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Memorandum of Understanding for Establishment of Jermuk National Park Signed

Memorandum of Understanding for establishment of Jermuk National Park was signed between Republic of Armenia Ministry of Nature Protection and Lydian Armenia CJSC.

Lydian Armenia anticipates investing as much as 5 million USD over a period of 5 years in the Jermuk National Park Project. This is a comprehensive project and is aimed both at biodiversity conservation and ensuring Jermuk National Park sustainability through deployment of ecotourism and eco-agricultural programs.

Modern day international practice demonstrates that it is possible to carry out mining responsibly, using efficient modern technologies. The protection of biodiversity is one of the highest environmental priorities around the globe today. The creation of this large National Park (estimated to be approximately 25,000 hectares) will take great strides in ensuring the preservation and protection of Armenian natural biodiversity. Armenian Government welcomes these kind of initiatives on behalf of private sector at the same time exercises strict control over management of environmental risks and biodiversity conservation. From this point of view the government has highly appreciated willingness and proactivity of Lydian Armenia with regard to establishment of Jermuk National Park, which demonstrates commitment to appropriate environmental compliance and effective cooperation in future for the sake of the nature and biodiversity conservation.



Lydian Armenia and its shareholders are committed to implement the Amulsar Project in accordance with the environmental and social good international practice. The Company not only will invest over 5 million USD in the Jermuk National Park Project, it has also involved best international biodiversity specialists. By the joint efforts of world-known specialists and best Armenian scientists Jermuk National Park may become an exemplary biodiversity conservation program not only in the region, but also in the international mining practice.

The Jermuk National Park Project details, objectives and implementation mechanisms were presented by team leader of Jermuk National Park project Ramaz Gokhelashvili, a biodiversity management expert from the environmental consulting company Treweek Environmental Consultants (UK).