[{"id":1385,"date":"2024-12-27T08:52:00","date_gmt":"2024-12-27T08:52:00","guid":{"rendered":"https:\/\/lydianarmdev.wpenginepowered.com\/?post_type=news-archive&p=1385"},"modified":"2026-02-05T08:50:14","modified_gmt":"2026-02-05T08:50:14","slug":"12-5-of-lydian-armenia-cjsc-shares-transferred-to-armenian-government","status":"publish","type":"news-archive","link":"https:\/\/lydianarmenia.com\/en\/news-archive\/12-5-of-lydian-armenia-cjsc-shares-transferred-to-armenian-government\/","title":{"rendered":"12.5% of Lydian Armenia CJSC shares transferred to Armenian Government"},"content":{"rendered":"\n

12.5 percent of Lydian Armenia CJSC shares have been transferred to the Armenian Government.<\/p>\n\n\n\n

The minister noted that on December 27, the contract signing ceremony took place at the Ministry of Economy. Minister Papoyan signed the contract on behalf of the Armenian government, while Hayk Aloyan, the Director of Lydian Armenia CJSC, signed on behalf of the company.<\/p>\n\n\n\n

Read more: https:\/\/armenpress.am\/en\/article\/1208550<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

12.5 percent of Lydian Armenia CJSC shares have been transferred to the Armenian Government. The minister noted that on December 27, the contract signing ceremony took place at the Ministry of Economy. Minister Papoyan signed the contract on behalf of the Armenian government, while Hayk Aloyan, the Director of Lydian Armenia CJSC, signed on behalf […]<\/p>\n","protected":false},"author":6,"featured_media":823,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"archive_year":[47],"class_list":["post-1385","news-archive","type-news-archive","status-publish","has-post-thumbnail","hentry","archive_year-47"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive"}],"about":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/types\/news-archive"}],"author":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/comments?post=1385"}],"version-history":[{"count":0,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media\/823"}],"wp:attachment":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media?parent=1385"}],"wp:term":[{"taxonomy":"archive_year","embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/archive_year?post=1385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":1384,"date":"2023-03-23T11:48:00","date_gmt":"2023-03-23T11:48:00","guid":{"rendered":"https:\/\/lydianarmdev.wpenginepowered.com\/?post_type=news-archive&p=1384"},"modified":"2026-02-01T16:40:32","modified_gmt":"2026-02-01T16:40:32","slug":"lydian-the-leading-specialists-in-the-field-and-their-career-paths","status":"publish","type":"news-archive","link":"https:\/\/lydianarmenia.com\/en\/news-archive\/lydian-the-leading-specialists-in-the-field-and-their-career-paths\/","title":{"rendered":"Lydian, the Leading Specialists in the Field, and Their Career Paths"},"content":{"rendered":"\n

In 2017, I was hosted by the Faculty of Mining and Metallurgy at the National Polytechnic University of Armenia. During my visit, I presented the Amulsar project to students and faculty members, additionally, I tried to encourage young students by highlighting the numerous opportunities for professional development that mining projects like Amulsar can offer to emerging professionals.

Today, I confidently make the same claim on every occasion, as throughout 18 years of Lydian Armenia’s activity, I have seen young Armenian professionals aged 23-26 grow into leading specialists in the field, both in Armenia and abroad, acquire knowledge, and develop over the years. This growth and development were made possible in the frame of and thanks to the Amulsar project.

When I initiated the geological exploration in Amulsar in 2006 with local and international partners, I never imagined that years of hard work would lead us to discover one of the largest gold deposits in Armenia and it would face so many challenges.

Even more surprising was the significant impact that Amulsar would have on the lives and professional growth of many young Armenians involved in the project. Most of them spent their best years working at Lydian, collaborating with distinguished international experts to design the best mine in Armenia in terms of environmental, technological, and social management. As a result, they developed into in-demand specialists not only in the local market but also in the international arena.

Mining Journal award, exemplary EIA, and our young specialists<\/strong>

In 2011, Lydian received the \u201cOutstanding Achievement\u201d award by Mining Journal for the discovery and exploration of the Amulsar mine, a significant achievement for our team of young professionals on the global stage. Over five years, our geologists, led by experienced English geologist Tim Coughlin and myself, worked tirelessly to earn this recognition.

Back then Argam Snkhchyan was our senior geologist, who joined Lydian at the age of 26, and 24 years old Hovhannes Karapetyan was making his first steps in geology. Today, both are highly sought-after professionals who work on various mining projects in Morocco, Colombia, C\u00f4te d’Ivoire, Ghana, Georgia, and other countries.

At the start of their career, Amulsar allowed these young specialists to collaborate with more than 100 of the world’s top geologists, who shared their knowledge and experience and provided guidance. As a result, we developed the best mining project, which won an international award and witnessed the growth of high-class geologists before our very eyes.<\/p>\n\n\n\n



read more<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

In 2017, I was hosted by the Faculty of Mining and Metallurgy at the National Polytechnic University of Armenia. During my visit, I presented the Amulsar project to students and faculty members, additionally, I tried to encourage young students by highlighting the numerous opportunities for professional development that mining projects like Amulsar can offer to […]<\/p>\n","protected":false},"author":6,"featured_media":2116,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"archive_year":[46],"class_list":["post-1384","news-archive","type-news-archive","status-publish","has-post-thumbnail","hentry","archive_year-46"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive"}],"about":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/types\/news-archive"}],"author":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/comments?post=1384"}],"version-history":[{"count":0,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media\/2116"}],"wp:attachment":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media?parent=1384"}],"wp:term":[{"taxonomy":"archive_year","embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/archive_year?post=1384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":1383,"date":"2023-02-27T11:41:00","date_gmt":"2023-02-27T11:41:00","guid":{"rendered":"https:\/\/lydianarmdev.wpenginepowered.com\/?post_type=news-archive&p=1383"},"modified":"2026-02-01T16:39:11","modified_gmt":"2026-02-01T16:39:11","slug":"hayk-aloyan-the-amulsar-program-will-contribute-to-having-strong-borders","status":"publish","type":"news-archive","link":"https:\/\/lydianarmenia.com\/en\/news-archive\/hayk-aloyan-the-amulsar-program-will-contribute-to-having-strong-borders\/","title":{"rendered":"Hayk Aloyan: The Amulsar Program will Contribute to Having Strong Borders"},"content":{"rendered":"\n

Banks.am<\/a><\/em><\/strong>–<\/em>spoke with Hayk Aloyan, Executive Director of Lydian Armenia company.<\/em><\/p>\n\n\n\n


– Mr. Aloyan, on February 22 the restart of the Amulsar gold mine project was announced. Before coming to it, I think it is important to record what results the project would have achieved today if it had not been suspended in 2018 for reasons beyond the control of the company.<\/strong><\/p>\n\n\n\n

– <\/strong>If in 2018 the Amulsar project had not been suspended, we would have had the first company in Armenia to be listed on the Toronto Stock Exchange, and Amulsar would have been one of the largest gold mines operated in the region, setting a high bar in environmental and social management. The project would have contributed to the boost of Armenia\u2019s reputation as an investment-friendly country.

About 6,000 people would have been directly or indirectly engaged in the project, and residents of the surrounding communities would not have been forced to look for work outside their communities. Many people would have high-paid jobs with ample opportunity for professional development. Lydian Armenia would have been among the top three taxpayers.

I am sorry to record that Armenia lost at least 350 million US dollars during this period, which our country definitely needed.

– The Minister of Economy said that the Government of Armenia \u201cwill receive a 12.5% share of the new company without paying anything. Instead, it will secure against certain risks of the transaction.\u201d There is an ambiguous attitude in the public to the fact that large mining companies have started to voluntary transfer part of their shares to the Government. What is the economic point of it and attractiveness for the company?

– <\/strong>First of all, I would like to note that the Amulsar project will be implemented by Lydian Armenia company. The company\u2019s shareholders are American Orion Mine Finance and Canadian Osisko Gold Royalties companies. Today, the state has become their partner too.

There are many examples in the world, when miners partner with the state. It ensures more effective interaction between the parties.<\/p>\n","protected":false},"excerpt":{"rendered":"

Banks.am–spoke with Hayk Aloyan, Executive Director of Lydian Armenia company. – Mr. Aloyan, on February 22 the restart of the Amulsar gold mine project was announced. Before coming to it, I think it is important to record what results the project would have achieved today if it had not been suspended in 2018 for reasons […]<\/p>\n","protected":false},"author":6,"featured_media":794,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"archive_year":[46],"class_list":["post-1383","news-archive","type-news-archive","status-publish","has-post-thumbnail","hentry","archive_year-46"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive"}],"about":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/types\/news-archive"}],"author":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/comments?post=1383"}],"version-history":[{"count":0,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1383\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media\/794"}],"wp:attachment":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media?parent=1383"}],"wp:term":[{"taxonomy":"archive_year","embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/archive_year?post=1383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":1061,"date":"2023-02-23T06:03:00","date_gmt":"2023-02-23T06:03:00","guid":{"rendered":"https:\/\/lydianarmdev.wpenginepowered.com\/?post_type=news-archive&p=1061"},"modified":"2026-02-01T16:38:36","modified_gmt":"2026-02-01T16:38:36","slug":"1061","status":"publish","type":"news-archive","link":"https:\/\/lydianarmenia.com\/en\/news-archive\/1061\/","title":{"rendered":"Lydian Announces Partnership with the Armenian Government and Eurasian Development Bank\u00a0"},"content":{"rendered":"\n

We are proud to announce the signing of a Memorandum of Understanding between Lydian Armenia, the Armenian Government and the Eurasian Development Bank yesterday. By signing the Memorandum, the Parties will take specific steps for the recommencement and continuation of the Amulsar Gold Mine Project. 
 <\/p>\n\n\n\n

The total amount of investment required to complete the construction and start the operation of the Amulsar gold mine will be 250 million USD. 
 <\/p>\n\n\n\n

Under the MoU: <\/p>\n\n\n\n

– Lydian Armenia will present to the Armenian Government 12.5% of its equity capital becoming partners with the Government in the Amulsar Project. <\/p>\n\n\n\n

– The Government will implement all possible measures within the scope of its powers under the law for the smooth implementation of the Project. <\/p>\n\n\n\n

– EDB will extend a loan of USD 100 M to Lydian Armenia with another USD 50 M from a local Armenian bank. <\/p>\n\n\n\n

– The company will provide annual financial assistance to the affected communities (Jermuk, Vayk, Sisian) in the amount of USD 7M annually during the construction phase. <\/p>\n\n\n\n

 
The start of construction is planned for this year. <\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

We are proud to announce the signing of a Memorandum of Understanding between Lydian Armenia, the Armenian Government and the Eurasian Development Bank yesterday. By signing the Memorandum, the Parties will take specific steps for the recommencement and continuation of the Amulsar Gold Mine Project.   The total amount of investment required to complete the construction and start the operation of the Amulsar gold […]<\/p>\n","protected":false},"author":7,"featured_media":791,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"archive_year":[46],"class_list":["post-1061","news-archive","type-news-archive","status-publish","has-post-thumbnail","hentry","archive_year-46"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive"}],"about":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/types\/news-archive"}],"author":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/comments?post=1061"}],"version-history":[{"count":0,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media\/791"}],"wp:attachment":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media?parent=1061"}],"wp:term":[{"taxonomy":"archive_year","embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/archive_year?post=1061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":1382,"date":"2023-02-20T11:31:00","date_gmt":"2023-02-20T11:31:00","guid":{"rendered":"https:\/\/lydianarmdev.wpenginepowered.com\/?post_type=news-archive&p=1382"},"modified":"2026-02-01T16:38:09","modified_gmt":"2026-02-01T16:38:09","slug":"mining-targeted-by-gretathunbergs-and-social-media","status":"publish","type":"news-archive","link":"https:\/\/lydianarmenia.com\/en\/news-archive\/mining-targeted-by-gretathunbergs-and-social-media\/","title":{"rendered":"Mining Targeted by \u201cGretathunbergs\u201d and Social Media"},"content":{"rendered":"\n

There were times when geology was one of the most in-demand professions. And when it was my time to make a career choice there was no other option but geology, especially considering the example set by my father and uncle – well-respected geologists.
 
I have spent my entire conscious life in the mining industry. I have been involved in conducting feasibility studies almost for all mining projects in Armenia and led the group of geologists that discovered Amulsar – the first largest gold deposit discovered after Armenia’s independence. Therefore, I am perfectly aware of the peculiarities of the entire mining process and of all the development opportunities that the mining industry and this profession can create for any state and individual.

But now I must regretfully note that year by year geology or other professions in the field of mining (metallurgist, mining engineer, etc.) are becoming less popular. In the 60s and 70s, there were more than 10 applicants per place in the Faculty of Geology of YSU, today the enrolment rate is so low you can count the students on a hand. And although it is among the highest-paying jobs, finding a good specialist has become a real challenge. In my opinion, this situation is a result of the consistent discrediting of the mining industry, which we have been witnessing at least for the last 10-20 years. Despite the significant role that the mining industry has in the economy of Armenia, the sector is not properly valued, and the public perception of it is negative.

\u201cBread Factory\u201d<\/strong>

Mining like any other economic activity is not problem-free. It has a certain impact on the environment as do agriculture, construction, or any other human activity. For instance, every year 7 million hectares of forest are cut down in the world driven by agriculture, chemical fertilizers in use affect the quality of soil and water, and 70 % of freshwater resources are used up in this sector, anyway on various platforms you can regularly find demands to abandon mining and discussions to look for an alternative.<\/p>\n\n\n\n



read more<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

There were times when geology was one of the most in-demand professions. And when it was my time to make a career choice there was no other option but geology, especially considering the example set by my father and uncle – well-respected geologists. I have spent my entire conscious life in the mining industry. I have […]<\/p>\n","protected":false},"author":6,"featured_media":451,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"archive_year":[46],"class_list":["post-1382","news-archive","type-news-archive","status-publish","has-post-thumbnail","hentry","archive_year-46"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive"}],"about":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/types\/news-archive"}],"author":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/comments?post=1382"}],"version-history":[{"count":0,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1382\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media\/451"}],"wp:attachment":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media?parent=1382"}],"wp:term":[{"taxonomy":"archive_year","embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/archive_year?post=1382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":1381,"date":"2023-02-06T08:02:00","date_gmt":"2023-02-06T08:02:00","guid":{"rendered":"https:\/\/lydianarmdev.wpenginepowered.com\/?post_type=news-archive&p=1381"},"modified":"2026-02-01T16:36:11","modified_gmt":"2026-02-01T16:36:11","slug":"armenia-can-have-several-more-giants-like-zcmc","status":"publish","type":"news-archive","link":"https:\/\/lydianarmenia.com\/en\/news-archive\/armenia-can-have-several-more-giants-like-zcmc\/","title":{"rendered":"Armenia Can Have Several More Giants Like ZCMC"},"content":{"rendered":"\n


<\/p>\n\n\n\n

On January 10-12, the Future Mineral Forum, initiated by the Government, was convened for the second time in Riyadh, the capital of Saudi Arabia. The mission statement of the forum was “The World’s Next Mining Hub: A New Gateway to Lands of Opportunity”.

The Forum brought together global mining policy makers, investors and business leaders under one roof. More than 150 investors, representatives of over a hundred mining corporations and countries arrived in Riyadh.

Although Saudi Arabia is one of the most developed oil producing and exporting countries in the world, the country’s government is also taking steps towards the development of the metal mining industry. In the end of the forum, the American Ivanhoe Electric, headed by prominent mining magnate Robert Friedland, established a 50\/50 joint venture with Ma’aden, a Saudi Arabian mining company. Under the agreement reached, Ma’aden will make available an area of about 48,500 square kilometers (1.6 times larger than the territory of Armenia) in Saudi Arabia to Ivanhoe Electric for exploration under a special permit.<\/p>\n\n\n\n

read more<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

On January 10-12, the Future Mineral Forum, initiated by the Government, was convened for the second time in Riyadh, the capital of Saudi Arabia. The mission statement of the forum was “The World’s Next Mining Hub: A New Gateway to Lands of Opportunity”. The Forum brought together global mining policy makers, investors and business leaders […]<\/p>\n","protected":false},"author":6,"featured_media":581,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"archive_year":[46],"class_list":["post-1381","news-archive","type-news-archive","status-publish","has-post-thumbnail","hentry","archive_year-46"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive"}],"about":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/types\/news-archive"}],"author":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/comments?post=1381"}],"version-history":[{"count":0,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media\/581"}],"wp:attachment":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media?parent=1381"}],"wp:term":[{"taxonomy":"archive_year","embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/archive_year?post=1381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":1380,"date":"2023-01-27T11:10:00","date_gmt":"2023-01-27T11:10:00","guid":{"rendered":"https:\/\/lydianarmdev.wpenginepowered.com\/?post_type=news-archive&p=1380"},"modified":"2026-02-01T16:35:13","modified_gmt":"2026-02-01T16:35:13","slug":"armenias-untapped-capacity-2","status":"publish","type":"news-archive","link":"https:\/\/lydianarmenia.com\/en\/news-archive\/armenias-untapped-capacity-2\/","title":{"rendered":"Armenia\u2019s Untapped Capacity"},"content":{"rendered":"\n

My experience and knowledge gained over 25 years in the mining sector, many years of communication with a variety of international investors, connections and exchange of experience with the international mining community allow me to make comparisons between the mining industries of different countries, see the strengths and the potentials that Armenian mining industry has, as well as highlight the problems the solution of which will enable to develop the sector.<\/em>

Mining as the key to economic development<\/strong>

For years, we have been looking for the key to economic development in Armenia, giving priority to the IT sector, tourism or agriculture. However, every time after global and regional upheavals, it becomes obvious that these sectors are not enough for sustainable economic development and for competing with neighboring countries. The COVID-19 pandemic, the war, the strengthening of Armenian dram and the regional instability have shown that the abovementioned sectors are much more sensitive to such upheavals and cannot be the pillar that the domestic economy can rely on.

The opposite can be said about the mining sector. During this difficult period, the sector remained stable and assumed the main financial burden of the country. So, there is no need to reinvent the wheel to find the key to economic development. All one has to do is study the path and experience of developed economies and see how the mining industry has contributed to the further development and diversification of the economy.
Read more<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

My experience and knowledge gained over 25 years in the mining sector, many years of communication with a variety of international investors, connections and exchange of experience with the international mining community allow me to make comparisons between the mining industries of different countries, see the strengths and the potentials that Armenian mining industry has, […]<\/p>\n","protected":false},"author":6,"featured_media":413,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"archive_year":[46],"class_list":["post-1380","news-archive","type-news-archive","status-publish","has-post-thumbnail","hentry","archive_year-46"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive"}],"about":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/types\/news-archive"}],"author":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/comments?post=1380"}],"version-history":[{"count":0,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1380\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media\/413"}],"wp:attachment":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media?parent=1380"}],"wp:term":[{"taxonomy":"archive_year","embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/archive_year?post=1380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":1378,"date":"2022-04-22T09:35:00","date_gmt":"2022-04-22T09:35:00","guid":{"rendered":"https:\/\/lydianarmdev.wpenginepowered.com\/?post_type=news-archive&p=1378"},"modified":"2026-01-26T11:04:38","modified_gmt":"2026-01-26T11:04:38","slug":"us-ambassador-tracy-visited-the-lydian-mine-project-site-in-amulsar-on-april-20","status":"publish","type":"news-archive","link":"https:\/\/lydianarmenia.com\/en\/news-archive\/us-ambassador-tracy-visited-the-lydian-mine-project-site-in-amulsar-on-april-20\/","title":{"rendered":"US Ambassador Tracy visited the Lydian mine project site in Amulsar on April 20"},"content":{"rendered":"\n

Ambassador Tracy visited the Lydian mine project site in Amulsar on April 20. The Ambassador encouraged an expeditious and transparent resolution of outstanding disputes around the project. She welcomed Lydian\u2019s commitment to upholding the highest international labor and environmental standards and noted the potential for the project to serve as a significant driver of growth for Armenia\u2019s economy.

here<\/em><\/strong><\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Ambassador Tracy visited the Lydian mine project site in Amulsar on April 20. The Ambassador encouraged an expeditious and transparent resolution of outstanding disputes around the project. She welcomed Lydian\u2019s commitment to upholding the highest international labor and environmental standards and noted the potential for the project to serve as a significant driver of growth […]<\/p>\n","protected":false},"author":6,"featured_media":776,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"archive_year":[45],"class_list":["post-1378","news-archive","type-news-archive","status-publish","has-post-thumbnail","hentry","archive_year-45"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive"}],"about":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/types\/news-archive"}],"author":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/comments?post=1378"}],"version-history":[{"count":0,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media\/776"}],"wp:attachment":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media?parent=1378"}],"wp:term":[{"taxonomy":"archive_year","embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/archive_year?post=1378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":1322,"date":"2020-11-30T07:24:59","date_gmt":"2020-11-30T07:24:59","guid":{"rendered":"https:\/\/lydianarmdev.wpenginepowered.com\/?post_type=news-archive&p=1322"},"modified":"2026-02-01T15:35:58","modified_gmt":"2026-02-01T15:35:58","slug":"armenia-then-and-now-reexamining-mining-in-amulsar","status":"publish","type":"news-archive","link":"https:\/\/lydianarmenia.com\/en\/news-archive\/armenia-then-and-now-reexamining-mining-in-amulsar\/","title":{"rendered":"Armenia Then and Now: Reexamining Mining in Amulsar"},"content":{"rendered":"\n

<\/a><\/p>\n\n\n\n

“The  Armenia\/Azerbaijan ordeal will perhaps never really be over, but whatever is decided, Armenia will need wealth to meet its needs, the needs of its people, and getting Amulsar on stream, a fully monitored stream, is very much what is needed today. And today, government and society should prioritize Amulsar. There\u2019s a war still lurking in the neighborhood; perhaps it can be avoided, as well as afforded”.

 
<\/strong>The full article by Dr. John Harker, the former Chairman of the Independent Advisory Panel for the Amulsar Project, read here<\/strong><\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

“The  Armenia\/Azerbaijan ordeal will perhaps never really be over, but whatever is decided, Armenia will need wealth to meet its needs, the needs of its people, and getting Amulsar on stream, a fully monitored stream, is very much what is needed today. And today, government and society should prioritize Amulsar. There\u2019s a war still lurking […]<\/p>\n","protected":false},"author":6,"featured_media":2151,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"archive_year":[43],"class_list":["post-1322","news-archive","type-news-archive","status-publish","has-post-thumbnail","hentry","archive_year-43"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive"}],"about":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/types\/news-archive"}],"author":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/comments?post=1322"}],"version-history":[{"count":0,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media\/2151"}],"wp:attachment":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media?parent=1322"}],"wp:term":[{"taxonomy":"archive_year","embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/archive_year?post=1322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":1321,"date":"2020-07-31T07:19:00","date_gmt":"2020-07-31T07:19:00","guid":{"rendered":"https:\/\/lydianarmdev.wpenginepowered.com\/?post_type=news-archive&p=1321"},"modified":"2026-01-26T07:21:04","modified_gmt":"2026-01-26T07:21:04","slug":"we-have-been-looking-for-mythic-evils-in-gold-for-already-two-years-instead-of-just-mining-it","status":"publish","type":"news-archive","link":"https:\/\/lydianarmenia.com\/en\/news-archive\/we-have-been-looking-for-mythic-evils-in-gold-for-already-two-years-instead-of-just-mining-it\/","title":{"rendered":"\u201cWe have been looking for mythic evils in gold for already two years instead of just mining it\u201d"},"content":{"rendered":"\n

Hayk Aloyan’s interview with aravot.am<\/a><\/p>\n\n\n\n

\u2013 What is the situation at Amulsar? It is widely rumored that the Government is resolved to allow [mining at] Amulsar?<\/strong>

\u2013 Well, there is some delusive opinion that Lydian\u2019s right to operate is yet to be determined or specified. I\u2019d like to make it clear that there is nothing to resolve from the perspective of the law.   Lydian has all the necessary licenses and permits, and these permits have not been cancelled legally. The only reason why Lydian has not been operating for the last two years is the illegally blocked roads and the failure of the law-enforcement to act.  In this light, the latest developments suggest that the Police still fail to carry out their duties. Nothing has changed in this sense, at least at this moment, unless trespassers are removed from Lydian\u2019s private territory.

<\/p>\n\n\n\n

\u2013 Lydian\u2019s former employees, some community residents supporting the Project conducted a number of campaigns during the last few days, claiming that most of the community residents come out in support of mining at Amulsar.  At the same time, \u201cAmulsar defenders\u201d insist that most of the community residents are against operation of the mine.  The situation on access roads to Amulsar grows tense from time to time. If, as you said, people in the communities mostly support the Project, and the only obstacle is blockage of the roads, why don\u2019t your supporters in the communities reopen the roads?<\/strong>

\u2013 Do you believe that gladiator fights or battles of villagers armed with pitchforks should decide which company has a right to work in the country and which one hasn\u2019t? <\/p>\n\n\n\n

\u2013 I don\u2019t think so, but if, in your words, the Government fails to act, what were you waiting for? <\/strong><\/p>\n\n\n\n

\u2013 We were not waiting. As a law-abiding company we anticipated an enforcement of the law. Unfortunately, these two years showed that the endless and numerous expert assessments\/audits, which, for the record, do not justify the unlawful blockage of the roads, were just opportunities to endlessly delay with the resolution of the situation. There is no environmental issue here, it has grown into a political issue, and the entire world follows the situation in Armenia, where the most environmentally-sound mining investment project has become hostage to political games.<\/p>\n\n\n\n

\u2013 Speaking of which, why hasn\u2019t Lydian launched arbitration proceedings? <\/strong>

– I would divide the answer to this into three parts: First, even a small investor tries to establish a sustainable business instead of launching proceedings that will last for years. So, in case of about 400 million dollars investment, the investor hopes that the issue will be resolved. Second, Lydian will initiate arbitration proceedings, if there is no other way out of the situation, and will win, and I have no desire to comment on the absurd statements that it [Lydian] can\u2019t win. Third, if Lydian launches arbitration proceedings, it will be an irreversible process, and neither the government nor the opponents will gain from it. That process will take years, during which and then for many years to come, Armenia will be a black spot on the investment map. I don\u2019t want Armenia to turn into a third world country. Unlike me, all those, who intentionally or involuntarily force Lydian to make that step, want that or will eventually face that.

-What are you doing now? Are you conducting any works on Site?<\/strong>

\u2013 For the time being, the communities are in an extremely poor situation. Lydian feels responsibility for these communities. We try to employ people, resume some social programs. We are conducting inventory and repairs currently. We plan to involve as much labor force from local communities into service works as possible. During these years, part of our experts, employees have migrated. We are going to refresh our database to figure out the situation with potential labor force in the communities.

\u2013 The [Project] opponents set environmental issues against social and economic ones, don\u2019t they?<\/strong>

-Amulsar is the only mining project in the country to have environmental design that passed international audit, and this speaks for itself. Environmental concerns associated with Amulsar are at the level of 5G and microchip conspiracies associated with coronavirus. The last few months proved that there are \u201cexperts\u201d in every kind of absurd theories. So, let me not speak about such absurdities. Meantime, the reality is clear. This year, Russia received more incomes from gold mines rather than from oil exports for the first time during the last several decades, due to the unprecedented high gold price.  Meanwhile, we have been sitting on 70 tons of gold in the region\u2019s best gold mine and looking for mythic evils in it for two years already instead of just mining it. All while our enemy is shooting at our border from weapons bought for oil.  Our people should finally decide if we should bury a several-billion-strong resource and the country\u2019s investment reputation without any substantial reason or do the right things and do not repeat our historical mistakes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hayk Aloyan’s interview with aravot.am \u2013 What is the situation at Amulsar? It is widely rumored that the Government is resolved to allow [mining at] Amulsar? \u2013 Well, there is some delusive opinion that Lydian\u2019s right to operate is yet to be determined or specified. I\u2019d like to make it clear that there is nothing to […]<\/p>\n","protected":false},"author":6,"featured_media":614,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"archive_year":[43],"class_list":["post-1321","news-archive","type-news-archive","status-publish","has-post-thumbnail","hentry","archive_year-43"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive"}],"about":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/types\/news-archive"}],"author":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/comments?post=1321"}],"version-history":[{"count":0,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/news-archive\/1321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media\/614"}],"wp:attachment":[{"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/media?parent=1321"}],"wp:term":[{"taxonomy":"archive_year","embeddable":true,"href":"https:\/\/lydianarmenia.com\/en\/wp-json\/wp\/v2\/archive_year?post=1321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}]