Lydian Armenia is Under Pressure, Activists continue their Protest
11 June, 2018

Lydian Armenia company assesses the rumors that allegedly it plans to prepare a lawsuit against Armenia at London Court of International Arbitration demanding 2 billion USD from authorities as primitive misinformation, Vice President of the company Armen Stepanyan told ARMENPRESS.

"That information does not correspond to the reality. It's just very primitive misinformation that has nothing to do with the reality", he said.

According to the rumors "Lydian" wants to sue Armenia since the authorities are unable to ensure favorable conditions for operating, as a result of which the company suffers damage of millions of dollars.


Note that on 5th of June the company CEO Hayk Aloyan sent a media release as follows:

For the second day in a row, about twenty people have blocked the roads to the construction site of the Amulsar mine, depriving more than 1450 employees of their chance to work and undermining the country's largest investment project. Such a provocation is aimed not only our company, but also against the country, holding up several hundred thousand dollars of investment into the country daily. 

The Amulsar gold project is the best designed environmental project ever in Armenia. The project, by the way, is still not operational and is in the construction phase, nevertheless, the company has for several years been the target of a funded anti-public relations campaign designed to push the company, that has used the most modern environmental technologies, and has never been involved in corrupt practices, out of the market.

Lydian Armenia is ready for any inspection of environmental standards, social management, financial flows, the composition of shareholders, transparency in tax receipts, and any other criteria.

The Company is certain that any audit, based on objectivity and professional standards, will prove that the best international standards, unprecedented for Armenia.  Obstructing the company's illegal activities is a direct blow against the country's economy and reputation. The company expects a legal and immediate resolution of the matter.

Hayk Aloyan 
Executive Director of Lydian Armenia


In the same day, protester Vazgen Galstyan told at a press conference that their goal is to stop the operation of the gold mine of Amulsar, since it hampers development of tourism and is dangerous for nature.


Finally, the new cabinet and the Prime Minister Nikol Pashinyan will decide about the future of the conflict between Lydian Armenia company and Armenian protesters.

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