Lydian International to Seek International Arbitration

The newspaper 'Hraparak' reports that four days ago, 'Lydian International Limited,' the company operating the Amulsar mine, announced its intention to resort to international arbitration, which will be initiated 3 to 6 months after notification. The implementation of the project has been suspended since the summer due to road blockages, and 'Lydian's' applications directed to the Armenian government have gone unanswered. The government has decided to conduct a new examination, for which $400,000 has been allocated from the budget.

Our sources indicate that in recent months, various lawyers have already been working for 'Lydian,' and they have assured that the chances of winning are close to 100 percent. As for the assessment of damages, although figures have not yet been published, discussions suggest an amount of $1.5 billion, which includes the invested $400 million, damages incurred over the past 8 months, and the potential revenue that the company could have earned had it been allowed to operate the mine.

Further details can be found in today's edition of the newspaper.