ArmInfo.The company Lydian Armenia, which started the program on exploitation of Amulsar gold deposit, is ready to work openly and transparently according to the traditions of American business. The US Ambassador Extraordinary and Plenipotentiary to Armenia Richard Mills expressed such an opinion on August 31 on the margins of the event timed to the presentation of Lydian International's first annual report on sustainable development.
"I am impressed with today's presentation, in which the company introduced us as fulfilling its obligations to the environment, its employees, and the communities adjacent to the field. And it's good to see that British and American business cultures are being introduced in their work," the Ambassador said.
An important fact, according to Mr. Mills, is that the company, along with conducting open activities, is also ready to represent the risks that are usually encountered in the extractive industry.
He noted that after visiting Lydian Armenia in order to get acquainted with the activities of the company, and visiting the communities that are affected by the work carried out at the field, he was impressed. <I saw, and how interesting in terms of profit can be for communities to carry out work, and what risks can there be. And here it is very important that the Government of Armenia, together with the communities, balance these risks to ensure profit. And the company, as we see, expresses full readiness to be responsible for its activities," concluded R. Mills.
Lydian Armenia is a subsidiary of the British Lydian International, whose shareholders are also major international institutional investors from the United States, Britain and several European countries, including IFC and EBRD. The Amulsar project is the largest industrial project in Armenia today for the development of the Amulsar gold deposit with a total value of $ 370 million. In August 2016, a project for the construction and development of the field was launched. Preliminary work has been carried out since 2006. The operation life of the Amulsar field will be 10 years and 4 months, annually it is planned to produce an average of 200 thousand ounces of gold (about 10 million tons of ore). The company's shares are quoted on the Toronto Stock Exchange. The Amulsar deposit is the second largest in Armenia.