ArmInfo. The program of exploitation of Amulsar gold deposit of Lydian Armenia company was awarded a certificate of compliance with the standards of the International Cyanide Management Code (ICMC) in the pre-production cycle. The International Institute of Management of Cyanide officially notified the company.
According to the press service of Lydian Armenia, in 2016, after amendments to the ICMC, which provide for more stringent audit recommendations, the Amulsar program is the first mining project in Armenia and the fifth in the world that received a certificate of conformity at the pre-production stage.
The official report of the International Institute for Management of Cyanide, published on January 18 this year, states that according to the results of an independent audit submitted to the Institute in November 2017 by a third party - professional auditors, the activities of Lydian Armenia are consistent with the principles and practices of ICMC.
According to the source, the Amulsar deposit program received a conditional certificate and should undergo another audit, after the first cyanide supply within a year, in order to assess the conformity of the program already in the production phase. In particular, the audit of the deposit will be held once in three years.
Lydian Armenia is a subsidiary of the British Lydian International, whose shareholders are also large international institutional investors from the United States, Great Britain and a number of European countries, including IFC and EBRD. The Amulsar project is the largest industrial project in Armenia for the development of the Amulsar gold deposit at a total cost of $ 370 million. In August 2016, a project for the construction and development of the field was launched. Preliminary work has been carried out since 2006. The life of the Amulsar deposit will be 10 years and 4 months, an annual average of 200,000 ounces of gold is planned (about 10 million tons of ore). The company's shares are quoted on the Toronto Stock Exchange. Amulsar deposit is the second largest in Armenia.
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