ArmInfo. "We are confident that the standards Lidian Armenia operates by create minimal risk to the environment," Vardan Janyan, Chairman of the Mining and Metallurgy Association and First Deputy General Director of the Zangezur Copper and Molybdenum Combine (ZCMC), said during a briefing with journalists on October 16 on the sidelines of the Mining Armenia Forum.
He also asked environmentalists opposed to the Amulsar mine why they used cars to protest in Jermuk, given the environmental impact they pose. The head of the Association noted that environmental risks are only considered when discussing projects. "And the positive impact on our economy will be colossal, and we welcome this," Janyan noted.
It should be noted that the Amulsar mine was launched on October 10, 2026. Pashinyan, launching the operation, stated that the Amulsar gold mine will produce approximately 210,000 ounces of gold per year. It is noted that as a result of the mine's operation, Lydian Armenia's annual taxes and royalties paid to the state budget will amount to approximately $130 million, which will have a positive impact on Armenia's GDP of 1.5-2%. The Amulsar project is expected to create more than 4,000 direct and indirect jobs. According to the community development agreement signed between the government, Lydian Armenia, and and the communities of Jermuk, Vayk, and Sisian, it is planned to allocate $7-9 million annually for community socio-economic development programs throughout the mine's life. The project is being implemented as part of a strategic partnership between Lydian Armenia and the Armenian government. The company has invested approximately $750 million in the project, $150 million of which is secured by a state guarantee issued by the Armenian government. Environmentalists have criticized this decision by the Armenian authorities, emphasizing that the mine's operations will cause irreparable damage to the Jermuk resort and Lake Sevan.
