Lydian Amulsar Project Contracts: Engineering Armenia’s Gold Mine

Discovery Alert

June 23, 2026

BYMUFLIH HIDAYAT

Inside the Lydian Amulsar Project Contracts: Engineering a Gold Mine in the Caucasus

Greenfield gold mining in emerging markets rarely follows a straight line. Between geological complexity, community dynamics, financing structures, and the sheer logistical challenge of building industrial infrastructure in remote terrain, the gap between a definitive feasibility study and a producing mine is littered with failed procurement strategies and capital missteps. The Lydian Amulsar project contracts represent one of the most technically ambitious and financially layered attempts to bridge that gap in the modern history of the South Caucasus — and the story of how those contracts were structured, who won them, and what ultimately challenged their execution offers a masterclass in both mining development best practice and its inherent vulnerabilities.

Understanding the Amulsar Deposit’s Physical and Strategic Context

Situated approximately 10 kilometres from the spa resort town of Jermuk and roughly 170 kilometres southeast of Yerevan, the Amulsar gold deposit occupies a geographically and politically loaded position in Armenia’s landscape. It is widely regarded as the largest greenfield gold mining project in the country’s modern history, a distinction that amplified both its commercial appeal and the scrutiny it attracted from communities, environmental groups, and multilateral institutions alike.

The project’s operating entity, Lydian Armenia CJSC, sits beneath an ownership structure that evolved significantly over the project’s turbulent development history. As of January 2024, the Armenian government formalised a 12.5% equity stake in the project, with the remaining 87.5% held by United Gold. Toronto-based Lydian International served as the original parent company that drove the project through its early-stage development and, critically, through the contract award phase that unfolded in early 2017.

Understanding who holds equity in a mining project matters enormously when assessing long-term execution risk. Government co-ownership introduces a layer of political alignment that can accelerate the securing of mining permits and reduce sovereign risk, but it also introduces governance complexity that purely private structures avoid. At Amulsar, this tension between alignment and complexity has been a recurring theme throughout the project’s lifecycle.

The Major Lydian Amulsar Project Contracts: A Technical Breakdown

When Lydian International awarded the primary Amulsar contracts in early 2017, the procurement framework touched every critical operational system from earth movement to gold recovery. The selection of Tier-1 global suppliers was a deliberate bankability signal, communicating to project financiers that the development would be built to international standards.

Contract Category Awarded To Scope
Mobile Mining Fleet Zeppelin International (Caterpillar) Haul trucks, shovels, loaders, dozers, support equipment
Materials Handling and Crushing Sandvik Mining and Construction Crushing plant, screening, 5.6 km overland conveyor
Electrical Systems and Automation ABB Automation Substations, distribution grid, motors, process control, E-houses
Gold Recovery Plant Azmet Technology and Projects ADR plant design and supply
Worker Accommodations Renco and Renco Armestate 680-bed camp facility
Contract Mining Services MOTA-ENGIL Mining Caucasus LLC Comprehensive industrial engineering (USD 700M, 72 months)

Each of these awards reflected specific technical requirements shaped by the project’s heap-leach processing model and its challenging mountainous terrain. The logic behind each selection deserves closer examination.

The Caterpillar Fleet: Scaling a 35 Million Tonne Per Year Open-Pit Operation

Zeppelin International, acting as the authorised Caterpillar dealer for the region, secured the contract for the complete mobile mining fleet at Amulsar. The equipment package encompasses the full spectrum of open-pit mining machinery: haul trucks, hydraulic shovels, wheel loaders, bulldozers, and ancillary support vehicles.

The production targets built into this contract are substantial:

  • Year one mining throughput: 25 million total tonnes
  • Steady-state average capacity: 35 million tonnes per year following phased fleet additions
  • Equipment delivery schedule: Commencing Q3 2017

The phased approach to fleet commissioning is worth noting from an investment analysis perspective. Rather than deploying the full 35 Mtpa equipment complement from day one, the project was structured to add incremental fleet capacity as production ramped up. This approach reduces upfront capital exposure significantly, as each haul truck in a large open-pit fleet can represent an individual capital commitment of USD 3 to 5 million depending on payload class.

Phased fleet deployment in open-pit mining is a well-established capital efficiency strategy. Tying additional equipment tranches to measurable production milestones rather than upfront procurement orders means capital follows operational performance rather than preceding it.

Sandvik’s Materials Handling System: The 5.6 Kilometre Conveyor Solution

Sandvik Mining and Construction’s contract at Amulsar covers one of the project’s most technically distinctive infrastructure elements. The materials handling scope includes a complete crushing and screening plant alongside a 5.6-kilometre overland conveyor that connects the crushing facility directly to the heap-leach pad.

The crushing circuit architecture follows a conventional two-stage approach:

  1. A vibrating feeder delivers run-of-mine ore to a primary jaw crusher for initial size reduction.
  2. Three secondary cone crushers provide further comminution before the screening plant classifies the product by particle size.
  3. The sized ore is then transported via the overland belt system to the leach pad, supplemented by a storage reclaim system and truck loadout feed configuration.

The practical significance of the overland conveyor is often underappreciated in project summaries. Eliminating truck haulage between the crusher and the leach pad reduces diesel consumption, lowers tyre costs, and cuts CO2 emissions across the mine’s operational life. For a project in a politically sensitive environment where environmental performance was already under scrutiny, this design choice carried both economic and reputational logic.

Furthermore, at 5.6 kilometres, the Amulsar conveyor sits at the longer end of the range for comparable heap-leach gold operations globally, where 2 to 4 kilometre systems are more typical. This length reflects the topographic separation between the processing area and the designated leach pad footprint.

ABB’s Electrical Infrastructure: Why Premanufactured E-Houses Matter

ABB Automation’s scope at Amulsar goes well beyond simple power supply. The contract covers the full electrical nervous system of the processing facility, including:

  • High- and medium-voltage substation design and supply
  • Complete distribution grid engineering across the plant footprint
  • Automation and process control systems using SCADA and distributed control system (DCS) architecture
  • Motors and variable frequency drives (VFDs) for process equipment
  • Premanufactured electrical rooms, commonly referred to as E-houses

The deployment of premanufactured E-houses is a detail that often receives insufficient attention in project announcements but carries real execution value. E-houses are factory-assembled and pre-tested electrical enclosures that arrive on-site ready for connection. In a remote, mountainous location like Amulsar, where skilled electrical construction labour is scarce and Armenian winter conditions create substantial on-site construction risk, the ability to install a pre-tested electrical assembly rather than construct it in the field can translate into months of schedule compression and meaningful cost savings.

This procurement philosophy, favouring modular and premanufactured systems, has become increasingly standard in remote mining projects globally. Consequently, Amulsar’s adoption of it in 2017 positioned the project at the more sophisticated end of the emerging market development spectrum.

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Armenia Tightens Gambling Controls, Will Ban Certain Citizens from Online Casi

Casino Beats

June 23, 2026

rmenia will tighten its gambling regulations for online users, with new bans on “at-risk” individuals and stricter betting limits.

The National Assembly of Armenia, the country’s parliament, voted in favor of the regulations during a second and final reading of a new law that will come into force on January 1 next year.

The development comes shortly after lawmakers approved the launch of a new regulatory framework for gaming operators.

Lawmakers said they hope the new measures will protect citizens from gambling addiction, reported Armenia’s Arka News Agency.

Officials said the size of the online gambling market has increased 35x in the space of just eight years.

A lawmaker said the government believes that between 2017 and 2025, Armenians spent around $20 billion on online betting platforms.

Tax revenues from the sector do not reflect the industry’s size and scale, the government said.

The online gambling industry accounts for just 1% of the total government budget revenues.

New Armenia Gambling Rules: Welfare Recipients Face Ban

The new law will require operators and government agencies to block access to online casinos for all citizens receiving government subsidies.

These include people who receive mortgage payments and education fee support, as well as agricultural loan recipients.

Pensioners who receive no income other than their pensions face similar barriers.

The blocks will also extend to people involved in bankruptcy-related legal proceedings, and individuals with “high debt burdens.”

The law will see all individuals with loan payments exceeding 40% of their annual incomes placed into the latter category.

Residents not included on the list will also need to navigate new regulations as of next year: Individuals’ spending on online bets must not exceed 20% of their annual income.

Armenia’s New Betting Kill Switch

Operators will also face a range of new rules.

All online gambling platforms operating in Armenia, including both domestic and overseas operators, must add and “prominently display” auto-blocking, kill-switch-type buttons in their interfaces.

This “button” will allow users who recognize they have a gambling addiction to “block their account with a single click.”

The kill switch will not only block the user from accessing the platform in question but also cut off their access to all other permit-holding platforms.

The law stipulates that any foreign platforms that fail to comply with the new law will be subject to blanket blocking orders.

“After pressing this button, users will not be able to gamble on online casinos for five years, without the possibility of early reinstatement,” said lawmaker Hayk Sargsyan, one of the bill’s chief architects.

“When the five-year period ends, the block will automatically extend for another five years unless the individual applies to lift the restriction five days before it expires.”

Armenia legalized and started regulating land-based casinos in 2004. In 2013, the government restricted casino operators to four official gambling zones.

Last year, the government launched a blanket 10% turnover tax on online and land-based casino operators. The tax also applies to lotteries and sports betting platforms.

In nearby Russia, lawmakers last week approved a measure to fast-track blocking orders on online casino websites.

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Armenian and Turkish transport ministers hold meeting

Aysor, Armenia

June 23, 2026

The Armenian and Turkish transport ministers held a meeting, Turkish Minister of Transport and Infrastructure Abdulkadir Uraloğlu reported on the social media platform X.

According to Uraloğlu, he and Armenian Minister of Territorial Administration and Infrastructure Davit Khudatyan discussed efforts aimed at restoring transport links between the two countries, including the rehabilitation of railways and roads that were previously in active use.

The ministers also discussed the restoration of the Ani Bridge.

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Armenian Journalist: Spirit of Resistance Iran Most Important Strengths during

Islam Times

June 23, 2026
Islam Times – The high spirit of resistance of the Iranian people is considered as the most important strengths during the US and Israeli war of aggression imposed against Iran on February 28.The US and Israeli war of aggression against Iran had vast media coverage in various countries of the region, especially the Republic of Armenia.

To learn more about the details, our correspondent conducted an interview with Tsovinar Barkhudaryan a prominent Armenian journalist in Armenia’s TV “Channel 5” and a broadcaster from Artsakh.

She shed light on the views of Armenian public opinion and media outlets on the war of aggression imposed by the United States and Israel against Iran, its consequences, and the future of the negotiation process.

Let’s review the interview in questions and answers:

Q: How was Iran-US war viewed in Armenia? What were the consequences of the war that people of this country was most concerned about?

A: In response to this question, I should say that Armenian people were very concerned about Iran during the war and were extremely worried about what was happening to the Iranian people.

Now that the path to negotiations and cessation of conflicts has been paved, Armenian people feel satisfied and happy with this situation and hope that America will not enter into a wider war against the Islamic Republic of Iran.

The people of Armenia feel secure and boast in having a powerful neighbor like Iran, and for that, they follow developments of war in Iran with sensitivity.

Q: Was there concerned about the spread of war to the Caucasus region?

A: Regarding the spread of war to the Caucasus region, I should say that there were serious concerns that the scope of the conflict would extend to the South Caucasus. The economic consequences of the war were not limited to Iran, but were also felt by countries in the region. In addition to the economic issues, there were also concerns about the security and military consequences of spread of war.

Q: How did Armenian media outlets cover the war?

A: From the first days of the war, Armenia’s Channel 5 continuously covered news related to Iran and the war, and there was almost no day when this topic was not raised in our news segments and analytical programs. News of this war was covered under the title “The War Imposed by the US and Israel Against Iran,” and numerous expert programs were held to examine its various aspects.

Regarding some of the problems faced by Armenia’s media outlets in accessing Iranian news, I should say that one of the important issues during the war was the difficulty of accessing direct narratives from inside Iran, especially during times when there were internet restrictions, it became difficult for foreign media to quickly receive official Iranian news and narratives.

If more cooperation is formed between Iranian and Armenian media and the possibility of receiving first-hand news is provided, the quality of media coverage will also increase.

Lashing out at the dominance of the Western media narrative over the global public opinion, I should say that, today, we live in the Age of media and the Internet, but unfortunately the true image of Iran is not conveyed to the regional and global public opinion as it should be.

Many people in different countries are influenced by the narrative of Western media, and for that, Iranian media needs to work harder than ever to convey their direct and true narrative to global audiences.

Q: How was the US attack on Iran evaluated in the public opinion of the Republic of Armenia?

A: The Armenian people do not have a positive view of war and military aggression due to their historical experiences.

We have also had the experience of war and the imposition of conflict, and for that, it is natural that we cannot have a positive view of military action against another country.

Q: Does the signing of a 14-point memorandum of understanding (MoU) with the United States mark the end of crisis or merely a temporary halt to the war?

A: I am not a political analyst, but my media experience shows that mere written agreements do not necessarily guarantee the implementation of commitments.

What caught my attention most during my trip to Iran was the spirit of resistance of the Iranian people. I heard many times from Iranians that they are willing to pay any price for their country, and this spirit of resistance is Iran’s most important strength.

During my visit to Iran, I also toured southern Iran and the Strait of Hormuz region and observed that Iran has ample capacities and capabilities. For that, I believe that Iran is a country that has considerable potential and capabilities.

Any concluding remarks.

This trip was a valuable opportunity to see Iran in-person and see the realities of this country with my own eyes.

I return to Armenia with very positive feelings and I can honestly say that I have fallen in love with Iran.

I hope that people of Iran will never again experience the pain and suffering of war and that lasting peace and tranquility will prevail in this country forever.


https://www.islamtimes.com/en/interview/1287718/armenian-journalist-spirit-of-resistance-iran-most-important-strengths-during-war

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Israel must free itself of dependence on US arms, says Netanyahu

Politics17:23, 23 June 2026
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Prime Minister Benjamin Netanyahu said Israel needs to be “free” from military dependence on the United States and develop its own weapons-production capabilities, adding that this is needed to support the ongoing fight with “Iran and its proxies”, The Times of Israel reported.

Speaking during a meeting with reserve combat officers, Netanyahu said: “I greatly appreciate the support we have received — and that I have secured over the years — from our American friends. But today I say: We need our own independent weapons-production system. We must manufacture our own armaments.

“We are now confronting Iran and its proxies. We have struck them hard. It is not over yet, but it depends on our strength. Where we will be in 30 years depends on our strength. That is why what we are doing now is building even greater strength,” the premier said, adding that he wants Israel “to have an independent armaments capability.”

Netanyahu has vowed for months to end US military aid to Israel over the next decade, but today’s remarks come at a particularly tense moment, amid increasing concern in Jerusalem over the US placing limitations on its freedom of action as Washington continues to advance an agreement with Tehran that Israel largely opposes, according to The Times of Israel.

“We need to free ourselves from dependence, continue building more and more strength, incorporate more and more technology, and train more and more generations of commanders like you — because ultimately that is what will determine our position,” Netanyahu added.

US Vice President JD Vance remarked in a press conference last week that in recent months, “two-thirds of the defensive weapons that have protected [Israel]” were US-made and funded by American tax dollars.

US and Israeli officials say that recently begun talks on a new 10-year US-Israel security cooperation framework seek to “gradually transition” the framework “from aid to a completely reciprocal partnership.”

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Major international political and cultural events held in Armenia expected to

Economy09:40, 23 June 2026
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According to Mekhak Apresyan, President of the Armenian Tourism Federation, the high-profile international events hosted in Armenia this year, as well as visits by globally renowned figures, are expected to have a positive impact on the country’s tourism indicators in the coming years. Speaking to Armenpress, Apresyan described the number of tourists visiting Armenia in the first quarter of the year as a significant increase.

 According to official data, 453,138 tourists visited the country during the period, marking an 18.2% rise compared with the same period last year. “One of the distinctive features of this year, the effects of which will become more evident later, is the growing global attention focused on Armenia due to a number of internationally significant events held here. Among the most notable are the European Political Community summit, the Armenia-European Union summit, the visit of Emmanuel Macron, as well as visits by internationally known figures such as Mike Tyson, Lara Fabian’s concert, COP17 scheduled for October, and even the electoral process in Armenia and the international interest surrounding it. All of this means that Armenia is becoming more recognizable year after year. We are pursuing an active marketing policy, and tourists consistently leave Armenia with experiences that exceed their expectations, sharing their positive impressions with friends, relatives and acquaintances,” the expert said.

 According to Apresyan, the current year’s results are the outcome of efforts made in previous years, reflected in Armenia’s well-established festivals, which have already gained international recognition, as well as in concerts and sporting events that have attracted global attention. Apresyan believes these developments are also helping to address a challenge that has negatively affected organized tourism. In particular, many countries considered target markets for Armenia—including those in Europe, the United States and Japan—still portray Armenia on their foreign ministry websites with red-marked advisories, presenting the country as not entirely safe, especially the provinces of Syunik, Vayots Dzor, Tavush and Gegharkunik. “Although Armenia is consistently ranked among the top ten safest and most attractive destinations by many reputable publications, such advisories still exist. Thanks to international events of this scale and our successful festivals, which receive extensive coverage, the world can see that thousands and tens of thousands of tourists from various countries, as well as Europe’s top political leaders, travel safely throughout Armenia,” said the head of the Armenian Tourism Federation.

 He added that achievements in the tourism sector are also the result of the work carried out by both state institutions and the private sector, whether jointly or independently. Apresyan stressed the importance of measures aimed at strengthening organized tourism and improving the competitiveness of tourism services as part of the sector’s sustainable long-term development, including efforts to curb unjustified price increases.

“It is organized tourism that has suffered most from the coronavirus pandemic and the wartime situation, and it has not yet fully recovered. We must do everything possible to restore it through legislative mechanisms and various economic incentives. Recovery is taking place gradually, but if we look at the research findings, we see that organized tourism accounts for only about 5% of total visits. Our goal is to increase that figure to at least 30%,” Apresyan said.

According to him, organized tourism is more sustainable, as tours are carried out according to planned itineraries and include all regions of Armenia, including border communities. By contrast, individual tourist visits and leisure activities are largely concentrated in Yerevan. 

“We have put forward a proposal that would address several important issues. It would help mitigate unjustified price increases, strengthen our regional competitiveness and cooperation, and contribute to cultural and information security. The proposal concerns the application of a zero rate of value-added tax on inbound tourism packages, a measure that Georgia has been implementing since 2011,” the expert said.

He expressed confidence that, if adopted, the proposed legislation would stimulate the development of organized tourism while helping to address issues related to balanced decentralization, regional economic development, cultural and information security. It would also strengthen Armenia-Georgia cooperation in the sector and enhance the global competitiveness of regional tourism packages. Apresyan emphasized that institutional reforms are currently being implemented in Armenia’s tourism sector, and that the proposal submitted by the federation forms an integral part of those reforms.

According to the Tourism Committee of Armenia’s Ministry of Economy, inbound tourism recorded a historic result in January-May 2026. A total of 825,384 tourists visited Armenia during the period, representing a 19.3% increase compared with tourism arrivals recorded in the same period of 2025.

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Diversifying trade beyond traditional markets: expert highlights opportunities

Economy09:54, 23 June 2026
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Restrictions on the presence of Armenian products in the Russian market have prompted Armenia to intensify efforts aimed at diversifying its trade and economic ties. For now, these efforts are reflected in modest steps toward Europe and are accompanied in the public sphere by discussions contrasting the markets of the European Union and the Eurasian Economic Union (EAEU), as well as debates over prioritizing one over the other. Amid this debate, however, the importance and necessity of expanding into accessible southern and eastern markets appears to be overlooked, despite the fact that such prospects could become increasingly realistic against the backdrop of a potential normalization of relations between Iran and the United States. In an effort to broaden the geographical scope of discussions on this pressing issue, Armenpress spoke with Tatevik Vardanyan, expert at the Amberd Research Center of the Armenian State University of Economics and Candidate of Economic Sciences.

– Should the diversification of Armenia’s trade and economic ties be limited to the EAEU and the EU, or should the country simultaneously deepen relations with major markets such as China and India, a process that could be facilitated by a possible resolution of the situation surrounding Iran and the restoration of normal operations along southern maritime routes?

 – Diversification of external economic relations is an important prerequisite for sustainable economic development in any country. For small and open economies such as Armenia’s, dependence on one or two markets is always risky. Therefore, Armenia’s external economic policy should be based not on an “either-or” approach but on a “both-and” principle. In other words, it is necessary to simultaneously develop relations with both traditional partners and promising new markets. Undoubtedly, new economic prospects and opportunities will emerge for Armenia if Iran, following the easing of sanctions and security-related restrictions, is able to integrate into the global economy as quickly and fully as possible. In such circumstances, Iran should be viewed not only as a market of approximately 93 million people but also as a strategic transit hub capable of connecting Armenia with the Persian Gulf, the Indian Ocean and the countries of South Asia. This, in turn, would help reduce logistics costs, shorten transportation times and increase the competitiveness of Armenian products in international markets. In this context, the markets of China and India become particularly important. According to forecasts by leading international organizations, the bulk of global economic growth in the coming decades will be generated in Asia. China remains the world’s second-largest economy and a major centre of global manufacturing, while India is one of the fastest-growing major economies. In both countries, the middle class is expanding rapidly, increasing demand for high-quality food products, beverages, healthcare, education and other services. At the same time, it is important not to overestimate the significance of market size alone. China and India are highly competitive markets where Armenia cannot compete in terms of production volume or low prices. Armenia’s advantage should be based on product quality, niche production, the Armenian country brand and high value-added goods. In other words, Armenia’s goal should not simply be to export more, but to export products that are more competitive and carry greater value. At the same time, the search for new markets should not come at the expense of traditional partners. The European Union is of strategic importance because it is a highly solvent market with demand for high value-added products and services. Therefore, Armenia’s export strategy should be based not on geopolitical choice but on economic pragmatism, simultaneously strengthening its presence in both the EAEU and the EU while gradually expanding cooperation with India, China and other rapidly developing Asian markets. Only such a multifaceted approach can enhance the competitiveness of Armenia’s economy and ensure resilience against external shocks.

– What is the current structure and statistical picture of Armenia’s trade and economic relations with India and China, both before and during the recent Iran–U.S. conflict? 

– Armenia’s economic relations with China and India are currently at different stages of development, something that is clearly reflected in official statistics. In recent years, China has become one of Armenia’s most important trading partners. While Armenia’s exports to China stood at approximately USD 290 million in 2020, they had reached USD 1.1 billion by 2024, increasing nearly 3.8-fold. During the same period, imports from China rose from USD 674 million to USD 1.73 billion. As a result, bilateral trade turnover amounted to approximately USD 2.8 billion in 2024. However, when analysing these figures, it is important to pay attention to the structure behind the volumes. The increase in Armenian exports to China has largely been driven by higher exports of mining products and precious metals, while imports are dominated by machinery, equipment, electronics and industrial goods. In other words, trade volumes are growing, but the structure of exports has not yet become sufficiently diversified. This trend has continued in 2026. During January–April, China’s share in Armenia’s foreign trade turnover increased from 12.2% to 14.5%, while bilateral trade grew by 19.4% to reach USD 914.5 million. This indicates the continuing rise of China’s importance in Armenia’s foreign trade structure. The picture is different in Armenia’s trade relations with India. Although political and economic cooperation between the two countries has intensified in recent years, trade volumes remain relatively modest. In 2024, Armenia’s exports to India amounted to USD 36.4 million, while imports from India reached USD 233.5 million, bringing total trade turnover to approximately USD 270 million. Looking at the dynamics of the past five years, exports from Armenia to India have fluctuated significantly. They exceeded USD 126 million in 2021 but subsequently declined. At the same time, imports nearly tripled over the same period, rising from USD 85 million to USD 233 million. This means that imports continue to dominate Armenia’s economic relations with India, while export potential has yet to be fully realized. Therefore, it can be concluded that in the case of China, Armenia’s main challenge is not trade volume but the structure of exports, whereas in the case of India, the challenge lies in making more effective use of existing economic potential. Improvements in both directions could make a significant contribution to diversifying the geography and structure of Armenia’s exports. As for the impact of the recent Iran–U.S. crisis on these relations, official statistics do not yet fully reflect it. Foreign trade indicators typically become clearer over time. However, if tensions persist and disrupt cargo transportation through Iran, logistics costs are likely to rise, transportation times may lengthen and insurance risks could increase. This would be particularly evident in Armenian-Indian trade and economic relations, as Armenia’s shortest land route to the Indian Ocean passes through Iranian territory. Conversely, if a stable security environment emerges in the region, Armenia will gain additional opportunities not only to expand economic ties with India but also with the wider regions of South and Southeast Asia.

– To put it figuratively, could Armenian pears find demand in Japan? More broadly, how do you assess the prospects for bringing Armenian agricultural and other products to the Japanese market? 

– The short answer is yes. However, success will depend not so much on the quality of the product itself as on our ability to adapt it to the requirements of the Japanese market. Japan is one of the world’s most demanding, but also one of its most solvent markets. Japanese consumers place high demands not only on product quality, but also on food safety, packaging, traceability and the reliability of supply chains. Therefore, having a good product alone is not enough to succeed in that market; it is also necessary to build trust. Armenia has a range of products that could be attractive to Japanese consumers. This includes not only fresh fruit, but, above all, processed agricultural products such as dried fruits, honey, natural juices, preserves, wine, brandy, mineral water, herbal teas and other natural products. These goods have longer shelf lives, are easier to transport and are more competitive in distant markets. However, entering the Japanese market requires addressing a number of practical challenges. These include obtaining international certification, complying with phytosanitary requirements, developing cold-chain logistics and establishing long-term partnerships with Japanese importers and distributors. Without these prerequisites, even high-quality products will struggle to reach consumers. At the same time, it is important that Armenian products be presented in Japan not merely as food products, but as goods that embody cultural and national identity. Origin, history and branding carry significant value in the Japanese market, and this is precisely where Armenia has a competitive advantage. Therefore, if we are able to combine high product quality, compliance with international standards and an effective export system, Armenian products can successfully establish themselves even in one of the world’s most demanding markets. The question is not whether Japanese consumers will be interested in Armenian products, but how effectively we can present those products and ensure their sustainable presence in that market.

– Continuing eastward, how would you assess the prospects of Armenian products entering the Korean market, including not only South Korea? 

– South Korea and North Korea cannot be viewed within the same economic framework. While South Korea is one of the world’s leading technological and industrial economies, the Democratic People’s Republic of Korea remains a closed economy operating under strict international sanctions and limited external economic ties. Consequently, the economic significance of these two directions for Armenia is fundamentally different. South Korea could be of interest to Armenia not only as an export market, but also as an investment and technology partner. The Korean market has stable demand for high-quality and safe food products, meaning that Armenian wine, brandy, dried fruits, honey, mineral water, organic agricultural products and other processed goods could find consumers there. However, success in this market also requires compliance with Korean quality and technical standards, international certification, developed logistics and a reliable network of partners. At the same time, South Korea can play an important role in the modernization of Armenia’s economy. The country is a global leader in high technologies, industrial production, agricultural technologies and logistics solutions. Cooperation in these areas could contribute not only to export growth, but also to improvements in production efficiency, processing capabilities and technological development in Armenia. The situation with North Korea is entirely different. International sanctions, limited foreign trade, difficulties in conducting financial transactions and significant political risks effectively rule out the country as a promising market for Armenian products. At this stage, practical opportunities for economic cooperation remain extremely limited, and therefore North Korea cannot be regarded as a priority destination from the perspective of Armenia’s export policy. Thus, while South Korea could become an important partner for Armenia in exports of high-value-added products, investment and technological cooperation, North Korea, under current geopolitical conditions, can hardly be considered a realistic market. Armenia’s external economic policy should focus on countries with strong purchasing power, predictable economic environments and genuine long-term cooperation opportunities.

 – Can you identify other promising destinations and markets for Armenian exports? 

– I believe that the future of Armenia’s exports depends not so much on finding new markets as on securing a competitive presence within those markets. It is already evident that an export model based on one or two markets cannot ensure sustainable long-term development. Therefore, our priority should be to expand the geography of exports while preserving traditional markets and simultaneously entering new economies with high purchasing power. Naturally, the Eurasian Economic Union and the European Union will continue to be Armenia’s principal partners. However, in the coming years greater attention should also be paid to the markets of South and East Asia, as well as the Gulf countries. In these regions, the middle class is expanding, purchasing power is increasing and demand for high-quality imported products is growing, creating new opportunities for Armenian producers. At the same time, discussions about exports should not be limited to goods alone. Armenia’s competitiveness can also be significantly enhanced through the export of services. Information technologies, engineering, education and healthcare services, tourism and creative industries are sectors in which Armenia can expand its presence in international markets. However, in my view, Armenia’s principal challenge is not a lack of markets but rather the structure of its exports, which remains largely concentrated in a limited range of products and raw materials. Sustainable long-term results can only be achieved if Armenia develops its processing industries, introduces new technologies, improves product quality and establishes a recognizable “Made in Armenia” brand in international markets. Another important priority is the development of the entire export infrastructure. This is not only about production. Armenia also needs efficient logistics systems, modern warehousing facilities, international certification mechanisms, export financing and insurance instruments, as well as a more active role for economic diplomacy. Together, these elements create the environment that enables producers to maintain a sustainable presence in foreign markets. Ultimately, I believe Armenia’s export strategy should be built on three principles: diversification of markets, development of high value-added products and continuous improvement of international competitiveness. If Armenia succeeds in combining these three directions, it will not only expand the geography of its exports, but also strengthen the resilience of its economy and enhance its long-term growth potential.

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Armenian Security Council Secretary to participate in Ukraine Recovery Confere

Politics10:19, 23 June 2026
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Secretary of the Security Council of Armenia, Armen Grigoryan, will travel to Gdańsk, Poland, to participate in the Ukraine Recovery Conference (URC 2026) on June 24–25, his office said on Tuesday.

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Mahmoud Kalari to head regional competition jury of Golden Apricot Yerevan Int

Culture10:39, 23 June 2026
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Iranian cinematographer, screenwriter, and film director Mahmoud Kalari will chair the jury of the Regional Competition of the 23rd Golden Apricot Yerevan International Film Festival, organizers announced on Tuesday.

Since the 1980s, Kalari has participated in the creation of more than sixty films, and his photographic works have been exhibited in various parts of the world.

Kalari’s work on the internationally acclaimed, Oscar-winning film A Separation (2011) earned him a Silver Frog at the Camerimage International Film Festival of the Art of Cinematography in 2011.

He is known for his work on internationally recognized films such as The Wind Will Carry Us (1999), Gabbeh (1996), Leila (1997), and Offside (2006), as well as for winning multiple cinematography awards at major international film festivals.

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Opposition MP’s home searched amid criminal investigation – Updated

Law10:53, 23 June 2026
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Detectives conducted a search on Tuesday morning at the residence of Ishkhan Saghatelyan, a Member of Parliament from the opposition Armenia bloc led by former President Robert Kocharyan. 

“Investigative and procedural actions are being carried out within the framework of a criminal proceeding,” the Investigative Committee told Armenpress.

The Investigative Committee later reported that a court had frozen 258 million AMD worth of assets belonging to Ishkhan Saghatelyan and his wife and barred them from managing their property. Authorities allege he failed to properly declare assets and supposedly failed to comply with a forfeiture order.

The criminal case was launched over alleged interference with frozen assets and failure to properly declare property and financial assets.

Foreign currency and gold jewelry were found during searches at Ishkhan Saghatelyan’s residence and in two vehicles belonging to his wife.

Update shows Investigative Committee’s statement on the accusations. 

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