On May 30 the delegation of the Ministry of Economic Development and Investments headed by Minister Suren Karayan visited Amulsar project area and have been to the working camp, construction site, pits area as well as a number of Lydian sponsored social development projects in the communities.
Managing Director of Lydian Armenia, Hayk Aloyan presented the economic and investment potential of Amulsar project. The capital investments before the end of construction in 2018 will make up 370 million USD. This stage of construction at Amulsar secured jobs for around 570 people in Armenia, 280 of which are employed from local communities of Jermuk, Gndevaz, Gorayk and Saravan. During the peak construction, around 1300 are expected to work at the project. First gold will be poured in the first half of 2018 and during the 10 years of production the project is expected to employ around 700 people.
Lydian Armenia Senior Sustainability Manager, Armen Stepanyan updated the visiting delegation on the environmental management of the Amulsar project, ensuring all that Amulsar will become a modern mine operation that is designed and will be operated as other similar modern operations in the developed world. Amulsar project is the first mining project in Armenia to have conducted an ESIA in line with IFC and EBRD Performance Standards and Requirements. Integration of the ESIA recommendations with project design ensured that the project is developed in line with modern standards, using modern technology. Lydian Armenia and the international team members answered the questions of the delegation about the project environmental management.