Yerevan October 31
Alina Hovhannisyan. All decisions and legal opinions relating to the Amulsar gold deposit will be made in accordance with all legal requirements. On October 31, during a press conference, he told reporters. Minister of Economic Development and Investments of the Republic of Armenia Tigran Khachatryan.
"When such processes are delayed, this causes discontent among the waiting party, and the authorized structures should do everything possible to promptly make fair conclusions," he said. In the case of Lydian Armenia, according to the Acting Minister of Economy, we are talking about environmental issues, and the relevant structures today are working in this direction. "We understand that this is from the point of view of foreign investments Amulsar project is one of the largest investment projects in Armenia and is in the center of attention of the international investment community. But I am sure that all decisions taken on the Amulsar gold deposit will be unequivocal, "he stressed.
In particular, T. Khachatryan noted that in case of any gaps, including those related to compliance with environmental standards, meetings should be held on how the company can fill these gaps in order to move forward. "In the absence of such gaps, the company, being sure that all its actions comply with the law, will continue its activities," he concluded.
Note that construction work within the Amulsar project has now been suspended. The reason for this was the protest action of environmental activists who claimed that the use of the deposit would damage the environment of Jermuk. The government has ambiguously responded to the conflict and has not made a final decision on the continuation of the work.
Recall that Lydian Armenia is a subsidiary of British Lydian International, whose shareholders are major international institutional investors from the United States, Great Britain, and a number of European countries, including the EBRD. The Amulsar project is the largest industrial project in Armenia today for the development of the Amulsar gold deposit with a total value of $ 370 million. In August 2016, the project for the construction and development of the deposit was launched. Preparatory work has been going on since 2006. The life of the Amulsarsky deposit will be 10 years and 4 months, it is planned to produce an average of 200 thousand ounces of gold (about 10 million tons of ore) annually. The company is listed on the Toronto Stock Exchange. Amulsar deposit is the second largest reserves in Armenia.
