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  • Lydian International Gets Green Light From Local Community For Amulsar Processing Facility 0 comments
    Jul 16, 2013 2:15 PM | about stocks: LYDIF

    Lydian International's (TSE:LYD) flagship Amulsar gold project took a further step forward - as the design for its heap leach facility was given the thumbs up by the local community.

    It also revealed it has submitted its application to the relevant government authority to get its environmental impact assessment (NYSEMKT:EIA) approved.

    The green light from the local authority followed a hearing attended by the governor of the Vayots Dzor region, the head of the Gndevaz community and residents of the local community and greater region.

    Lydian, along with its independent environmental consultants, presented a detailed proposal for the project, including the site earmarked for the crushing, conveying and heap leach facilities.

    In general, local concerns centred on livelihoods, ensuring continued access to grazing land, hay-fields and to a dam which contains water for livestock and irrigation.

    Lydian explained it plans to submit proposals for a combination of fair compensation for acquiring land, adequate livelihood restoration if economic displacement is involved and provision of an alternative and clean-water source.

    At the end of the hearing, the Gndevaz community approved the concept and environmental impact assessment of the proposed heap leach and processing facility.

    The company is now proceeding to the final detailed environmental impact assessment (EIA) approval stage for the processing facility and has submitted its application to the Ministry of Nature Protection.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: LYDIF
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