project. Thanks to a special technological scheme, the dumps will be cleaned of heavy metals by 85-90%. And a closed cycle of production will allow us to reuse 85% of water from the required amount ", - said Andriy Smolin, head of the Ukrainian representative office of Avellana Gold. 

During the next stage of the investment project Avellana Gold will fully restore the work of Muzhievo deposit. The modern enrichment plant will reduce the country's demand for imports of zinc, lead and precious metals.

"With Avellana Gold production capacity of 500 thousand tons per year, lead and zinc sales volumes will completely cover imports of lead into Ukraine and more than 50% of imports of zinc. The efficiency of mining of precious metals will increase almost ten times in comparison with the previous development project of Muzhievo deposit ", - said Andriy Smolin. 

The launch of the enrichment plant will provide jobs to about five hundred people in the region. "One of the areas of Avellana Gold's work is the development of local communities, infrastructure improvements, as well as the payment of taxes to local and state budgets worth $3.5 million a year. In particular, it is a fee for the use of subsoil, from which almost $1 million will remain in the local budget, and up to 500 thousand will come from the income tax. In general, forecasted fiscal payments of the operating company will be about $10 million a year ", - notes Andriy Smolin.

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Official position of Avellana Gold Ltd. on information disseminated in the media Official position of Avellana Gold Ltd. on information disseminated in the media

Since 2016, Avellana Gold Ltd. holds special permits for the development of Muzhievo deposit in Transcarpathia and conducts the relevant activities. However, news from the media recently announced that the British company Gofer Mining PLC plans to invest in Muzhievo deposit of polymetallic ores. We would like to note that all the assets are owned by Avellana Gold Ltd. and no negotiations regarding…

Since 2016, Avellana Gold Ltd. holds special permits for the development of Muzhievo deposit in Transcarpathia and conducts the relevant activities. However, news from the media recently announced that the British company Gofer Mining PLC plans to invest in Muzhievo deposit of polymetallic ores. We would like to note that all the assets are owned by Avellana Gold Ltd. and no negotiations regarding new investors are being conducted or planned.

The American company Avellana Gold Ltd. has been working on the deposit for three years and never heard of a new investor before. We are the only company that owns special permits for the exploration of Muzhievo deposit of polymetallic ores in Transcarpathia and have not communicated with any investors. We have learned from the media about the Gofer Mining PLC, which seems to want to invest in the Muzhievo deposit. Their representatives have not contacted us, no negotiations have taken place.
Avellana Gold Ltd. presented a development project of Transcarpathian polymetallic deposits to Canada investors Avellana Gold Ltd. presented a development project of Transcarpathian polymetallic deposits to Canada investors

Avellana Gold Ltd. presented its own mineral exploration project in Transcarpathia at the Canadian-Ukrainian Investment Forum CUTIS. The total estimated value of the projects of Ukrainian companies amounted to about 1.5 billion dollars. USA. “Avellana Gold Company’s ambitious plan and our long-term strategy is a study of the untapped potential of the Ukrainian Carpathians for the extraction of…

Avellana Gold Ltd. presented its own mineral exploration project in Transcarpathia at the Canadian-Ukrainian Investment Forum CUTIS. The total estimated value of the projects of Ukrainian companies amounted to about 1.5 billion dollars. USA.

“Avellana Gold Company’s ambitious plan and our long-term strategy is a study of the untapped potential of the Ukrainian Carpathians for the extraction of gold and polymetallic ores. Our tactical goal is to prove polymetallic mineralization on deeper horizons, in particular, it concerns Beregovo deposit. The next task is to prove the economy of these deposits, - said the head of the Ukrainian representation of the company Avellana Gold, Andrii Smolin. - Solving these tasks requires the involvement of the best specialists and the study of international experience.”

The project of Avellana Gold also envisages the creation of a technologically advanced enterprise on the territory of Muzhievo deposit, with no analogues in Ukraine for the last two decades.

During the investment forum CUTIS, 20 leading Ukrainian companies presented their investment projects. To participate in the road show in Toronto, SP Advisors selected the most promising projects, where Avellana Gold introduced the Natural Resources sector.

CUTIS Investment Roadshow is a platform for cooperation between Canada and Ukraine in the field of investment attraction. More than 150 business and public sector representatives from Canada and Ukraine took part in the Forum.