"Lydian Armenia" CJSC
Lydian International Limited (a 100% owner of Lydian Armenia) has announced that the International Cyanide Management Institute ("ICMI") has accepted the application of the Company to become a signatory to the International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold (the "Cyanide Code") for the Company's 100%-owned Amulsar Gold Project in Armenia. The announcement is available at http://www.cyanidecode.org/media-room/press-releases/2016/lydian-international-limited-becomes-signatory-international-cyanide.
The Cyanide Code is a voluntary industry program for responsible companies involved in the production of gold using cyanide and companies manufacturing and transporting this cyanide. By becoming a signatory, Lydian has committed to following the Cyanide Code's Principles, implementing its Standards of Practice, and to have verification audits of its operation conducted by independent third-party auditors within one year of its first receipt of cyanide, and every three years thereafter. Operations will be certified if found in compliance with the Cyanide Code.
Lydian previously committed to apply for Cyanide Code certification following a decision of the Company's board of directors in 2015. The Company has since prepared a comprehensive Cyanide Management Plan and Flowsheet for cyanide usage and plans to undergo a Cyanide Code pre-operational audit in summer 2017 before the start of production. The Company is committed to comply with the code and expects to obtain full Cyanide Code certification when it starts production.
"We are committed to building the Amulsar Gold Project in line with industry best practices and becoming a signatory to the Cyanide Code is a significant step towards that goal. Modern, responsible mining is controlled by a number of efficient frameworks to ensure safe operations, environmental and social integrity and successful management of operations. The Cyanide Code represents one of these important frameworks and joining the Cyanide Code will ensure strict control over our operations and once again reinforce our commitment to build an exemplary gold project at Amulsar," said Howard Stevenson, President and CEO of Lydian.
About the Cyanide Code
The Cyanide Code was developed under the aegis of the United Nations Environment Programme by a multi-stakeholder Steering Committee. The Cyanide Code is intended to complement an operation's existing obligation to comply with the applicable laws and regulations of the political jurisdiction in which the operation is located. ICMI has been established to administer the Cyanide Code, promote its adoption, evaluate its implementation, and manage the certification process. A detailed list of the operations covered by signatory companies' applications, along with the full text of the Cyanide Code and its implementing and administrative documents, are available at www.cyanidecode.org.
12:28 September 29, 2016