ArmInfo. The first ore from the Amulsar gold mine will be mined at the end of 2024. Hayk Aloyan, the Executive Director of the Lydian Armenia company that developes the mine, said in a conversation with the ArmInfo correspondent.
According to him, it is planned to produce 10 million ore and 210,000 ounces of gold at the mine annually. The mine is currently undergoing engineering work that was interrupted five years ago. As of 2018, the work was completed by 75-80%, but taking into account the fact that no work has been carried out over the past five years, there is a need not only for their full completion, but also for surveys of the entire infrastructure of the mine. "Lydian Armenia" has attracted an international partner of Allied Gold Corp - United Gold, as a financial partner, which will invest up to $100 million in the project.
The Executive Director, referring to the memorandum signed on February 21 of this year between the RA Government, the Eurasian Development Bank and the Lydian Armenia company, according to which the company will transfer 12.5% of the shares to the Republic of Armenia, noted that this step will be beneficial for both the RA government and for the company itself.
"The mine development program is not a medium-term project, it is a long-term project," he noted, recalling the financial participation in the construction program of the EDB, which will complete the examination in August this year.
