The situation created around the plans for the operation of the Amulsar gold mine project has negatively affected the investment image of Armenia. Hayk Aloyan, CEO of Lydian Armenia company, announced this at Tuesday’s forum on the development of the Zangezur Copper Molybdenum Combine of Armenia

He recalled that Lydian was the first company from Armenia whose shares were listed on the Toronto Stock Exchange.

"The loss of shares of companies and individuals has negatively affected all sectors of Armenia’s economy, not just mining. The security issues that have arisen over the past five years have had the same effect," he added.

Aloyan said that Lydian Armenia made serious efforts, and this led to the fact that since this year, it became possible to start engineering work in the area of Amulsar, and with the assistance by partners and the Armenian government.

"This phase is over, and the construction work will start in 2024," stressed the Lydian Armenia CEO.

Hayk Aloyan believes that Armenia's investment standing can be restored if the Amulsar gold mine begins operations.