The Start of the Construction of the Amulsar Gold Mine was Given

On August 19, the start of the construction of the Amulsar gold mine was given in Vayots Dzor region.
   The Amulsar is one of the largest international investment projects in Armenia, the capital expenditures of which  will amount to 370 million dollars. In the most active period of the construction 1,300 people will be engaged in the program.
   During the 10 years of the production, in the face of the "Lydian Armenia", the subsidiary company of the "Lydian International" Company, will be provided 700 job places.

    The Amulsar gold mine project construction launching event was attended by the RA Prime Minister Hovik Abrahamyan, RA Minister of Energy and Natural Resources L. Yolyan, RA Minister of Economy A. Minasyan, heads of communities, governors, and other officials.

   Among the participants were members of the Board of Directors of "Lydian International",  Company's shareholders, the representatives of IFC and EBRD, heads of offices of the World Bank and the International Monetary Fund in Armenia Lora Bayley and Teresa Daban Sanchez.

The event was also attended by the US Ambassador Richard Mills and British Ambassador Judith Farnuorte.

Welcoming the participants, the RA Prime Minister Hovik Abrahamyan noted, that the Government has fully supported the implementation of the Amulsar project from the very beginning.

-We are confident, that it will be implemented successfully. We have passed a long way, we also had the objective and subjective difficulties, but the start of the construction is an important thing, for which I am very glad, as head of government. The start of this major project is important in the terms of  decreasing of foreign investments.

I would especially like to welcome the participation of the prestigious international financial institutions, the International Finance Corporation and the European Bank for Reconstruction and Development. I am convinced that the Amulsar project will create new opportunities for the development of Armenia's economy. 

-We have no gas, no oil, but we have other natural resources, the smart and effective use of which is a huge reserve and resource for both our budget and for the development of our country,- has emphasized the Minister of Energy and Natural Resources Levon Yolyan.

The CEO of the "Lydian International" Howard Stevenson assured, that everything will be done to show that it is possible  to work in other ways, that the industry can be responsible, safe and useful for the surrounding communities. "We have to make it a reality together with you during the next 12 years."The Amulsar is the first mining project in Armenia, which is implemented the assessment of the environmental and social impacts according to the IFC and the EBRD standards.

- Of course, the mining industry has its impact on the environment, but we will show that it is possible to be a responsible mine industrialist,- said the CEO of "Lydian International" company.