Armenia’s Government freed the goods from the Value Added Tax (VAT) imported by Lydian Armenia CJSC for three years.
Suren Karayan, Minister of Economic Development and Investments, said the Lydian Armenia CJSC has carried out geologicalexploratory works in Syunik and Vanadzor provinces as a result of which they found gold quartzite deposits.
“The company’s aim is to build and operate Amulsar gold-bearing quartzite deposit within the framework of the investment program. During the operation there will be approximately 2 million ounces of gold and 3 million ounces of silver that will be exported.
Nearly 179.4 billion AMD investments are expected, from which 26.7 billion AMD will be spent for equipment,” the Minister said. As a result of the investment program, over 465 jobs will be created with 525.000 average salary.