Lydian Armenia will allocate over $100 million to local communities as part of the Amulsar gold mine exploitation program. The corresponding agreement was signed on August 31 with the Ministry of Economy and the heads of the consolidated communities of Sisian, Vayk, and Jermuk.
The Minister of Economy Georgy Papoyan stated that the funds will be distributed as follows: the company will allocate $7-8 million annually to the communities, and starting from 2027, this amount may increase to $9 million depending on the international gold prices. The communities are required to direct 20% of the allocated funds to the development of nearby settlements.
He also mentioned that gold ore extraction will begin at the mine in September. This is a large investment program, within which the company has already invested over $750 million under the public-private partnership.
According to him, if these funds are directed to other purposes, decisions on their distribution will be made by a specially created Council consisting of company representatives and community heads.
