Lydian International has got an Environmental Impact Assessment (EIA) approval for a location to construct a waste dump facility and for open-pit mining at the Amulsar gold property located in the south of Armenia on the border between the provinces (Marz) of Vayots Dzor and Sunnik.

Lydian, as per the terms of the EIA approval, must submit an EIA to the Ministry of Nature Protection for the planned mine-closure activities and regularly monitor the water quality which forms a part of the Lake Sevan catchment area

The company must also monitor the radiation levels during the mining operations; and in case of any presence of identification of any red-book species of flora and fauna in the area, Lydian must be guided in accordance with the Article 26 of the Armenian Code on Mineral Resources.

Lydian must follow the Law on Lake Sevan on issues related to the location of the gold plant and must retain an independent and international consultant recommended by the Ministry of Nature Protection for reviews.

Lydian president and CEO Tim Coughlin said the approval is a positive step in the process of mine permitting.

"The increase in resource potential at Amulsar, the ESIA process and FS level design has significantly raised the profile of the project," Coughlin added.

The company will hold public consultation events with all the important stakeholders of the project for ESIA disclosure in the surrounding communities and in Yerevan.