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YEREVAN, OCTOBER 31, ARMENPRESS. Minister of Economy Gevorg Papoyan has expressed hope that the Amulsar Gold Mine will start gold extraction next year.
“There’s a process regarding Amulsar. We are in processes regarding the funding over this issue. One part of the funding is already ready, while there’s still a process regarding the other part, there’s some crediting process. We hope to finish it this year, and I have high hopes that next year we will have extraction at least for one quarter. If we succeed to have two quarters, we will have better economic results compared to what we have outlined for next year,” Papoyan told reporters.
In January 2024, the Armenian government announced that Amulsar operator Lydian Armenia will donate 12,5% of its shares to the Armenian government. But the shares haven’t been transferred yet. Asked on the delay, Papoyan said, “These are interrelated processes. We agreed to resolve all issues, including that issue, in one package. There’s nothing special there.”