History

An overview of our development
Year Activity
2001-2004 Foundation 

2001

  • Company founded in 2001 as Stanton Equities Corporation
2005-2008 Acquisition of Initial Asset Base 

November 2005

  • Madneuli JSC acquired through privatisation of a Georgian state-owned copper-gold company

December 2005

  • Leading Georgian gold producer Quartzite Ltd acquired

Regional Consolidation

September-October 2007

  • Acquisition of Sterlite Gold (AGRC), owner of the Zod gold mine and Ararat gold extraction plant in Armenia

December 2007

  • Addition of a large copper-molybdenum mine and processing facility to Armenian portfolio through acquisition of Agarak Copper-Molybdenum Mine Complex

December 2007

  • Company renamed to GeoProMining Ltd.

March 2008

  • Company finalises acquisition of Sarylakh Surma and Zvezda antimony mines in Yakutia (Russia)
2008-2012 Modernization and Growth 

  • Launch of modernization and upgrade of mines processing facilities to enhance and expand existing operations
  • Further regional consolidation through intensified exploration activities and development of new projects
    June 2010

    • Modernization and expansion of the Agarak processing plant began

    July 2011

    • Launch of Albion technology project (Xstrata) at the Ararat gold extraction plant

    April 2012

    • Upgrade of the Agarak processing plant completed increasing ore processing volumes to 3.5 Mtpa. Drilling programme increased the complex’s resource base and prolonged its lifetime up to 35 years

    June 2012

    • Georgian operations (Madneuli and Quartzite) were disposed of for USD120 million