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Citizens of Armenia, Belarus and Kazakhstan have the right to receive insurance benefits along with Russians

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Alliance Party comes out with public statement on crimes committed by Electric Networks of Armenia

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Azeraijan's vetoing the Riga Summit declaration was a senseless and shortsighted step, Martin Schulz says

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Armenian National Congress calls on the citizens to join the campaign against rising energy costs on May 27

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"Rusastanyan 20" and "Rusastanyan 35" Beeline services available for postpaid subscribers

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Latvian FM says Armenia and Azerbaijan can claim visa liberalization with EU, if they meet all the necessary requirements

European Commissioner: Cross-border cooperation between Armenia and Azerbaijan to open up new opportunities for Karabakh conflict settlement

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Ara Nranyan stresses the need to avoid unreasonable stimulation of import and regressive closure of markets

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Shootings Towards Syunik Governor's Car

On May 21 Serzh Sargsyan Will Leave for Latvia to Participate in the Riga Summit

Amulsar will be the first mine in Armenia to bring modern, environmentally friendly heap leaching technology to the country, Geoteam says

  • by Arthur Yernjakyan

  • Friday, July 4, 12:07

Amulsar will be the first mine in Armenia to bring modern, environmentally friendly heap leaching technology to the country with no process discharge to the environment and no tailings dams, the press service of Geoteam CJSC says.  

"We also believe that the very essence of the Corporate Social Responsibility is carrying out our core business in a responsible manner, ensuring fair employment, equal opportunities, transparency and responsible environmental management. This is what Amulsar project will be aiming at", the source says. 
"We have engaged with local communities since early exploration and defined engagement from the very start as not just assessment of the needs of communities and social investments but strategic partnership and creation of shared values. That is what Corporate Social Responsibility (CSR) is about: making sure that local communities benefit from the project, implementing common goals and a shared vision of success.  We strongly believe that local communities are some our most important partners and that belief has been the anchor of all of our social engagement initiatives.  
Although the Amulsar mine isn't an operating mine yet and the company doesn't have any income we have been investing in infrastructure and social projects to ensure sustainable development and improved livelihoods in the communities. 

Since exploration the company has undertaken several projects in Gorayk, Gndevaz and Saravan as well as Jermuk. Overall more than 455 mln AMD has been so far invested in social development projects until 2013. In 2014 additional 165 mln AMD is planned to spend. Additionally the company is paying for the land rent to local communities. Last year the company has paid around 200 mln AMD. In 2014 that sum will be 445 mln AMD. 

However the most opportunities for the communities will come as the construction starts and during the operation of the mine.  The 18 month construction period will bring investments of several hundred million dollars, jobs and service contracts for local small and medium enterprises.  This will continue over the 10 year mine life, thereby offer tangible economic benefits to the region and the country", the company says. 

Geoteam CJSC is an Armenian mineral exploration and development company, which is a 100% owned subsidiary of Lydian International Limited. Geoteam CJSC was incorporated in 2005 and after an extensive campaign of geological exploration in Armenia discovered what is now its flagship project; the Amulsar mountain. Amulsar is a new gold discovery, the first for over 20 years in Armenia. Geoteam CJSC is carrying out geological exploration in the Amulsar area of RA Vayots Dzor Marz, under a Prospecting License, granted in 2006 by RA Ministry of Nature Protection.

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