When Will the Amulsar Gold Mine Begin Operations?

The Amulsar gold mine, led by Lydian Armenia, is expected to commence operations either by the end of this year or at the beginning of 2025. This was stated by Babken Tunyan, the vice-chairman of the Permanent Commission on Economic Issues during a meeting of the commission.

“As a result, there will be no issues regarding gold raw materials in our country,” he noted.

On June 6, 2023, the leaders of Lydian Armenia and Eldorado Gold Corp had a discussion with Deputy Prime Minister Mher Grigoryan, during which they expressed their intention to jointly implement the Amulsar project. The timeframes for resuming construction at the Amulsar site, the expected timeline for the start of operations, the progress of investment program financing, and issues related to cooperation between the state and the company were discussed.

Amulsar is the second largest gold deposit in Armenia. It is managed by Lydian Armenia LLC, a subsidiary of the international company Lydian International. The mine has been inactive for a prolonged period of time. The Lebanese company Elard conducted an environmental risk assessment during the mine's operational phase.