On February 6, RA Economy Minister Gevorg Papoyan spoke with journalists about the financing of the Amulsar gold mining project.
Back in November 2024, Gevorg Papoyan stated that $250 million was needed to launch the developing Amulsar mine, out of which $100 million was already available. The remaining $150 million was expected to be secured through loans from Armenian banks, with some degree of state support anticipated.
"The process is currently in a very active phase. Naturally, the private sector is negotiating. Everything is progressing towards securing the necessary financing. We plan to begin extraction in October," said Gevorg Papoyan.
In response to a question about why the financing process is being delayed, the minister stated:
"How can a $150 million loan be obtained quickly and easily? Naturally, it is a complex process."
February 07, 2025 at 14:27