Lydian Armenia to get first golden ingot gained at the Amulsar  deposit 

ArmInfo.The Company of Lydian Armenia occupied with the development of Amulsarv golden deposit, will get the first golden ingot in March 2018. This was stated by Howard Stivenson, the Chairman and Executive Director of Lydian  Armenia during his meeting with Suren Karayan, the Minister of  Economic Development  and Investments  of Armenia, the press office  of the Ministry informs.  

According to Stivenson, the construction works in Djermuk  got new  pulse. Stivenson mentioned that it  is very easy to work with  Armenian Government, because it  works very transparent and responds  the suggestions and inquiries of the Company  very promptly. The  Company head informed also that the project  will be implemented  during 18 months. "We are intended to invest USD 370 mln and to  create up to 700 permanent jobs for ten years and 1300 part time  jobs. The  project assumes also to reach the annual volume  of gold  export at the level of about USD 259 mln,"  Stivenson noted. He also  expressed hope that the project will promote implementation of  governmental projects and goals. 

In his turn, Suren karayan mentioned that Armenian Government  considers this project very important and supporting one for the  ining industry of the country. 

The Amulsar Project  is one of the largest  industrial projects in  Armenia  related to the development of Amulsar Golden  Deposit, which  is the second  in respect to golden reserves in Armenia. It  contains  up to 31 mln tons of  golden ore and 40 tons net gold. It is located  at the South-East sector of the country, 13 km far from Djermuk. 

The official ceremony of  the Project launching was held in  August  2016. The project assumes the construction and the development of the  deposit. Preparation works have been implemented starting with 2006.  The Amulsar deposit operation term will form 10 years and 4 months,  and it is planned to gain 200 000  ounces of gold (about 10 mln tons  of ore). Within the framework of this project 1300 jobs will be  created  in respect to construction (construction works will last for  2 years), and 650-700 jobs during whole the period of the deposit  operation.