The Armenian government has freed Lydian Armenia, operating at Amulsar deposits, from paying customs duties on the import of equipment and raw materials.
According to the minister of economical development and investments Suren Karayan, the company has already invested some 44 billion drams ($90 million). 180 billion drams more will be invested. The cost of the new equipment is 2.5 billion drams.
The Amulsar development project valued at $370 million started in August 2016.
The exploitation of the development will last for 10 years and 4 months, with annual output at 200 thousand ounces of gold (10 million tons of ore).
Amulsar deposits are the second largest gold deposits in Armenia. (Ukrainian metal)