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Some answers to the concerns on taxation issues

Armenia is one of the countries with average to high taxation for mining according to a study conducted by the international accounting firm PricewaterhouseCoopers in 2008.

Armenian Mining Royalty Tax comprises two components: a top line 4% charge on the revenue from metal sales and a 12.5% charge on operational profits. In addition there is a 20% Corporate Tax and the usual employment and other taxes.

The fact that Lydian is a publicly listed company, with significant major institutional investors in its shareholders' list, is the best guarantee that the company will be a highly responsible taxpayer with a full financial transparency. 

Overall Lydian anticipates to contribute AMD 35.5 billion annually (US$ 86.5m) at peak production to the State of Armenia budget.

This does not include our extensive social projects that already bring tangible positive change to the nearby communities. The latest news on our social projects can be found here.

Transparent revenues, environmental and social responsibility, best international practice and good governance are the internationally adopted simple formula ensuring maximum benefits for the country from any investment.

We are certain, that our high-class professionals working in Armenia will bring the expertise and knowledge of years of work in countries like Canada, Australia, the US, etc., to the Amulsar project and it will be helpful when implementing and consistently pursuing the best international practice of responsible mining in Armenia.

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