ArmInfo. The government has no justifiable grounds for demanding the start of a new stage of questions to Lydian on the Amulsar project
No such requirement was imposed on any other of the companies operating in Armenia. This is stated in the message of Lydian Armenia, published as a response to the statement of Prime Minister of the Republic of Armenia Nikol Pashinyan of March 12, in which he spoke about the intention of the RA government to initiate a new stage of questions to Lydian, including 154 questions.
According to the source, over the past 21 months, Lydian has suffered damage exceeding $ 119 million, wasting most of its time and resources on at least 3 comprehensive environmental audits and providing answers to the countless questions raised during the examinations.
"The company gave comprehensive answers to questions regarding the environmental impact of the Amulsar program, which cannot be said about numerous questions that have not yet received answers regarding actions and inaction of the government regarding Lydian and the Amulsar project, "the company said in a statement. The report noted that the Government of Armenia should ensure fair and equal competitive conditions with respect to Lydian, the rule of law and protect not only the legal rights of the company and its investors, but also those thousands of Armenian citizens who were severely affected by the illegal blockade of roads leading to Amulsar, and as a result of this long lawlessness continue to bear enormous social and economic difficulties.
To recall, Lydian Armenia is a subsidiary of the British offshore Lydian International. The total cost of the Amulsar project is $ 370 million. The field's life is 10 years and 4 months, with an average of 200 thousand ounces of gold being mined annually. Amulsar field is the second largest reserve in Armenia. According to the company, the deposit contains about 73733 kg of gold with an average grade of 0.78 g per ton, as well as 294.367 tons of silver with an average grade 9.29 g per ton. It is located in the south-east of the country, 13 km from the spa town of Jermuk, between the rivers Arpa and Vorotan.
It should be noted that despite Lydian's assurances that about $ 300 million has already been invested in the Amulsar gold deposit development project, environmentalists do not share the government's enthusiasm about the attractiveness of the mine's exploitation plan. Environmentalists fear that the exploitation of the field, during which sodium cyanide will be used, may lead to the oxidation of water in rivers. Contaminated waters will become unsuitable for drinking and irrigation and may cause irreparable harm to the mineral springs of Jermuk and the ecosystem of Sevan.
Since the end of 2018, the road to the field has been blocked by environmental activists. The company recently announced that it is launching a delisting process for its shares that are listed on the Toronto Stock Exchange.