Friday, March 10 2017 18:37

ArmInfo. The company Lydian International at the annual World Mining Congress in Toronto (PDAC) in the Canadian city of Toronto on March 5-8 presented a project to develop the Amulsar mineral assets.

The Toronto Stock Exchange is the listing center for the mining and metals business. More than 900 companies from 125 countries around the world, as well as representatives of the government of a number of countries within the framework of the miners' meeting, presented the latest achievements in the mining sector, issues related to natural resource management, state control and legislative regulation. For the first time, the governmental delegation of Armenia, headed by Deputy Minister of Energy Infrastructures and Natural Resources of the Republic of Armenia Vardan Gevorgyan, also participated in the forum. The Deputy Minister introduced the investment potential of Armenia's mining industry to the forum participants. Gevorgyan met with representatives of major international institutional investors - IFC and EBRD, who invested in the Amulsar project.

"Lydian International", mastering the Amulsar mine, Armenia represented already for the 9th time.  According to the executive director of "Lydian Armenia" Hayk Aloyan, Armenia's participation in the forum is very important in terms of increasing its recognition among investors. In his view, even countries such as Finland, Sweden, Canada and Australia who are in the mining industry, participate in the PDAC in order to attract investment. "In 2008, when we first introduced the Amulsar project at the congress of the mining industry, many participants did not even hear about Armenia, it becomes clear during the PDAC how difficult it is to attract responsible international players into the mining industry", Aloyan said.

To note, more than 22 thousand participants from more than 100 countries of the world register their programs, technological achievements and investment opportunities in the field of mining. The international exhibition is accompanied by parallel conferences, where the issues of technical equipment of the sphere, as well as on management of the sphere and tasks of nature protection are discussed.

On February 2nd, 2017. Chairman and CEO of Lydian International, Howard Stevenson, during a meeting with the Minister of Economic Development and Investments of Armenia Suren Karayan reported that in March 2018 the company will receive the first bar of gold mined at the Amulsar mine. According to Stevenson, construction work in Jermuk is gaining new strength. The program will be implemented within 18 months. "We are getting ready to invest $ 370 million and create 700 permanent jobs for ten years and 1,300 joint ventures. The program provides for the annual export of gold worth $ 259 million", Stevenson said.