Armenia Gives Clearance for Lydian’s Amulsar Project to Proceed
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Lydian International Limited said that Prime Minister Nikol Pashinyan, of the Republic of Armenia, stated, “The information we currently have at this moment is very clear, the exploitation of the mine does not harm the environment.” The Prime Minister went on to state that Lydian would be permitted to proceed with the Amulsar Project.
“Thousands of Lydian supporters welcome final recognition from the Government of Armenia that there are no grounds for preventing Lydian from completing and operating the Amulsar Project,” said Edward Sellers, interim president & CEO of Lydian.
“There are significant challenges ahead as Lydian moves to recover and rebuild its capacity to operate over the coming months, but we are looking forward to engaging with our stakeholders and positioning Lydian to be able to get back to work,” added Sellers.
“Lydian has been fully transparent in its environmental and operating practices. Those practices meet or exceed all applicable international standards and were fully evaluated and confirmed as part of the comprehensive environmental impact assessment under which Lydian received its mining permits,” said Sellers.
About Lydian International Limited
Lydian is a gold developer focused on construction at its 100 percentowned Amulsar Project, located in south-central Armenia. However, illegal blockades have prevented access to Amulsar since late June 2018. Amulsar is expected to be a large-scale, low-cost operation with production targeted to average approximately 225,000 ounces annually over an initial 10-year mine life. 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. Lydian is committed to good international industry practices in all aspects of its operations including production, sustainability, and corporate social responsibility.
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