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Economy

Amulsar opens with the state at 12.5% and three towns promised $7 to 9 million a year

Nikol Pashinyan launched operations at the Amulsar gold mine on Saturday, saying the minerals “that turned into gold before our eyes today belong to the Republic of Armenia”, Armenpress reported. Lydian Armenia operates it with the state at 12.5%. Gnel Sanosyan, the government’s representative on the operator’s board, said Jermuk, Vayk and Sisian would receive $7 to 9 million a year and Jermuk National Park $5 million.

By CAW Staff12 October 2026
A terraced open-pit mine bench in a mountain valley at dawn, with one amber lamp on a distant post.

Pashinyan said dozens of consultations with his participation had gone into examining the project’s reports, by Armenpress’s account of his remarks at the site. Behind the figures there should be people with jobs, he said, with modern equipment imported and posts requiring specialised qualifications created.

He called the state’s 12.5% a form of public participation. “I hope and am confident that in the near future such steps will become routine,” he said.

Behind the figures there should be people with jobs, he said, with modern equipment imported and posts requiring specialised qualifications created.

Armenpress’s two reports of 10 October give no investment, output, tax or royalty figures and do not date the years the project stood idle.

The $5 million is for the park’s establishment, Sanosyan said. The park does not yet exist.

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