Geoteam
Our mailing address is:
Hanrapetutyan 37, 4 floor,
Yerevan, Armenia
Tel: +37410546037
Email: [email protected]
During the last 4-5 years the local budgets of Amulsar adjacent
communities have increased significantly from AMD 2-3 million in
2006-2008 to AMD 60 up to 205 million in 2013-2014.
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1aaa90b5 Geoteam has contributed around AMD 720 million (USD 1.6
million) to communities adjacent to Amulsar in land rental fees.
As part of company disclosure policy Geoteam, a fully owned subsidiary
of Lydian International informs all stakeholders about the payments to
local governments at the end of each year. The communities of Saravan,
Gorayk and Gndevaz have received overall about AMD 720 million from
Geoteam in land rental payments in 2008- 2014.
Land rental payments in 2014:
. Saravan about AMD 205.6 million
. Gorayk about AMD 171.5 million
. Gndevaz about AMD 63.1 million
Amulsar gold project mine construction hasn’t started yet, but the
company has been renting the community lands for exploration
activities, as well as various other needs, including tree nurseries,
road constructions, etc.
During the last 4-5 years the local budgets of Amulsar adjacent
communities have increased significantly from AMD 2-3 million in
2006-2008 to AMD 60 up to 205 million in 2013-2014. Some of the money
is reinvested by the communities into several infrastructure repair
projects as well as joint social development projects in the
communities in partnership with Geoteam.
In 2014 Geoteam has also allocated over AMD 900 million on
environmental and social studies, research and other activities,
including exploration rehabilitation, social development projects and
more.
In 2014 around AMD 135 million was allocated for social development
projects in the communities including agricultural development through
10 greenhouses, animal husbandry project in Gorayk, fruit drier in
Gndevaz. Infrastructure and facilities such as: school sanitation and
canteen in Saravan, health post and dentistry in Gorayk, playground in
Gndevaz. In all three communities Geoteam has implemented educational
and sports projects such as scholarship support to 12 students
studying mining engineering and geology, dance groups and choirs for
kids, sports and educational projects for schools and
kindergartens. School sanitation and canteen were renovated and two
playgrounds were built in Jermuk.
`Geoteam’s contribution to local budgets of the communities has been
significant in the recent years. We have also invested into various
development and capacity building projects in the communities. We
believe that active partnership with our communities will bring
success to Amulsar project and build prosperous and strong communities
around the project. The most tangible benefits, however, are yet to
come, with the construction of the mine due to start next year, with
around 1500 jobs during construction and 700 jobs throughout the life
of the mine. Amulsar is not just an investment project of 420 million
dollars but also an opportunity to build a modern, environmentally and
socially well managed world-class mining operation in Armenia that
will benefit the communities and the country’, says Hayk Aloyan,
Managing Director of Geoteam CJSC.
Payments of Geoteam to the communities in land rental fees in 2014
** Geoteam presents a brief story on some of the social development
projects implemented in Amulsar adjacent communities.
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Fruit Dryer in Gndevaz
Greenhouse in Gorayk
Saravan Dance Group
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Copyright © 2014 Geoteam CJSC, All rights reserved.
From: Emil Lazarian | Ararat NewsPress
