Some 81.4 billion drams to be invested in acquisition of equipment for Amulsar gold mine
YEREVAN, April 30. /ARKA/. Mota-Angil Mining Caucasus LLC will implement an 81.4 billion drams investment program at the Amulsar gold mine in Armenia.
By the government decision, the company will benefit from an exemption from import customs duties as part of its investment program in a priority sector.
Mota-Angil Mining Caucasus LLC's investment program is being implemented under a mining services agreement concluded with Lydian Armenia CJSC for the development of the Amulsar gold mine.
According to the agreement, the company is the primary contractor for industrial operations such as blasting, mining, waste removal, and transportation of ore. Capital investments of 81.4 billion drams will be used to purchase equipment.
The investment program plans to increase the number of jobs to 475 by 2027, up from the current 250. The customs duty exemption benefit is estimated at 3.7 billion drams.
The Amulsar gold deposit is the second-largest pure gold deposit in Armenia. It is located in the southeast of the country, 13 km from the resort town of Jermuk, between the Arpa and Vorotan rivers. As of October 2025, the mine's confirmed reserves amount to 73 tons of gold and 294 tons of silver.
Lydian Armenia (founded in 2005, it is a 100% subsidiary of Lydian Canada Ventures) is owned by the American Orion Mine Finance and the Canadian Osisko Gold Royalties).
In December 2024, Lydian Armenia donated 12.5% of its shares to the Armenian government.-0-
