Memorandum of Understanding signed by Armenian Minister of Nature Protection Artsvik Minasyan (right) and a representative of Lydian Armenia CJSC (Photo: Armenia Ministry of Nature Protection)
Lydian Armenia, a subsidiary of Lydian International Limited developing the Amulsar gold deposit in Armenia, pledged to invest over $5 million in the next five years in the creation of Jermuk National Park.
The Memorandum of Understanding for establishment of Jermuk National Park was signed between the Armenian Minister of Nature Protection Artsvik Minasyan and Lydian Armenia CJSC.
This comprehensive project is aimed at both biodiversity conservation and ensuring Jermuk National Park sustainability through deployment of ecotourism and eco-agricultural programs.
The creation of the National Park (estimated to be approximately 25,000 hectares) will take great strides to ensure the preservation and protection of Armenian natural biodiversity.
The Jermuk National Park Project details, objectives and implementation mechanisms were presented by team leader of Jermuk National Park project Ramaz Gokhelashvili, a biodiversity management expert from the environmental consulting company Treweek Environmental Consultants (UK).
Lydian Armenia was founded in 2005. Among its institutional shareholders are the European Bank for Reconstruction and Development and the International Finance Corporation.
The Amulsar gold mine is the second largest deposit in terms of pure gold reserve in Armenia. It is located in the south-eastern area of the country, 13 km from the resort town of Jermuk, between the rivers Arpa and Vorotan. The deposit is said to contain about 31 million tons of ore and 40 tons of pure gold.