Lydian Plans to Appeal to International Arbitration Court

The newspaper "Zhamanak" reports that "Lydian Armenia" is preparing to appeal to the international arbitration court, claiming that Armenia has not provided fair and equitable treatment for its investments, has not ensured the physical protection of the company's operations, and has failed to uphold its obligations to investors from the United Kingdom and Canada.

Lydian estimates the damage caused by road closures to amount to $101 million. It remains to be seen whether Armenia will counter Lydian with a lawsuit, justifying the environmental and community harm caused by the company’s operations, and generally to the planet. We believe that the damage is difficult to quantify in numbers and dollars.

For more details, refer to today’s edition of the newspaper.