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Lydian Announces Water Permit Granted for Construction but Blockades Continue

Lydian International Limited announced today that the Ministry of Environment of the Republic of Armenia has granted Lydian Armenia a permit to draw water from the Arpa River at a volume of 11l/s.

The Company had previously sought permission to draw water from the Arpa River on two prior occasions with higher level flow rates (in excess of 40l/s) to support long term operations, both of which were denied by the MOE.  On December 23, 2019, the Company applied to the MOE to draw water at the lower flow rate, which is estimated to be enough to support completing construction of the Amulsar Project.

The Company had also previously applied to draw water from the Darb River at a volume sufficient to support longer term operations. That application was also rejected by the MOE in October 2019.  The Company is disputing the MOE’s rejection in the Administrative Court of Armenia.  

Edward Sellers, Interim President & CEO of Lydian International, said today: “We recognize that the Government of Armenia has granted Lydian Armenia a water use permit that would allow the Company to recommence construction.  However, the Company is still deprived of access to its property by illegal blockades and has been unable to raise financing to complete construction of the Amulsar Project as a result.”

“We call on the Government of Armenia to take immediate action to address the continuing illegality around the Amulsar Project.  The restoration of the rule of law will serve the interests of thousands of Armenian citizens, including community members, employees, contractors and suppliers, as well as thousands of investors who invested in Armenia in good faith and with the hope that their legal rights would be protected.”

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