News

GEOPROMINING ANNOUNCES A NEW PHASE OF DEVELOPMENT OF SOTK MINE #832

08.12.2017

"GeoProMining" - a diversified international group of companies (GPM, or the Company) continues investing in technical re-equipment of Sotk mine, operated by its affiliated company "GeoProMining Gold".

The program of technical re-equipment of the Sotk mine is aimed at increasing the mine's productivity. The program assumes a systematic approach to the development of the mine, respectively, a capital investment of $ 5 million USD, and an increase of jobs up to 135 people. The company is planning to complete the recruitment of the new employees by the end of the first quarter of 2018.

"Modernization of the Sotk mine is the continuation of the development policy of GeoProMining's activities in Armenia. I believe that in Armenia we are able to effectively use our resources for the benefit of all interested parties" said Roman Khudoliy, the President of the GeoProMining.

The company "GPM Gold" is part of the international group of companies GeoProMining. During 2007-2017 years the Ararat gold recovery plant and the Sotk mine were completely modernized. Since 2008, in the development of Sotk mine the Company invested about $ 53 million USD.

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Armenian Jewellers Association | Since 1998
Armenian Jewellers Association | Since 1998