Lydian International Limited announced to have entered into definitive agreements related to a $325 million construction financing package for Lydian's 100%-owned Amulsar Gold Project in south-central Armenia to be provided by Orion Mine Finance and Resource Capital Funds (RCF), Your Mining News reports.

Howard Stevenson, Lydian's President and CEO, stated: "This financing is an important milestone in our commitment to all stakeholders to advance Amulsar to production. Orion and RCF are highly-respected mining finance investment funds, and over and above their financial commitments, each group brings added experience to our team."

"The Financing provides over 75% of the overall financing requirement, which is a strong achievement in the current financial market,” Stevenson added.

In response to Lydian’s announcement, the Prime Minister of the Republic of Armenia, Hovik Abrahamyan, commented: "The financing of the construction of the Amulsar Mine represents a significant step forward in the development of the mining industry in Armenia. The government of Armenia is pleased that significant investors in the mining industry recognize Armenia as a mining investment destination. We look forward to the socio-economic contributions to Armenia that the Amulsar Mine represents."