Tigran Khachatryan: I am sure that decisions on Amulsar will be  unambiguous

ArmInfo.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.