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Lydian Armenia to issue first gold bar next year

Minister of Economic Development and Investments of Armenia Suren Karayan received the delegation led by President, CEO and Director of "Lydian International” Ltd Howard Stevenson.

As “Armenpress” was informed from the press service of the Ministry of Economic Development and Investments, the Minister expressed satisfaction over the activities of the company in Armenia and added he would like to be informed on the ongoing works and expressed readiness to listen to problems and proposals.

“I am glad for the launch of the project and hope the construction works will continue at a faster pace and the enterprise will start operating in March, 2018 releasing its rst product”, Suren Karayan said, adding the Armenian Government attaches great importance to this project, which will foster the development of mining industry in Armenia.

Howard Stevenson thanked the Minister for the reception and informed that new pace is given to the construction works in Jermuk city and “Lydian Armenia” will issue its rst gold bar in March, 2018.

"‘We nd it very easy to work with the Government of Armenia since it is very open and prompt in responding to any of our proposals. We will implement the projects within 18 months, starting from now till 2018. We plan to invest 370 million USD and create 700 permanent jobs for 10 years and 1300 will combine jobs. By this project we expect to export products amounting to 259 million USD annually with an investment of 370 million USD. I think it will help the Government of Armenia to implement all its goals and projects”, Howard Stevenson said.

During the meeting the members of the delegation presented some issues related to the implementation of the project. Minister Karayan promised to discuss them and inform the leadership of the company on proposals.