Lydian Armenia Incurs Unproductive Production Costs

According to the "Hayots Ashkharh" newspaper, based on its sources, a parliamentary commission investigating the legality, justification, and credibility of financial and other reports submitted by the executive authorities regarding investment projects in the metallic mining sector is set to make revelations soon.

Specifically, it pertains to the financial expenditures of Lydian Armenia, which was supposed to operate the Amulsar mine. Our sources report that the commission has reviewed documents indicating that the company has incurred unproductive production costs.

“If Lydian Armenia claims to have invested 400 billion drams, we need to understand where those investments were made and what their effectiveness is. Such investigations should be conducted,” stated the chairman of the commission, Sergey Bagratyan, in an interview with the newspaper.

For more details, refer to this issue of the newspaper.