ArmInfo. The companies statement reads: Lydian Armenia shares the belief expressed by Armenia's Government in a recent statement that all mining companies, need to comply with environmental regulations ensuring the protection of the environment and the well-being of our citizens. To this effect, we welcome the initiative to undertake environmental compliance audits of the mining industry to ensure that compliance is uniformly achieved and enforced throughout the mining sector. Over the last days, several mining companies in the country have been targeted, including Lydian's Amulsar Project, with protests manifested by road blockages disrupting operations. The protests at Amulsar led to peaceful counter-protests by Lydian employees and company supporters from the communities demanding from the protesters to restore their right to work. The protesters have been alleging deficiencies in environmental compliance and inconsistent hiring practices. Lydian has an established grievance procedure and encourages all stakeholders, to formally communicate specific concerns and grievances to the company and thereby achieve resolutions that are mutually acceptable. Presently, all access roads to Amulsar's project are open, workers have returned to site, and construction activities are returning to normal.
At present, Amulsar deposit operation is resumed.
On the eve of the Council of Elders Jermuk, consisting mainly of members and adherents of the old authorities - the Republican Party - appealed to Prime Minister Nikol Pashinyan with a demand to ban the development of the Amulsar deposit.
In the opinion of independent observers, this appeal is completely incomprehensible, like a kind of artful "sabotage", organized by those who did not previously interfere with the work of the company and did not make such claims that, as the Council of Elders said, "engaged in the development gold deposit, Lydian International received it with numerous violations, some of which are considered in court. However, we can not wait indefinitely while trials continue, and construction work is in full swing. "The Council of Elders believes that the provisions of the international treaties signed by Armenia are also violated, and corruptions are the basis for the exploitation permit for the field.
Lydian Armenia is a subsidiary of British Lydian International, whose shareholders are 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 was launched that assumes the construction and development of the field. 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 (about 10 million tons of ore) is planned. Within the framework of the Amulsar program, 1,300 jobs will be created in the construction process (construction works will last about 2 years) and 650-700 jobs throughout the entire operation of the field. The shareholders of the company are also international institutional investors IFC and EBRD. The company's shares are quoted on the Toronto Stock Exchange. Amulsar deposit is the second largest in Armenia.