The situation surrounding the operation program of the Amulsar mine had a negative impact on the investment image of Armenia. Hayk Aloyan, executive director of Lydian Armenia, stated this during a forum on the development of the Zangezur Copper-Molybdenum Combine (ZMCC) on December 19.
He recalled that Lydian was the first company from Armenia whose shares were listed on the Toronto Stock Exchange.
“The loss of companies and individuals of their shares had a negative impact on all sectors of the Armenian economy, and not just the mining industry. The security issues that have arisen over the past five years have had the same impact,” he said.
Aloyan said that the Lydian Armenia company has made serious efforts, and this has led to the fact that since 2023, with the support of partners and the Government, it was possible to begin engineering work on the territory of Amulsar.
“This stage has been completed, and construction work will begin in 2024,” emphasized the executive director of Lydian Armenia.
He believes that Armenia’s investment reputation can be restored if the operation of the Amulsar mine is started.