Monday, 16 July

Lydian International CEO in Yerevan; Promises to Mine Responsibly

What follows is an unedited press release appearing in the Armenian government’s website regarding a meeting between Armenian Prime Minister Karen Karapetyan and visiting corporate heads, including Lydian International CEO Howard Stevenson.

Lydian is pressing ahead with a controversial open-pit gold mining operation in Amulsar.

Prime Minister Karen Karapetyan received today a group of international investors, led by Lydian International President and CEO Howard Stevenson, who represent various companies.

Prime Minister Karapetyan appreciated the investment program implemented by Lydian International in Armenia and noted that the Government of the Republic of Armenia will stand by investors as a partner in all those initiatives aimed at ensuring economic development and growth in employment. At the same time, the Premier stressed the importance of the environmental and social commitments assumed by the Company.

Karen Karapetyan briefed the investors on the current status and the prospects of Armenia’s economy, adding that today’s economic trends can be a good basis for ensuring a sustainable and lasting growth. At the same time, the Prime Minister urged the investors to consider Armenia as a good platform for entering the Eurasian and Iranian markets, given the favorable trade regimes available in our country.

Howard Stevenson said they have always tried to represent Lydian International as a good example and vivid evidence that Armenia can be a propitious business platform for international investors. He assured that all the commitments, social and environmental programs assumed by the Company would be implemented in accordance with the established timetable and added that both communities and the State should benefit from the program they have initiated.

During the meeting, Prime Minister Karapetyan answered the questions of interest to the investors that were mainly related to the Government’s reforms and the improvement of Armenia’s business environment.

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