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Lydian threatens arbitration against Armenia over Amulsar gold project

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Lydian threatens arbitration against Armenia over Amulsar gold project

Lydian International Ltd. threatened to file an international arbitration case against the Armenian government over its Amulsar gold project.

In August 2018, regulators halted construction work at Amulsar pending further environmental assessment. The suspension was lifted in December 2018 after Lydian filed an appeal against the order, but anti-mining protesters have continued to block access to the project since June 2018, where the company dismissed workers in response to the blockade.

Lydian said March 11 that it has notified the Armenian government of the existence of a dispute, which the company can submit to the international arbitration court within three to six months.

While the dispute is not yet filed, Lydian said its decision whether to proceed with the arbitration proceedings will depend on the government's desire to continue amicable talks to settle the issue.