Mining News

Lydian files BIT notice in relation to Armenian mining project that has been blocked

A junior mining company, Lydian International, announced that a pair of its subsidiaries have put the Republic of Armenia on notice of a dispute under that country’s bilateral investment treaties with Canada and the United Kingdom.

Lydian’s 100%-owned Amulsar Gold Project, in south-central Armenia, has been besieged by protests since mid-2018, with access blockades preventing further construction and development at the project site.

Supported by

Lydian holds two Mineral Exploration Licences and a mining licence for the Artavasdes and Tigranes open pit at Amulsar, through its 100% owned Armenian subsidiary Lydian Armenia CJSC.

According to a recent profile of the protests by Al Jazeera, project opponents have expressed concerns about mining impact on agricultural lands, nearby lakes and a famous mineral springs.

Readers may recall that Armenia underwent a revolution in 2018, leading to the ousting of an administration that had been in power for a decade. The Lydian project was approved by the prior administration, and the current administration must now decide whether to throw in its lot with the project or the protestors.

Readers may further recall that a series of recent BIT awards have dealt with mining projects that were dogged by local protests.


Source: iareporter


Related posts

Serbia’s lithium ambitions: Reviving controversial mining plans amid EU membership prospects

David Lazarevic

Indonesia at the crossroads: Balancing economic growth, mineral wealth and sustainable development

David Lazarevic

Challenges and struggles in the DRC’s cobalt mining industry: Price drops, artisanal miners and sustainability

David Lazarevic
error: Content is protected !!