“Geopromining Gold LLC”

Geopromining Gold LLC operates the Sotk gold mine and the Ararat gold extraction plant.

The remaining reserves of the Sotk deposit are estimated at 47.7 tons of gold (as of January 1, 2021).

The Sotk mine is exploited using both open-pit and underground mining methods.

The production capacity is approximately 1.75 million tons of ore per year.

The company is listed among Armenia’s largest taxpayers.

Development History

Since its acquisition, Geopromining Gold LLC has invested over USD 300 million for the development of the company. The investment program included the technical re-equipment of the open-pit mine and the technological modernization of the Ararat gold extraction plant.

At the time of acquisition, the Sotk mine and Ararat plant were non-operational, primarily due to a lack of ore ready for processing.

In a short period, Geopromining successfully restarted both the mine and the plant. However, the technological equipment at the Ararat plant was not designed to process the remaining sulfide ore from the Sotk deposit.

To address this, Geopromining completely reengineered the ore processing technology at the Ararat plant. Based on a thorough analysis of Sotk ore, the company implemented the advanced Albion technology from the Australian company Xstrata, which ensures the highest gold recovery rates while maintaining the best environmental standards.

Albion’s unique technology allows for the simple and efficient processing of sulfide ore to maximize metal recovery. Previously, it had only been developed, patented, and applied by Xstrata in Australia and the Dominican Republic for copper ore. The Sotk project in Armenia represents the first application of this technology for gold ore processing.

The modernization of the Ararat gold plant also led to an increase in employment. The company currently employs 1,350 people.

Corporate Social Responsibility

For more than two decades, we have remained committed to the principles of corporate citizenship and social-humanitarian activity in the regions where we operate. The company considers strong relationships with local communities an integral part of its business development.

We closely monitor the impact of our operations on society and the environment and, guided by our corporate philosophy, implement social and humanitarian projects. As a responsible corporate citizen, we strive to address social challenges in regions where the company has the resources, knowledge, and capacity to make a difference.

We regularly invest in social programs aimed at developing infrastructure, maintaining sanitary and hygiene standards, supporting utilities, reconstructing roads, improving fire safety, ensuring energy and water supply, and implementing gasification projects for villages, schools, and kindergartens.

The company also places special emphasis on education, culture, sports, environmental protection, and healthcare.