ArmInfo.As reported by the press service of the Embassy, this program involves investments of millions USD into the country's economy, could amount to millions of dollars, that will create new jobs and prosperity for the Unite States and Armenia. "Armenia is open for U.S. businesses, and the U.S. Embassy is proud to support as we work toward a more prosperous future," the statement reads.
Note that on February 27, at a regular meeting, the Government of Armenia decided to provide Lydian Armenia with budget guarantees of up to $150 million. The explanatory note to the document states that the government's action plan for 2021-2026 includes a series of consistent steps aimed at developing the Amulsar deposit.
Recall that since the end of 2018, the Amulsar gold deposit has been blocked by environmental activists. The government has been unable to find a solution to resume construction of the mine, resulting in the suspension of its operation. At a press conference in November 2024, Armenian Minister of Economy Gevorg Papoyan stated that the mine's operation could potentially begin in the fourth quarter of 2025. He highlighted the need to raise $250 million for this project, with $100 million already secured by the company, and plans to obtain the remaining $150 million from local banks. Papoyan also added that once the mine is full operational, Armenia's GDP is expected to increase by an additional 1% annually, with tax revenues projected to reach $120 million. Furthermore, new jobs will be created and communities located near the mine will receive subsidies. "In this context, the launch of Amulsar is of vital importance," the Minister emphasized.
