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- About the organization
- Head
Lydian Armenia CJSC (formerly “Geotime”) is a mining company registered in the Republic of Armenia, holding the license for the operation of the Amulsar gold deposit.
The company was established in 2005 and, through extensive geological exploration, discovered the Amulsar gold deposit. Lydian Armenia is wholly owned by the Canada–U.S.-based Lydian Canada Ventures CJSC, which, in turn, is owned by the American company Orion Mine Finance and the Canadian company Osisko Gold Royalties.
During its operations, Lydian Armenia has committed to following ethical principles and adhering to the performance standards and requirements of the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC).
In addition to conducting an Environmental Impact Assessment (EIA), Lydian Armenia was the first company in Armenia to carry out an Environmental and Social Impact Assessment (ESIA) in compliance with the requirements of international banks and financial institutions.
The company invested over USD 6 million in the preparation of these documents, engaging both international and local reputable scientific institutions, including Wardell Armstrong International, Golder Associates, Global Resource Engineering, Treweek Environmental Consultants, Environmental Resource Management, LUC, as well as the Institute of Botany and the Scientific Center of Zoology and Hydroecology of the NAS of Armenia, among others.
Lydian Armenia is the first company in Armenia to join the International Cyanide Management Code. The company emphasizes the implementation, maintenance, and transfer of a strong culture of health and workplace safety among its employees, contractors, and the communities surrounding Amulsar, following internationally recognized best practices.
The Amulsar project is also the largest investment project in Armenia since independence, with approximately USD 500 million invested to date.
Contact Information:
Yerevan, 26/1 Vazgen Sargsyan St., 0010, Armenia
Tel.: +374 (10) 586037
Email: info@lydianarmenia.am
Website: www.lydianarmenia.am
Founder and CEO of Lydian Armenia CJSC
Hayk Aloyan is a candidate of geological sciences, an expert in resource assessment, and has authored 51 scientific articles and 3 books on mineral geology. He also holds a Master of Business Administration from the University of Cambridge.
Hayk Aloyan has 25 years of experience in the mining industry.
He led the group of geologists that began large-scale geological exploration studies in Amulsar in 2006, which resulted in the discovery of the Amulsar gold deposit. It is the first and largest gold deposit discovered in Armenia since independence.
Prior to the discovery of Amulsar, Hayk Aloyan led a group of geologists studying metallurgy in terrigenous-carbonate deposits in Armenia. He then held the position of Deputy Head of the Geological Exploration Department at the Institute of Mining and Metallurgy. He has been involved in the development of feasibility studies for almost all mining projects in Armenia.
In 2005, Hayk Aloyan founded Lydian Armenia (formerly Geoteam) and is currently the company’s CEO.
