YEREVAN, JUNE 4, NOYAN TAPAN. It is likely that as a result of negotiations between the European Bank for Reconstruction and Development (EBRD) and Dundee Precious Metals (DPM) company, the bank's participation in the mining program implemented by DPM in Kapan will reach 30 million USD, EBRD Armenia Office director Michael Weinstein said. In his words, the EBRD provided credits to Deno Gold Mining company - former owner of the mines DPM now operates in Armenia. However, after DPM's becoming 95% stake owner, the company has an additional demand for financial resources to increase the amount of its work. M. Weinstein said that DPM uses advanced technologies in Armenia, in parallel investing considerable sums in social programs. He added that the company spends much money on raising the safety of the mines and sponsors various social and cultural projects in the city of Kapan. On June 3 DPM presented the results of the work done under the 2006 credit program of 4.5 million dollars to the EBRD. Most of the work was related to environmental protection and development of the local community.

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