ArmInfo. The saga of the Amulsar gold mine project is nearing completion, with the start of deposit development today. RA Prime Minister Nikol Pashinyan announced this on October 10 at a ceremony dedicated to the launch of the Amulsar mine.
According to him, it is noteworthy that today's event is being held without protests, in a calm, normal atmosphere.
The project itself underwent a lengthy discussion phase as part of working procedures. The RA government's position was, on the one hand, to answer all public questions, and on the other, to do everything possible to ensure that Armenian citizens see the most tangible results possible, so that they consider this project their own. "This is a major project involving investors, local organizations, the government, and the public, since the mine, the ore from which turned into gold before our very eyes, belongs to the Republic of Armenia and is the property of the people of the republic. Our main goal was to demonstrate to the public all the benefits of the project, that this wealth will serve the development of the country's economy and the growth of the state's welfare. The investment program for the development of Amulsar will be significant in attracting new investments to such projects," the head of state said, adding that from this perspective, success is obvious.
Nikol Pashinyan pointed to the fact that in a short period of time, a large batch of state-of-the-art equipment, the use of which requires highly professional workers, was imported into the country. Essentially, this represents a transition from rough work to work at a higher quality level. The technological chain is no less obvious; its implementation also requires professionals, which, in turn, presupposes higher wages and a transition to a higher level of well-being.
The Prime Minister emphasized that questions related to environmental protection were answered during the project's preparation. "With my participation alone, dozens of discussions were held on this issue, and checks were carried out on a wide variety of signals. One could express regret for the time lost, but it was equally important to gain confidence in the correctness of our decision. I would like to remind you that there were even signals about the possibility of pollution of Lake Sevan, but we are here today because we are confident that all such risks will be mitigated," Nikol Pashinyan emphasized. He added that such projects are the driving force behind development. any state.
The head of state also noted that the project's social responsibility is no less important, as neighboring communities will receive significant assistance from Lydian in replenishing local budgets.
Nikol Pashinyan also recalled that the state holds a 12.5% stake in the project, which represents additional shares for the people of the country. He noted that amendments were made to the Tax Code in the previous period, according to which the royalty rates were changed and brought into line with global prices for gold, copper, molybdenum, etc., which allows for additional revenue for the state budget.
The Prime Minister of the Republic of Armenia also noted the mine's impact on the country's GDP growth. He noted that in recent years, the average annual GDP growth has been 7.9%. As a result, the country's economy grew by 53% in 2025 compared to 2018. The project being implemented will allow for an even greater increase in these volumes, which should be approached not from a purely statistical perspective, but from a human perspective, as the people behind the program are responsible for the country's budget, thanks to whose efforts additional resources will be added, which means building new roads, schools, addressing social and security issues, etc. It should be noted that the Amulsar mine is located in southeastern Armenia (13 km from the resort town of Jermuk, between the Arpa and Vorotan rivers). It is the second-largest gold mine in the country (containing approximately 31 million tons of ore and approximately 40 tons of pure gold). Total investment in the project exceeded $750 million. In May 2026, the government approved an additional investment program worth 81.4 billion drams for the purchase of mining equipment. As part of the social aspect, agreements on local community development have been signed, and future social investments are estimated at over $100 million. The project has long been controversial and delayed due to environmental concerns about the safety of water resources (including Lake Sevan and the mineral waters of Jermuk), but authorities have stated that strict safety standards are being met.
