Lydian Armenia Allocates $1,143,000 to Communities Surrounding Amulsar

Lydian Armenia, continuing its established end-of-year tradition and guided by its accountability to the communities surrounding Amulsar, presents the payments made for land leases in community budgets for the year 2022.

In 2022, the total amount paid by the company for land leases to three communities (Jermuk/Gndevaz, Gorayk, Vayk/Saravan) amounted to 446,782,896 AMD, which exceeds $1,143,000. The breakdown by community is as follows:

• Jermuk/Gndevaz – 195,949,236 AMD
• Gorayk – 121,845,480 AMD
• Vayk/Saravan – 128,988,180 AMD

Despite the numerous challenges faced by Lydian Armenia in recent years, the company has consistently fulfilled its commitments since 2008, paying over $9 million equivalent in AMD to community budgets over these years for land leases.

We are confident that in the coming year, the amounts paid for land leases will be just one of many avenues of Lydian Armenia's and the Amulsar project's economic impact on the communities. Today, more than ever, the economic stability of these communities is vital for maintaining a cohesive society and secure borders, considering the new reality established in the areas.