Lydian (Amulsar Gold Mine) - Extension (EBRD-48579)

Countries
  • Armenia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 20, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Lydian International Limited
The holder of the loan, grant, or other investment.
Sectors
  • Mining
  • Water and Sanitation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 8.05 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported The Bank plans to invest up to CAD 10.5 million to
Converted using 2016-07-20 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank May 19, 2016


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Project Description
This project finances Lydian International Limited to begin developing the Amulsar Gold Mine. The EBRD's investment will be earmarked for financing of the Environmental and Social Mitigation Measures, including financing a biodiversity offset programme, and the construction of a water treatment facility.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information
Howard Stevenson howard.stevenson@lydianinternational.co.uk +1 720 307 5080 www.lydianinternational.co.uk 7000 S. Yosemite Street, Suite 201 Centennial, CO 80112 USA ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD’s own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.