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The official website of Gegi Gold company

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Our Company

About us

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     “Geghi Gold” LLC was founded in RA Syunik region, Kapan city, on 09.07. 2012, legal entity state registration N03A271815.Company office is located in 6 Melik Stepanyan, Kapan city, Syunik region of RA. The activity of Company is a mining industry.

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Contack

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Surik Sergey Khachatryan

General director 

Tigran Surik Khachatryan

Deputy of General director

Armen Rshtuni Bakunts

Executive director

Ervand Avetis Tsatryan

Deputy of Executive director

Maksim Levon Martirosyan

Geological-exploration production chief “Geghi Gold”

Vahan Rafik Grigoryan

Chief Geologist

Our Company

    “Geghi Gold” LLC was founded in RA Syunik region, Kapan city, on 09.07. 2012, legal entity state registration N03A271815.Company office is located in 6 Melik Stepanyan, Kapan city, Syunik region of RA. The activity of Company is a mining industry.

      “Geghi Gold”LLC owns Voskedzor gold-polymetallic deposit.  

      Voskedzor deposit is situated 50km north-west of Kapan city, Syunik region of RA, 180km south-east from capital Yerevan in Bargushat mountain range and in upper stream of Geghi river basin. Mineralization is mainly characterized by hydrothermal ore zones and belongs to middle thermal; both vein and veinlet-disseminated type.

      In Voskedzor deposit gold appears both accompanied with polymetalls and independently.

      During Soviet Union period some works were done in the deposit area and Company obtained  reports on geological-exploration works from RA Geological fund.

 

 

 

 

 

 

 

   

 

 

 

 

 

Since 2013 Company has been conducting intensive prospecting and exploration works in the area. Not disregarding the previous works, it may say that based on their base, the works has started from the beginning in sequence order: topo survey, geological survey, prospecting, geochemical and geophysical complex works, structural analyses, installation of exploration channels, pits, trenches, restoration of previous installations and drilling.

      Company estimated and represented the resources to Mineral Resources Agency of RA Energy and Natural Resources Ministry Stuff for approval in the result of which based on Decision N380, dated on 24.11.2014 the reserves of Voskedzor gold-polymetallic deposit by  C1 and C2 categories were approved.

For implementing the programs into international standards and in appropriate way, Company signed work contracts with internationally high qualified professionals of Canadian companies: Ricardo Valls-Valls Geoconsultant, doctor Jorge Cruz Martin- Fenix Geoconsultant and Vadim Galkin- West Red Lake Gold Mines.

     The consultants  co-operated with Company and at their direct presence and joint efforts, geological works were done. They prepared three reports on Voskedzor gold-polymetallic deposit  by N43-101 method:July, 2013; November, 2013 and July, 2014. Based on the last: July, 2014, N43-101 report, the following amount of resources in 16,17 million t. ore for Voskedzor gold-polymetallic deposit was calculated:

 gold 967 091 oz.                         1.86g/t average grade,

 silver 7 364 524  oz.                   12.91 g/t average grade,

 copper 34 853 429 lb.                963.13 g/t average grade,

 zink 28 774 827 lb.                    749.33 g/t average grade,

 lead 17 247 218 lb.                    476.11 g/t average grade.

 

       After approval of resources, Company started to implement necessary works for obtaning mining license.

      By Company request, EIA report and deposit operation project were prepared by “Greentechno”LLC; public hearings, all the documents and procedures established by law were implemented, and based on N77-A, 22.07.2016 order by Minister on mining license issuance, Company obtained N SHAT-29/544 Syunik region of RA mining license for Voskedzor gold-polymetallic deposit for 29,4 years period and N L-544 mine claim act-for open pit mining.

       It is planned that Voskedzor gold-polymetallic deposit will be operated by open pit mining: by two open pits

      Annual productivity of open pits is accepted to be  1 million t/y ore.Total duration of operation and construction will be  29.4 years, where mine capital works will take  4 years and operation-25.4 years.

 

 

 

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Partner

In the course of cooperation with several local and international companies, "Geghi Gold" LLC performed a great amount of work. In order to implement geological-exploration works in accordance with international standards,

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international qualified specialists: Ricardo Valls from "Geoconsultant" and Jorge Cruz Martin and Vadim Galkin from "Fenix Geoconsultant" companies were involved.

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For drilling works, one of the top level companies in Armenia- "Vahan EHA" Ltd wasinvited which provided high quality work.

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Laboratory analysis of samples was entrusted   to "SGS Bulgaria" company of Kapan branch.

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For control of laboratory analysis, we had a cooperation with international companies, such as; "Actlabs" and local "Analytic" CJSC.

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Social policy

Our company follows to the human rights provisions of the UN Declaration of Human Rights. Company accepts and understands the proper performance of social issues as a priority and is committed to sustainable development. During his activities, company carries out social programs that aim to increase life quality of employees and the population of communities.
     Social policy of the company is run by 2 directions.
    Policy within the company-INTERNAL.
    Internal policy is limited within company;
by taking care of its employees, improving their social state. Internal policy for the development and advancement of the company, as a rule, is based on not only interconnections between employees but also relations between management and employees.  
     Geghi Gold Company has developed and is implementing corporative social programs:
1. Financial and material assistance to employees
2. Sport events
3. Corporative events
4. Safety trainings
5. Invitation of Armenian and foreign specialists, organization of trainings to enhance professional qualifications of the staff
6. Organizing business trips for the employees into other companies for experience exchange (including abroad as well)
7. Organization of cultural events
8. Training of innovative programs and undertaking steps for the development.
     Policy on social state improvement of the communities located in the license area-EXTERNAL.
     In external social policy prior role is given to our social and state obligation under law. Implementation of all taxes, duties and other obligatory payments.
     In addition, by a voluntary initiative, the company conducts social programs in the adjacent communities. They are as follows:
A. Social impact assessment and risks
B. Description of provisions of social state improvement of the population.
     The calculations of the indicators of the impact caused by Voskedzor mining complex operation and their comparison with the requirements of applicable regulations shows that there are no excessive use and violations of environmental regulations. Particularly main risks are related to air contamination, conversion of pastures (become unusable areas for land cultivation) and noise impact which based on the calculations are within permissible limits of environmental regulations. Based on these circumstances, the need for relocation or evacuation of the population may not occur.
    The project of Voskedzor mine operation is a business project which aims to provide profits.  At the same time involving many people from local and adjacent communities, will contribute the improvement of their living standards and will solve several social issues.
Description of the involvement in the social-economic development process of the community.
During operation of Voskedzor mining complex of “GEGHI GOLD”LLC, the initiative planned to participate in the development programs of the exposed communities.
The participation will be performed in different directions. Social development programs of the communities:
•    A discussion will be held and in case of mutual agreement, compensation issue resulted from the change of soil resources status. The communities will get a significant amount of compensation which can also solve social issues.
•    Company by its own efforts will carry out improvement and maintenance activities on the deposit and adjacent areas.
•    The residents of communities will work in Company structure whose income will gain at the expense of Company and will contribute the solution of social issues of employees and their families.
•    For meeting economic needs of mining complex personnel, various associate organizations will be created which activities will be closely connected with the complex and will also contribute to the social development of the exposed communities.
•    The complex will create special funds, which will intend to solve various social issues of company employees.
     Geghi Gold company pays a special attention to have a good relationship with the adjacent communities and for maintaining good relationships, constant visits, meetings are made with the head of rural municipality and the population.
     The aim of visits and meetings is to ensure mutual respect and cooperation for implementing social welfare programs for the communities and population of the region.

 

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Environment

 From the beginning a man used natural resources for his survival and well-being.
  For the right use of natural resources, it is necessary to fully study and assess them therefore apart from geological-exploration works in the license area of the company, environmental measures are also taken.
  One of the most responsible parts of Company adopted policy on environment is reducing adverse environmental impact caused by the activity and recovery of environmental damage. Continuous monitoring is done on biodiversity, water and soil mass study and harm- reduction measures.
   "GEGHI GOLD" LLC in its actions will be guided by international environmental obligations of Armenia and the requirements of RA laws which refer to the impact of such activity.
    They are as follows:
 
    RA law on «The vegetable world»  (23.11.1999)
    RA law on «The animal world» (03.4.2000)
    RA Soil code (02.5.2001)
    RA Governmental decision N1026-N, 08.09.2011 on “Approval of technical regulation requirements for determination of fertile soil removal norms and protection and use of removed fertile soil”
    RA Governmental decision N1396-N, 08.09.2011 on “Approval of the procedure of fertile soil  use”
    RA Governmental decision N72-N, 29.01.2010 on “Approval of Red Book of RA plants” 
    RA Governmental decision N71-N, 29.01.01.2010 on “Approval of Red Book of RA animals”
    RA Governmental decision N781-N, 31.07.2014 on “ Definition of the procedure for RA Vegetable world objects protection and the use of  them for reproduction purpose in natural conditions
    RA Water code (04.6.2002)
    RA Subsoil code (06.11.2002)
    RA Forest code (24.10, 2005)
    RA law on Administrative violations (06.12.1985) –chapter 7
    RA law on “ Environment control” (11.4.2005)
    RA law on “Natural areas of special protection” (27.11 2006)
    RA law on “Air protection” (01.11.1994)
    RA law on “Environment impact assessment and expertise” (21.06.2014).
    "GEGHI GOLD" LLC prepared report on Environment impact assessment, and  project solutions of deposit operation, detailed calculations, environmental measures are brought in the EIA report of the planned activity:
1. Environment potential and planned impact assessment
2. Assessment of economic damage caused by environmental impact
A. Atmospheric air
B. Water resources
C. Soil resources
D. Determination of (overall) damage of environmental impact
3. Planned measures and programmes in unfavourable conditions and emergency situations
A. Unfavourable meteorological conditions
B. Fire safety
C. Emergency situations
 
4. Environmental measures and environment management plan (EMP)
A. Provisions of mine closure program
B. Mining complex closure program, purposes and problems
C. Planned actions of closure
D. Environmental measures
E. Social-economic measures
F. Organization of closure procedure
G. Monitoring program
H. Installation of monitoring points and frequency of monitorings
  The given report consists of work project of Voskedzor gold-polymetallic deposit operation,  Technical task requirements of 15.12.2015 TT 55 of RA Environment protection ministry, general lay-out of the deposit, RA law requirements on environment and natural resources and  general technological solutions of process plant and tailing dump.

 

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