YEREVAN, Oct. 10 (Xinhua) -- Armenia on Saturday started operations at the Amulsar gold mine, a major mining project expected to generate about 130 million U.S. dollars annually in taxes, duties and royalties for the state budget, Armenpress news agency reported.
Armenian Prime Minister Nikol Pashinyan described the launch as an important step for Armenia's mining industry, investment climate and economy, noting that the government holds a 12.5-percent stake in the project.
The project, located in southern Armenia, could boost the country's gross domestic product by about 1.5 percent annually, Economy Minister Gevorg Papoyan said at the launch ceremony, adding that more than 750 million dollars has been invested in the project.
The Amulsar gold mine is expected to produce about 210,000 ounces of gold annually, the Prime Minister's Office said in a statement on Saturday. The mine has gold reserves of about 73 tonnes, Armenia's Economy Ministry said in October 2025.
