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Lydian International signs key equipment supply contracts for Armenian gold project

Thursday, February 23, 2017 9:15
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Lydian International Inc’s (OTCMKTS:LYDIF) (TSE:LYD) Armenian business has signed five key equipment supply contracts for its Amulsar Gold Project ahead of the 2017 construction season.

The mining company said the contracts will provide the equipment needed to support its mining fleet, materials handling system, gold-recovery plant, electrical systems, and worker accommodation.

Lydian expects mining production will reach 25mln tonnes of material during the first year of operation. 

Zeppelin will supply its Cat mobile mining equipment including haul trucks, shovels, tractor, loaders and dozers with initial deliveries starting in the third quarter.

Sandvik will provide the materials handling system for the project, including the crushing and screening plant, the overland conveyor, storage reclaim and truck loadout feeding system.

AZMET Technology & Projects has been contracted for its adsorption, desorption and recovery plant, which can treat up to 1,100 cubic metres per hour of pregnant solution through a five-sage absorption circuit.

ABB AB, Substations and ABB Switzerland Ltd will supply equipment and materials for complete plant electrification while Renco Spa and Renco Armestate will construct a 690-bed residence camp for workers.

“Execution of these key contracts is a major achievement in the development of Amulsar,” said Howard Stevenson, chief executive and president of Lydian.

“We are very pleased to have partnered with Zeppelin, Sandvik, AZMET, ABB, and Renco. Each is a leading equipment supplier in the mining sector and have committed to supporting our development plan for Amulsar.”

The Amulsar Gold Project will be Armenia’s largest gold mine with estimated mineral resources containing three million measured and indicated ounces and two million inferred ounces.

Lydia is targeting average gold production of more than 200,000 ounces per share over an initial 10-year mine life. 

Story by ProactiveInvestors


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