Geoteam presented a brief video on social development projects implemented in Amulsar adjacent communities.

The company has started cooperation with the communities since early exploration.

“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”, the company’s press release reads this.

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.

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. 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 company’s press release notes.