ArmInfo.Armenia's Vice-Premier Mher Grigoryan held a meeting with Mr Jeffrey Couch, Lydian BOD Member, Mr Hayk Aloyan, Executive Director of Lydian Armenia company, and Mr Justin Dibb, Chief Executive Officer, Allied Gold Corp.
The guests informed Mr Grigoryan of their intention to jointly implement the Amulsar project. The sides discussed issues of resuming the Amulsar mine construction project, financing process and public-private partnership.
The sides highlighted the importance of operation of the Amulsar mine in conformity with the best international environmental and social management standards.
On February 21, Armenia's government, Lydian Armenia and the Eurasian Development Bank (EDB) signed a memorandum of understanding, which relaunched the Amular mine operation programme. A total of $250mln is expected to be attracted under the programme, with $100mln being an EDB loan, $50 to be provided by a local bank. In their turn, the stockholders will invest $100mln. As part of the deal, Armenia's government will get 112.5% of the company's shares without paying for them. However, the government pledges to insure the deal against certain risks.
Last March, Armenia's Minister of Economy Vahan Kerobyan stated that the Amulsar gold mine would be reoperated if nothing interfered.
For more information on the company follow link: https://www.lydianarmenia.am/eng/pages/lydian- armenia/67/
For more information on the Amulsar mine, follow link: https://www.lydianarmenia.am/eng/pages/amulsar- mine/70/
