responsible mining,
sustainable development

Amulsar Project


Geoteam presents a brief story on some of the social development projects implemented in Amulsar adjacent communities since exploration activities began in 2007. CSR for us is not just social projects. It's the combination of efforts invested in creating shared values with the communities, transparency, accountability and environmental responsibility.


Myths and Reality about Mining

Geoteam Senior Manager on Sustainability Speaks About Myths and Reality in Mining. Article was initially published on AMCHAM website.

In response to the questions addressed to Geoteam

Geoteam answers the questions addressed to the company in the open letter from Gndevaz residents.

Carl Nicholas: The standards for Amulsar project are in line with industry best practice 

Mediamax talked to an independent consultant for the Amulsar project, MSc in Environmental Diagnosis, Carl Nicholas as well as to the Senior Manager on Sustainability of Geoteam, Doctor of Engineering in Geo-Ecology, Armen Stepanyan about how the company is going to address the concerns of some stakeholders. 

Douglas Tobler: “Amulsar project will bring new technology and a world-class modern mining operation”


Lydian International CFO Douglas Tobler answered several questions around project financing in its interview with


Howard Stevenson: “Success of Amulsar will eventually translate into the success of Armenia”

Mediamax’s interview with Howard Stevenson, President and CEO of Lydian International


The Ministry of Energy and Natural Resources has granted to Geoteam CJSC, Lydian International’s 100% owned subsidiary, Mining Right for the Amulsar Gold Project. This represents the final stage of the mining permitting process and grants the Company the right to develop the Amulsar Project in line with the parameters detailed in the feasibility study. 

Amulsar Project's Public Hearings in Gorayk (27/09/2014)

Part 1

Part 2

Part 3

Part 4

Q&A during public hearings in Gndevaz (25/08/2014)

Geoteam Welcomes IFC and EBRD Review of Amulsar Gold Project

Geoteam worked with experts from the International Finance Corporation, part of the World Bank Group (IFC) and the European Bank for Reconstruction and Development (EBRD), who visited the Amulsar Gold Project area last week to perform their annual review of the project development.

Lydian International's CEO Interview with H2 TV


Public Hearings on the Amulsar project Environmental Impact Assessment (EIA) presented by Geoteam CJSC will take place on September 27, 2014 11:00 AM in Vayots Dzor Marz Gorayk community. All interested parties are welcome to participate. 

Lydian Announces Positive Results from Updated Feasibility Study for the Amulsar Gold Project 

Lydian International CEO Howard Stevenson's interview to Yerkir Media TV in Armenia


Public Hearings on the Amulsar project Environmental Impact Assessment (EIA) presented by Geoteam CJSC will take place on August 25, 2014 10:00 AM in Vayots Dzor Marz Gndevaz community. All interested parties are welcome to participate. 

Hayk Aloyan: “Amulsar project is truly a unique investment project in Armenia”

The Managing Director of Geoteam CJSC, Hayk Aloyan, answers the questions of Mediamax about the recent developments around Amulsar project. 

Lydian CEO Interview

In an interview to Mediamax Lydian's new President and CEO Howard Stevenson explains at what stage Amulsar project  is, answers questions on concerns raised by some stakeholders, talks about economic impact and opportunities that modern mining provides.

Jean Michel Happi the World Bank's country manager for Armenia on responsible mining

The World Bank's country manager talks about the opportunities responsible mining can bring to Armenia in a blog post.

Armen Stepanyan: “All the environmental risks of exploitation of Amulsar are manageable”

Mediamax talked to Environmental and Social Manager of “Geoteam” Armen Stepanyan about the environmental risks and the impact of exploitation of Amulsar.

US Ambassador John Heffern on Amulsar

In an interview to US Ambassador to Armenia John Heffern has answered a question on Lydain International and Amulsar project.

Social Projects Opening in Jermuk

52 million AMD has been allocated for renovation of the Art Center. The company has provided 45 million drams for renovating the kindergarten “Zatik”.

Mayor of Gndevaz: “The villagers will prefer that the Company takes the land”

168Hours on the recent development on Amulsar project

Hayk Aloyan: Lydian attracted reputable institutional investors to Armenia

Interview of Geoteam CEO Hayk Aloyan to Mediamax.

Deputy PM familiarized himself with some of the Social Development Projects

On October 4, Deputy PM Armen Gevorgyan visited Jermuk and familiarized himself with some of the Social Development projects Geoteam undertakes in Jermuk.

IFC: Geoteam can become an example for other mining companies in Armenia

Corporation’s Environmental and social specialist for mining investment Raymi Beltran told about IFC’s environmental and social requirements as well as how the corporation oversees client companies.

IFC, EBRD visit Amulsar

The International Finance Corporation (the “IFC”, the private sector investment arm of the World Bank Group) and the European Bank for Reconstruction and Development (“EBRD”) delegations were in Armenia from June 3rd to 7th on a supervision visit to review the development of the Amulsar gold project.

UK, US Ambassadors Visit Amulsar

On June 26 Ambassador of the UK Katherine Leach and Ambassador of the USA John Heffern visited the Amulsar gold project site and the two of the surrounding villages, namely Gorayk and Gndevaz.

Lydian International’s Main Shareholders

Lydian’s largest shareholder is the International Finance Corporation (IFC; part of the World Bank Group). The European Bank for Reconstruction and Development (EBRD) is also a major shareholder in the Company. Other major shareholders include a number of North American and European natural resource institutional investors. The largest among them - Franklin Templeton Investments, Mackenzie Investments, RBC, AGF.

Lydian International is listed on the Toronto Stock Exchange since January 2008. (TSX:LYD)