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.


Geoteam hands over radio guides to Matenadaran

Matenadaran, the Scientific Research Institute of Ancient Manuscripts, will hence carry out group tours with high quality radio guides. A total of 7 transmitters and 120 receivers will allow to simultaneously receive large touristic groups, providing the most comfortable conditions for visitors.

Amulsar: Myths and Reality

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

A New Project in Jermuk

Plastic waste can cause serious environmental problems, as it does not decompose under natural conditions. Plastic garbage should be collected and isolated for the purpose of processing. Unfortunately, it is not a common practice in Armenia. However, in March 2015, with Geoteam CJSC’s support, a Project - “From Waste to Souvenir”- was launched in Jermuk, in secondary school named after Maxim Gorky.

Why Geoteam Invests into Social Projects before Seeing Profit

with Geoteam CEO Hayk Aloyan

Prime Minister of Armenia and US Ambassador visited Amulsar

On August 15, Prime Minister of Armenia Mr Hovik Abrahamyan, and U.S. Ambassador Richard M. Mills, Jr. visited Lydian International’s Amulsar project site. The Minister of Energy and Natural Resources Mr Yervand Zakharyan and the Governor of Vayots Dzor and the Mayor of Jermuk accompanied them. The Ambassador, Prime Minister, and Minister of Energy had the opportunity to tour the Amulsar Gold Project site with Mr. Hayk Aloyan, the General Manager of Geoteam CJSC, a fully owned subsidiary of Lydian International.

Amulsar: Questions and Answers 

Lydian International and its fully owned subsidiary in Armenia Geoteam CJSC have concluded a series of ESIA consultations around Amulsar Gold Project ESIA. The consultations were held at Amulsar adjacent communities of Gndevaz, Saravan and Gorayk, the town of Jermuk as well as in Yerevan in the period of July 20-23.

Question asked: Are Geoteam ESIA public consultations open for all stakeholders?

Geoteam, a fully owned subsidiary of Lydian International Ltd. is pleased to announce that it held a successful series of public consultation and disclosure events on the ESIA in the Amulsar-adjacent communities of Gorayk, Saravan, and Gndevaz, as well as in the town of Jermuk. The consultations were well attended and provided an opportunity for a constructive dialogue. Additional focus group meetings will take place as required by local residents.     

Geoteam is wrapping up the series of ESIA consultation disclosure meetings with an event in Yerevan Hyatt Place hotel on July 23, at 2PM. Civil society organizations, representatives of mining companies and other interested parties are invited to attend. As always our consultations are open to all stakeholders willing to participate as it is the company approach to have an open door policy.

We are looking forward to a constructive dialogue with an open discussion. 

ESIA Public Consultations in Gndevaz, Gorayk and Saravan as well as in Jermuk City

July 20-21, 2015


From July 20 to July 23 Geoteam will organize public consultation events on the Amulsar Environmental and Social Impact Assessment (ESIA). The schedule of the meetings is as follows:

July 20, at 10:00 in Jermuk, at Hyatt Place Hotel

July 20, at 14:00 in Gorayk, at Gorayk Library

On July 21, meetings will be held in Gndevaz high school, at 10:00, and in Saravan Municipality, at 14:00, respectively.

On July 23, at 14:00 a pubic consultation on ESIA will be held in Yerevan, at Hyatt Place Hotel.   


From July 20 to July 23 Geoteam will organize public consultation events on the Amulsar Environmental and Social Impact Assessment (ESIA) in the communities of Gorayk, Gndevaz, Saravan as well as in Jermuk and Yerevan. Geoteam and Lydian specialists as well as local and international experts will be available to discuss the work and to clarify any concerns. Details about time and place of the events will be announced shortly. 

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)