The Union of Miners of Armenia congratulated Lydian Armenia on the resumption of work at the Amulsar gold deposit

ArmInfo. On behalf of the Association of Mining and Metallurgical Industry, I congratulate our partners from Lydian Armenia on the resumption of construction work at the Amulsar deposit. I am confident that the long-awaited launch of the Amulsar project will bring tangible economic benefits to the country, and will also significantly strengthen Armenia's position on the global map of effective investment areas. The head of the Association, Vardan Janyan, wrote about this on his Facebook page.

According to him, the resumption of work at the Amulsar mine is a significant achievement not only for Lydian, but also for the entire mining industry and the Republic of Armenia as a whole. "Thanks to cooperation and joint efforts, Armenia can have a powerful, modern and developed mining industry that meets the highest international standards," the President of the Association emphasized.

Recall that the day before, it was announced that the work to complete the construction of various infrastructure of the Amulsar gold mine would resume after a nearly seven-year hiatus. As reported by Lydian Armenia, the exploitation of the deposit will be of great importance for the economic development of the country, in particular, for the communities surrounding the village of Amulsar. In this regard, it is noted that at current international gold prices, the company plans to pay taxes and royalties (periodic payments - ed.) in the amount of 100-120 million US dollars per year (about 46 billion drams - ed.) during exploitation. "In addition, 6 thousand jobs will be created, and the gross domestic product (GDP) of Armenia is projected to increase by another 1%," the company summarized. Recall that since the end of 2018,

the Amulsar gold deposit has been blocked by environmental activists. The government was unable to find its bearings regarding the resumption of construction of the mine and work on it had to be suspended. It should be noted that the total cost of the Amulsar project is about $400 million. The mine's lifespan is estimated at 10.5 years, with an average of 200 thousand ounces of gold planned to be mined annually.

The deposit is the second largest in terms of reserves in Armenia. According to the company, the deposit contains about 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, in the interfluve of the Arpa and Vorotan rivers.