Time in Yerevan: 11:07:36,   25 June

Armenia demonstrators block road leading to Lydian’s Amulsar gold mine in protest

YEREVAN, MAY 23, ARMENPRESS. Demonstrators from Gndevaz village and the town of Jermuk of Armenia’s Vayots Dzor province continue blocking the road leading to the Amulsar  gold mine in a protest against the mine project.

Demonstrators demand to stop the project.

The protesters call on authorities to focus on the development of tourism, to direct investments in this area, because the existing oppostunities of Jermuk are sufficient for solving the employment issue without development of mining, according to them.

Amulsar Gold Project, operated by Lydian, is located in south-central Armenia. Amulsar will be a large-scale, low-cost operation with production expected to begin in 2018. Gold production is targeted to average approximately 225,000 ounces annually over an initial 10-year mine life, making Lydian one of the largest gold producers to emerge during 2018. Open pit mining and conventional heap leach processing contribute to excellent scale and economic potential. Estimated mineral resources contain 3.5 million measured and indicated gold ounces and 1.3 million inferred gold ounces as outlined in the Q1 2017 Technical Report. Existing mineral resources beyond current reserves and open extensions provide opportunities to improve average annual production and extend the mine life.

English –translator/editor: Stepan Kocharyan


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