Economy Minister hopes for significant growth in Armenia`s mining  industry

ArmInfo. Armenia's Minister of Economy Vahan Kerobyan hopes that the measures taken by the government to restore the volume of mining will be successful. The  Minister stated this in an interview with Civil Net.

According to him, despite the existing military-political problems,  there is hope for the resumption of the program for the development  of the Amulsar gold mine by Lydian International, which will  significantly increase the production of mining enterprises. He said  that next week a meeting with the company's delegation will be held,  during which issues related to the financing of the project will be  discussed. "I think that the mine will start working from the middle  of next year. The company that is preparing for the launch has the  appropriate license," Kerobyan emphasized.  As for the other "idle"  Teghout copper-molybdenum mine, according to the minister, both the  company developing it and its shareholders were under sanctions,  which led to the shutdown of the mine. However, negotiations are  currently underway with new investors. "We are trying to do  everything possible so that the enterprise resumes work as soon as  possible," the minister said, not ruling out the possibility of a  change of its ownership. "There are various kinds of discussions, but  I would not like to go into details now," the head of the Ministry of  Economy stressed.

At the same time, he specifically emphasized that the possibility of  applying direct or secondary sanctions against Armenian companies due  to the conflict in Ukraine is very insignificant.