Amulsar operation vital Importance for Armenia: Statement by the Armenian Mining and Metallurgy Association

The Armenian Mining and Metallurgy Association welcomes the state guarantee provided for the financing of the Amulsar project, expressing expectations for the swift completion of the mine’s construction and its uninterrupted operation. The suspension of the project’s construction in 2018 caused significant damage to the economy and to Armenia’s investment reputation.

The relaunch of the project and the state guarantee provided for it send an important signal to investors, not only in the mining sector. The successful implementation of the Amulsar project is of vital importance to Armenia’s economy, as it will demonstrate the country’s commitment to ensuring a safe and fair environment for investments and, amid historically high gold prices, will have a significant impact on economic growth.

It is evident that the uninterrupted implementation of the Amulsar project has no alternative from a legal, socio-economic, or overall national interest perspective. We are confident that broad segments of society in Armenia have a deep understanding of both the need for the project’s smooth implementation and the development of the sector, which will make it possible to ensure the successful progress of this and other investment projects for the benefit of the Republic of Armenia.