Amulsar to be Exploited: Tripartite Memorandum Signed with Lydian Armenia

A tripartite memorandum of understanding was signed a short while ago between the government of Armenia, the Eurasian Development Bank, and Lydian Armenia LLC. The document was signed by the Minister of Economy Vahan Kerobyan on behalf of the Armenian government.

The Minister of Economy had previously stated that the government would sign a $250 million agreement with Lydian Armenia, which holds the license for the exploitation of the Amulsar gold mine.

“Today we will sign documents related to another major mine that will announce the resumption of that mine. It is about Amulsar. At 5 PM today, we will sign a package worth $250 million that will allow us to resume another mine, for which obligations have long existed,” the minister said.

The Ministry of Economy announced that in exchange for the exploitation of the Amulsar gold mine, Armenia will receive 12.5 percent of the shares of Lydian Armenia.