ArmInfo.  Presenting his study "Armenia's Mining Sector in Figures," economist Suren  Parsyan noted that the mining industry's share of Armenia's GDP fell  from 5.5% to 2.6% between 2021 and 2024. 

ArmInfo. The Eurasian Development Bank (EDB) no longer plans to participate in the Amulsar gold deposit development project, as announced by Yaroslav Mandron,  EDB Management Board Deputy Chairman, in Almaty on December 18.

ArmInfo. Construction work is currently underway at the Amulsar gold mine, and at maximum capacity, the mine is expected to produce 8-10 tons of gold per year.  Armenian Finance Minister Vahe Hovhannisyan stated this in an interview with  the research publication Hetq. He noted that this will be achieved  gradually, step by step.

ArmInfo. Lydian Armenia will switch to 24/7 construction activities at the Amulsar mine starting next week, as announced by Lydian Armenia CEO Hayk Aloyan,  in response to a question from an ArmInfo correspondent on the  sidelines of the Mining Armenia Forum.

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.

ArmInfo.  Armenian Minister of Economy Gevorg Papoyan received a delegation led by Alexander Timan, the newly appointed head of the International Monetary Fund (IMF) mission in Armenia.

ArmInfo.  By the end of 2025, Armenia is projected to  reach the budgeted GDP growth rate of 5.1%. The launch of the Amulsar gold mine this year may also have a positive impact on this key indicator. Armenian Finance Minister Vahe  Hovhannisyan made this statement during a press conference, in response to a question  from ArmInfo about the feasibility of the financial authorities' economic growth predictions given the downward revisions in global economic growth forecasts.

ArmInfo. The government will provide Lydian Armenia with budget guarantees of up to $150 million.  The decision was made on February 27 at a regular meeting of the Cabinet of Ministers.

ArmInfo. In addition to the main bank, which has expressed a desire to finance the exploitation  of the Amulsar gold mine, several other banks have also shown interest in providing additional financing for the launch of the project. Daniel Azatyan, the Chairman of the Union of Banks of Armenia (UBA), told journalists  during a press conference on February 25.

ArmInfo. The development process at the Amulsar deposit is currently in an active stage. This was reported to journalists by the Minister of Economy of Armenia Gevorg Papoyan during a briefing on February 6.  He noted that he  cannot provide specific details about  the private sector negotiation  process, but, based on his impressions, it seems likely that  that  the loan will be secured and implemented.

ArmInfo. Vardan Jhanyan, the President of the Union of Miners and Metallurgists and First Deputy Director General of the Zangezur Copper Molybdenum Combine (ZCMC), is confident that two or three mining projects equivalent in capacity to ZCMC can radically change the economic situation in Armenia.

ArmInfo. The permits for the use of mineral resources issued to Lydian Armenia are administrative acts that are not subject to appeal and cannot be invalidated administratively or by a court decision. This was reported by the  company's press service, citing the decision of the Administrative  Court.

ArmInfo. The launch of the Amulsar project is expected to boost economic growth, as stated by Economy Minister Gevorg Papoyan during the final press conference on January 13.  In particular, he noted that the mine's full operational cycle would result in an annual GDP growth increase of 1%. The  economy will receive $120 million in taxes alone every year, numerous  jobs will be created, and communities bordering the deposit will  receive subsidies, etc. he said.  Additionally, the Minister of Economy  noted that GDP growth is expected to be around 5.5% by the end of  2025.  

ArmInfo.Yerevan, In late September, the Mining Armenia Forum was held in Armenia, organized by the Union of Miners and Metallurgists of Armenia. The forum was attended by representatives from almost all  mining companies in the country, specialists in various fields, environmentalists, representatives from various NGOs, and foreign guests.

ArmInfo.The conclusion of the agreement on the donation of 12.5% of shares out of 100% of the shares of the Lydian Armenia company is postponed until December 30 of this year. The decision on this was made at a meeting of the RA government on October 24.

ArmInfo. The transfer of shares by the Lydian Armenia company, which operates the Amulsar mine, as a gift to the government of Armenia was the company's decision. Head of the economic department, Vahan Kerobyan, announced in an interview with Public Television.  "Taking the government as a partner is advisable for the company in the context of creating a more comfortable working environment; moreover, thanks to this step,  many risks will be leveled," the minister said.

ArmInfo.On January 18, Armenia's Cabinet approved a decision on the RA government accepting  12.5% of the Lydian Armenia shares as a gift.  

ArmInfo. The Amulsar mine will be operational this year.  Armenian Minister of Economy Vahan  Kerobyan stated  during a press conference on Monday.

ArmInfo.The Eurasian Development Bank (EDB) treats the Amulsar project in Armenia very  carefully and cautiously. Denis Ilyin, Deputy Chairman of the EDB Board, stated this on December 14 in Almaty, summing up the results of the Bank's year of activity.

ArmInfo.Armenia's Vice-Premier Mher Grigoryan held a meeting with Mr Jeffrey Couch, Lydian BOD  Member, Mr Hayk Aloyan, Executive Director of Lydian Armenia company, and Mr Justin Dibb, Chief Executive Officer, Allied Gold Corp.