Lydian International Ltd. has received approval of the Mining Right for the Amulsar gold project. This represents the final stage of the mining permitting process and grants the company the right to develop the Amulsar project in line with the parameters detailed in the feasibility study. Although Lydian has received various permits in the past, this is the first time that the company will have a Mining Right and EIA aligned with the underlying assumptions of its feasibility study and pending ESIA.
The Mining Right was granted to Geoteam CJSC, Lydian's subsidiary, by the Ministry of Energy and Natural Resources of Armenia. The approval covers all project infrastructure, including the location for crushers, the conveyor and heap leach facility; a mining permit applicable to all three pits; definition of the area within which operating activities may take place; and a mining agreement that outlines the nature and duration of New comminution plant equipment at the CSH mine mining operations.