12.5% of Lydian Armenia Shares Transferred to the Government of Armenia

Today, a signing ceremony took place at the Ministry of Economy of Armenia, where the agreement was signed by Minister of Economy Gevorg Papoyan on behalf of the Government of Armenia and by Hayk Aloyan, Director of Lydian Armenia. Minister Gevorg Papoyan announced this on his Facebook page.

The project has already seen an investment of $500 million, with an additional $250 million planned, which is expected to create around 1,000 new jobs.

Minister Gevorg Papoyan stated that the signing of this agreement signifies the successful overcoming of all phases, thorough work has been done, and all risks or expressed concerns have been addressed. “This is a mega project that will lead to the creation of over a thousand jobs, payments to the state budget in the form of taxes, but most importantly, it will contribute to the development of the respective community. We believe in the success of this project,” said Gevorg Papoyan.

In response to journalists' questions, Hayk Aloyan, Director of Lydian Armenia, mentioned that construction work at the Amulsar mine will begin in the upcoming quarter, with actual operations expected to commence in the fourth quarter of 2025.