Economic Impact

In March 2015, a social-economic contribution report for the Amulsar Gold Project report was prepared for Lydian International.  For a complete copy of the 4-page report, click here.

Based on this study, the Amulsar Project is going to have tangible impacts both directly and through indirect and induced eocnomic activity.  More than US$426 million of capital investment is planned to be spent on the project during the first two years of its life.  Over the life of the mine, it is expected to contribute approximately US$488 million to the state budget through taxes and royalties.

Total contribution to GDP will average, annually, US$185 million, or 1.4% of GDP.

This project is going to create highly paid jobs with approximately 95% of employees being Armenian nationals and will involve around 1,300 works for construction during the first two years of the project.  During its eleven years of production, it will provide approximately 770 jobs at the mine, processing facilities, laboratory and in administration.