Lydian International held a groundbreaking ceremony at its Amulsar gold project in Armenia, on August 19, as it moves into the construction phase.
Located in the south-central region of the country, Amulsar is expected to be the largest gold mine in Armenia, producing an average of 243,000 oz/y of gold over the initial five years of operations. Initial 10-year life-of-mine total cash cost has been estimated by the company at $509/oz.
As construction progresses and operations begin, Lydian said it will also be evaluating future additional potential from currently defined inferred mineral resources and, ultimately, from open extensions at depth.
Production is expected to begin in 2018 using conventional open-pit mining and heap-leach processing.