Yegparian: Pennies on the Dollar

What if 98 cents of every dollar you had was taken from you?

What if those dollars were in the form of inherited family wealth that had sustained infants, college students, and octogenarian retirees alike since time immemorial?

What if on top of taking your wealth, in the process you were also saddled with additional debts of unknown magnitude?

What if on top of the theft, loss of legacy, and debts, you were made sick by the same agents who inflicted the rest of the pain on you?

What if, finally, just to make things look less obscene, the perpetrators of this travesty threw a few bones your way?

I suspect you would be seething, raging, fuming with anger, and doing anything you could to remedy the situation.

Well, here’s your chance, because what I described above is exactly what’s happening in the northern reaches of the Republic of Armenia, in the forests of Teghoot.

It’s anticipated that more than $20 billion worth of (primarily) copper will be mined from beneath the old growth forests that currently cover the area over the anticipated 25-ish year life of the mining operation. Sounds pretty good, right? That’s a lot of money in a country with a struggling economy, right? It’ll provide jobs, right?

Except…in the process of extracting the ore:

– the whole area will be denuded of the irreplaceable old growth forest, a whole mountain will be removed, and a deep pit left behind; this seems much like the “mountain top removal” coal mining being practiced in Appalachia with lethal results;

– the local villagers will be left with poisoned land, with toxic mine wastes piled up or, if in liquid form, held in ponds built with piled up dirt, subject to failure;

– the riverways and the area will consequently be impacted, imperiling local water supplies, for humans and other animals;

– local animals, some holdovers from before the ice age and found nowhere else, may go extinct;

– unknown long-term cleanup issues will no doubt arise; and

– people’s health will be impacted much as in Appalachia or Bhopal, India

Of course, a few dozen of the local folk will have jobs for the next two decades, but nowhere worth living after that. I should be fair, about $300 million (in today’s dollars) will accrue to the Republic of Armenia (RoA), that’s about 1.5 percent of the total value of the ore. Take that, couple it with the value of the employment I just mentioned, and related economic activity, and you’ll probably get about 2 percent of the total value of the ore, meaning 98 percent is going to…who knows where? The ownership of 82 percent of the company doing the mining is being kept secret. What are they afraid of?

Who needs Azeri snipers killing border patrols when we’ve got these kinds of unscrupulous companies exploiting the country’s natural wealth and the people’s desperation for work?

In case you didn’t notice, there’s that 98 cents I started out with. If righteous indignation burns within you now, be proud of it. Act on it. Whether on Facebook or other websites, start making your voice heard. There may soon be petitions and other actions over this reprehensible arrangement, join in. Let the authorities in Yerevan and their representatives know how despicable you think this is. Attend rallies and seminars.

Let’s help our compatriots living in the deadly shadow of this operation. There are cleaner, better, more publicly beneficial ways of extracting the wealth of the land, be it metal ores, stones, or anything else.

Oh, and this isn’t the only obscene mining operation in the RoA…

Garen Yegparian

Garen Yegparian

Asbarez Columnist
Garen Yegparian is a fat, bald guy who has too much to say and do for his own good. So, you know he loves mouthing off weekly about anything he damn well pleases to write about that he can remotely tie in to things Armenian. He's got a checkered past: principal of an Armenian school, project manager on a housing development, ANC-WR Executive Director, AYF Field worker (again on the left coast), Operations Director for a telecom startup, and a City of LA employee most recently (in three different departments so far). Plus, he's got delusions of breaking into electoral politics, meanwhile participating in other aspects of it and making sure to stay in trouble. His is a weekly column that appears originally in Asbarez, but has been republished to the Armenian Weekly for many years.
Garen Yegparian

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1 Comment

  1. Very sad that we have these thugs that steal and rob Armenia to only line their own pockets. You can start with Sarkisian and go down the list. That’s why these robbers need security armed guards because they realize that otherwise their well being is at stake.

    Current state of Armenia: Robbers , thieves, thugs and murderers. And those are the people in charge. Very sad.

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