Breaches of contractual obligations totaling $1.2 million by 127 companies found in Armenia’s mining industry

MINEX Forum | November 29, 2018
img0 Breaches of contractual obligations totaling AMD 573 million ($1.2 million) by 127 companies have been found as part of the comprehensive analysis in Armenia’s mining industry, Garegin Baghramyan, the acting energy infrastructures and natural resources minister, said Wednesday at a news conference. In his words, AMD 134 million (around $275,700) of the mentioned amount is ...

Lydian Announces Access to the Amulsar Site for Winterization Purposes

MINEX Forum | November 29, 2018
img0 Lydian International Limited (TSX: LYD) (“Lydian” or “the Company”) is pleased to announce it has secured short-term access to its 100%-owned Amulsar Gold Project to undertake winterization and preservation work on process and mobile equipment. This work is being performed to reduce damage to equipment and help ensure an efficient restart of construction, mining, and ...

Chaarat Gold buys Armenian mine from Russia’s Polymetal for $55m

David McHutchon | November 1, 2018
img0 Chaarat Gold Holdings (LON:CGH), the company that tried buying Centerra’s Kumtor mine in the Kyrgyz Republic, has agreed to acquire Kapan gold mine in Armenia from Polymetal, one of Russia’s largest gold and silver producers. The $55 million deal is part of Chaarat’s intention of becoming a major regional player in Central Asia, with an ...

Armenia launches criminal case against Lydian for breaching gold mining contract

MINEX Forum | September 10, 2018
img0 Armenian prosecutors have launched a criminal case against mining company Lydian Armenia on suspicion of illegal mining at the giant Amulsar gold mine. Lydian Armenia, which is 100%-owned by Armenia-focused Lydian International, is developing Amulsar, which has Armenia’s second largest gold deposits, with estimated mineral resources of 3.5mn measured and indicated gold ounces and 1.3mn ...

Lydian Announces Financing Update

MINEX Forum | August 17, 2018
img0 Lydian International Limited (TSX:LYD) (“Lydian” or the “Company”) is pleased to announce that its senior lenders have agreed to extend the initial repayment date and the availability period from previously announced August 15, 2018 to August 31, 2018. Lydian continues to have further discussions with key stakeholders in order to complete comprehensive revisions to several ...

Lydian Reports Recent Illegal Road Blockages Near Amulsar

MINEX Forum | June 29, 2018
img0 Lydian International Limited (TSX:LYD) (“Lydian” or the “Company”) announced intermittent road blockages near its 100%-owned Amulsar Gold Project that have impacted recent construction activities. Following the change in the government of Armenia last month, demonstrations and road blockades have occurred sporadically throughout the country. These protests primarily targeted the mining sector, including the Amulsar project. ...