by Arthur Yernjakyan
Deputy Prime Minister - Minister of Territorial Administration of Armenia Armen Gevorgyan discussed the corporate social responsibility program of Geoteam Company while on a working visit to Syunik region, Armenia, the ministry said.
Governors of the Syunik and Vayots Dzor regions, the heads of the local administrations and Geoteam Company attended the meeting. The program of Geoteam's corporate social responsibility in the communities of Jermuk, Gndevaz, and Saravan adjacent to the Amulsar gold deposit was discussed at the meeting. Geoteam is currently exploring the given deposit. Afterwards, Armen Geovrgyan visited a local dairy company "Borisovka."
Amulsar is the only gold deposits found in Armenia after the collapse of the Soviet Union. The only shareholder of Geoteam Company is Lydian International. In 2009 EBRD became a shareholder of Lydian International and later on 21 March 2012 the bank increased its share to 6.80%. IFC holds 10.23% of shares in the company.