ArmInfo. It is expected that the development of the Amulsar mine will begin at the end of this year or the beginning of next year. Babken Tunyan, vice-chairman of the NA Economic Affairs Committee, said on April 3 during the discussion of the project to establish a state duty for the export of gold, platinum and palladium ingots.
Tunyan believes that after the resumption of mining operations, there will be no more problems with gold ore.
On February 22, 2023, the Government of the Republic of Armenia, Lydian Armenia CJSC and the Eurasian Development Bank signed a memorandum of understanding, which marked the restart of the program for the development of the Amulsar mine. It was noted that within the framework of the memorandum, $150 million will be raised, of which $100 million will be loan funds from the EDB, $50 million will be provided by a local bank, and an additional $100 million will be invested outside the agreement by shareholders. After signing the memorandum, then Minister of Economy of Armenia Vahan Kerobyan stated that the development of the Amulsar mine will provide the state treasury with y-o-y revenues of 30-40 billion drams, and with the launch of the mine, about 1,000 new jobs will open in the Vayots Dzor region. "It is estimated that as a result of the development of the Amulsar mine, Armenia's GDP will increase by 1%. This is a fairly high figure. We have no right to refuse such opportunities," Kerobyan emphasized then.
On January 18, 2008, the RA government accepted the donation of 12.5 percent of the shares of the Lydian Armenia company and entrusted the RA Ministry of Economy with the authority to manage them. The mine is the second largest in Armenia. According to the company, the mine contains approximately 73,733 kg of gold with an average grade of 0.78 g per ton, as well as 294,367 tons of silver with an average grade of 9.29 g per ton. It is located in the southeast of the country, 13 km from the resort town of Jermuk, between the Arpa and Vorotan rivers.
