CORPORATE NEWS

The Government of Ukraine will promote foreign investors, therefore we are ready to provide funding for projects in Ukraine, – management of Avellana Gold The Government of Ukraine will promote foreign investors, therefore we are ready to provide funding for projects in Ukraine, – management of Avellana Gold
These days there has taken place the meeting of the CEO of Avellana Gold Brian Savage with the representatives of the Ministry of Economy of Ukraine and the State Services of Geology and Deposits of Ukraine. The representatives have discussed attraction of investment in Ukraine as exemplified by Muzhiyevo polymetallic deposit, as well as technical issues relating to the project implementation. ‘A month prior to the date decision was passed on acquisition of assets in Ukraine, I had a short talk with Volodymyr Groysman. The Prime-Minister assured me that the Ukrainian government would promote foreign investors to the maximum extent possible. State approach to investment attraction has really changed a lot over the last year, and I don’t feel sorry about my decision to finance projects of the mining field in Ukraine. I would like to stress that I am also interested in the implementation of other projects in the region’, – said during the meeting Brian Savage, the CEO of Avellana Gold. In the words of the meeting participants, Muzhiyevo polymetallic deposit is an absolutely new project from the technological point of view, having no counterparts over the last 20 years. For the first time in Ukraine the opportunities for mining business development are being created out of private foreign capital. In case of successful project implementation there may well be launched a large-scale production that will provide jobs to 500 people for at least 20 years, and, according to expert estimates, – even for 40-50 years. ‘The state needs such investment projects as development of Muzhiyevo deposit. And we are ready to study the project more in-depth as well as continue our dialogue with Avellana Gold’, – said Maksym Nefiodov, deputy minister for economic development and commerce of Ukraine. Also, the meeting participants discussed a whole range of environmental issues, which include liquidation of negative consequences of previous mining companies’ activity, introduction of innovative technologies that would be absolutely safe for the environment. Let us remind you that Avellana Gold is a company dealing with exploration and development of mineral deposits, in particular, in Ukraine and in the neighbouring countries in the territory of Eastern Europe. In 2016 Avellana Gold bought the companies Carpathian Ore Company (Karpatska Rudna Kompaniya) and Western Exploration Company (Zakhidna Heolohorozviduvalna Kompaniya), possessing special permissions for geological exploration, research and commercial development, and extraction of polymetallic ores in Western Ukraine (Muzhiyevo, Berehovo and Kvasove deposits).