“The Amulsar gold mine project is a shining example that it’s possible to have a viable mining industry with application of environmental standards in Armenia,” U.S Ambassador Richard Mills said at a business conference on viable mining industry this week.
The mining industry can be a profitable investment for Armenia, if it based on transparent, responsible, social and environmental international standards.
So, what makes the Amulsa gold mine project, and the owners – mining company Lydian International, such a strong example of transparent and environmentally sound mining?
Looking at Lydian
Lydian International is an emerging gold developer with its flagship 100 percent owned Amulsar Gold Project – more on that later.
The company is headed up by President and Chief Executive Officer Howard Stevenson. Mr Stevenson has over 25 years of global mining industry experience in corporate strategy, mine development and operations, mineral economics, business development and mergers and acquisitions on projects all around the world. Before his role at Lydian, he was President and Chief Operating Officer of Alacer Gold Corp.
Lydian operates the Amulsar Gold Project and has a mine licence for the Kela Project in Georgia.
The company was attracted to Armenia in 2005, with the Amulsar Gold deposit being discovered in 2006. Mining within Armenia and metal processing dates back centuries, but the modern mining industry was established during the Soviet Union period.
Lydian is not the only company to make home in Armenia, the company is neighboured by Dundee Precious Metals, Global Gold Corp, Cronimet and GeoProMining.
CSR, as we are ever keen to mention, is hugely important to the success of any mining company, and Lydian was namedropped as a key example of strong CSR. Lydian is a significant employer of locals as well as hosting sustainable community projects across the country.
“Sustainable development, protection of human life and health, the environment, and adding value to the communities in which we operate are all paramount to our corporate social responsibility”
You can find out more about Lydian’s strong and highly inspiring approach to CSR here.
The Amulsar Gold Project
Onto the titular project, the Amulsar Gold Project will be Armenia’s largest gold mine, with total estimated mineral resources containing five million ounces, and targeted projection at +200,000 ounces annually.
The Amulsar gold project is located 170km south of Armenia’s capital Yerevan on the border between the provinces of Vayots Dzor and Sunnik.
Although the alteration had been mapped in early Soviet times for a silica resource, and later Soviet exploration had been carried out for silica, gold was not reported until a reconnaissance trip by Lydian geologists in 2005 recognised the potential for epithermal-style gold mineralisation in rocks nearby.