Tuesday, September 10 2013

 Following a visit to the Amulsar site on September 3, 2013, an EBRD environmental specialist concluded that Lydian has made tremendous progress in restoring the land that was disturbed by mine exploration activities, including roads and drill pads that are no longer needed, the company said in a press release.

Rehabilitation and ongoing environmental activities are an integral part of a modern responsible mining operation. Geoteam has been doing exploration at Amulsar since 2006 and as part of its commitments to carry out the Amulsar project in line with international best practice and in accordance with IFC and EBRD requirements, the company has initiated exploration works rehabilitation and recultivation activities at Amulsar.  Those sites that are not intended to be used as part of the  mine development and related infrastructure in the future but have been disturbed during exploration are being currently rehabilitated.

 The specialist also noted that Lydian is improving drainage on roads and other areas that will be used in the future in order to prevent erosion from future snowmelt and rainfall run-off.  It is encouraging that the work is being done by local people from surrounding villages, and heavy equipment is being operated by local people, with the work being frequently monitored by the exploration and development team and management of Geoteam.  Besides the rehabilitation and mine reclamation work being done, EBRD observed that Geoteam staff are collecting and managing wastes in accordance with best international practices, including keeping metal, paper, plastic, and other types of wastes separate so they can be reused or recycled to the maximum extent possible.  EBRD reported to Lydian that they were impressed with the amount of work being done, with over 35 people working full-time on just environmental restoration and improvements.

Amulsar is a brand new gold discovery, the first for over 20 years in Armenia. The European Bank for Reconstruction and Development became a shareholder of Lydian International in 2009 and on 21 March 2012 it increased its share to 6.80%. The International Finance Corporation, a member of the World Bank Group, owns 10.23% of the shares.