ArmInfo.It is very important to work with the Government of Armenia to create a favorable, predictable and transparent environment for business and investment in the country. On May 15 in Yerevan in a conversation with journalists the US Ambassador to the RA Lynne Tracy stated about the situation around the Amulsar gold mine.
"And this is necessary not only for American business, but also for investors in general. And Lydian is one of these international investors. It is also important that international investors act in accordance with local law," she said, stating that research is now being conducted and you need to wait for their results.
However, according to the American diplomat, in such disputes, it is important to quickly and effectively find a solution to the issue.
Earlier, the company, Lydian International Limited, which operates Amulsar gold mine in the close to the area of the famous Jermuk balneological resort, has sought to prosecute the international arbitration process with the construction of a blockbuster block, the top of the coal mine and the offshore company activists. Lydian has the right to file an official declaration after the expiration of 3 months in international arbitration.
At the same time, the message says that the company is open for discussion and the search for urgent solutions with the state.
"I hope that we will be able to resolve issues with this company without arbitration," Armenian Deputy Prime Minister Tigran Avinyan told reporters. "If the results of the environmental assessment at the mine site correspond to Lydian data regarding the controllability of environmental risks, there will be no need for legal proceedings and the company will continue construction work. If the answer indicates the presence of risks that the company has not previously reported, then Lydian then it would not make sense to go to court, "- said Deputy Prime Minister.
The Amulsar project is the largest industrial project in Armenia today for the development of the Amulsar gold mine with a total value of $ 370 million. The Amulsar deposit is the second largest reserves in Armenia.
In August 2016, started the mineral assets construction and development project. Preparatory work has been going on since 2006. The terms of the Amulsar gold mine project will be 10 years and 4 months, with an average of 200 thousand ounces of gold (about 10 million tons of ore) planned annually. The company is listed on the Toronto Stock Exchange.
To note, since June 2018 the roads leading to the Amulsar mine are blocked by a group of people opposing the mine. The government of Armenia believes that the field operation project requires additional independent environmental impact assessment, which is now being conducted by one of the most reputable global companies. However, Lydian Armenia, due to the actual inaction of law enforcement agencies, continues to incur losses, construction of the mine is suspended.