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.  Short-term political dividends could jeopardize long-term economic development. Haykaz Fanyan, head of the ACSES Analytical Center, shared his  assessment, touching on the Armenian government's intentions  regarding the Electric Networks of Armenia CJSC.

ArmInfo.  All risks associated with the operation of the Amulsar gold deposit are  entirely manageable, as stated by Hayk Aloyan, Executive Director of  Lydian Armenia, a company constructing and operating the mine, in an  interview with the Public Radio of Armenia.

ArmInfo. Within five years, Armenia's mining industry could generate $3 billion in exports. Vardan Janyan, First Deputy Director of the Zangezur Copper and  Molybdenum Combine (ZCMC) and head of the Mining and Metallurgical  Association of Armenia, stated this in an interview with journalists  on the sidelines of the Mining Armenia Forum.

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. Work has restarted at the Amulsar gold mine to complete the construction of various infrastructure. Ten contractor companies are involved in the work, as reported by the press service of the Lydian Armenia company.

ArmInfo.Zangezur Copper and Molybdenum Combine (ZCMC) will present an international report on  biodiversity management (TNFD) at the 17th Conference of the Parties to the UN Convention on Biological Diversity (COP-17). Armen Stepanyan, ZCMC Director for Sustainable Development (CSO - Chief  Sustainability Officer), said this in response to a question from an ArmInfo correspondent on the sidelines of the Conference on Sustainable Development, held in Yerevan on May 15.

ArmInfo. The Armenian government is changing the scopes of creditors for the program to resume operations at the Amoulsar gold mine.  The decision was made by the Cabinet of Ministers on April 30.  As stated in the explanatory note to the document, the adoption of the project is conditioned by the necessity to ensure the issuance of a budget guarantee in order to  ensure the normal course of activities of <Lidian Armenia> CJSC.

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.

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. 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. 12.5% of the shares of Lydian Armenia CJSC have been transferred to the RA  Government. This was reported by the press service of the RA Ministry  of Economy.

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. For Armenia, which does not have its own oil and gas fields, uninterrupted and safe operation of the nuclear power plant is crucial. The currently  operating power unit N2 of the Armenian NPP not only provides up to  40% of all electricity generated in the country to the energy system,  but also helps solve a number of economic and social problems.  

ArmInfo. Development of the Amulsar gold mine in Armenia may begin in the spring of 2025 if all  remaining issues are agreed upon. Senior Managing Director of the Eurasian Development Bank Denis Ilyin stated this on the sidelines of the EDB Annual Meeting and Business Forum in a conversation with  ArmInfo and Sputnik-Armenia correspondents on June 27, noting the corresponding question.

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.

ArmInfo.It was investors who offered the government to accept shares of companies as a gift, Prime  Minister of Armenia Nikol Pashinyan said on February 7 at government hour in parliament, commenting on the transfer of shares in a number of companies.