Armenia to Receive 12.5% Shares of Lydian Armenia in Exchange for Amulsar Mine Operations

Armenia will receive 12.5% of the shares of Lydian Armenia in exchange for the exploitation of the Amulsar gold mine.

This information was confirmed in a conversation with the Ministry of Economy, as reported by Armenpress.

During a session of the National Assembly's Standing Committee on Economic Issues, Minister of Economy Vahan Kerobyan announced that a $250 million contract would be signed with Lydian Armenia. In response to clarifying questions about whether the Government will purchase these shares for $250 million, the Ministry of Economy stated, “No, the Government is not spending anything.”

The Armenian government will sign a $250 million agreement with Lydian Armenia, which holds the license for the exploitation of the Amulsar gold mine. A tripartite memorandum of understanding will be signed between the Government of Armenia, the Eurasian Development Bank, and Lydian Armenia LLC. The document will be signed by Vahan Kerobyan, the Minister of Economy of Armenia.