Geopromining Supports Construction of Kindergarten in Ararat Region

Posted on Feb 8, 2012 in Company news, News and Press releases

Geopromining Supports Construction of Kindergarten in Ararat Region

8 February 2012, Yerevan

GeoProMining (GPM or the Company), the diversified international mining group, today signed a cooperation agreement with Ararat Region authorities and the Social Investment Fund on the social development of the region, as part of which the Company will co-finance the construction of a kindergarten in the community of Aintap. GPM is involved in the project as part of its social-responsibility programme Resources For Good.

The idea for the new kindergarten came from Armenian President Serzh Sargsyan. During a visit to Ararat Region on 6 July 2011, Sargsyan learned about progress made on social and economic development in the region. The president also met local inhabitants who told him that one of their biggest needs was for a new kindergarten.

Construction began in July 2011, and will cost 300 million drams. The Armenian government will contribute 80 million drams, GPM 90 million and the Social Investment Fund 130 million.

After the ceremony, officials from GPM, the Ararat Region administration and the Social Investment Fund were given a tour of the construction site and noted the rapid progress made to date. The work is planned to be completed in October 2012.

“We have enjoyed a constructive working relationship with GeoProMining, one of the largest mining companies in our region, for some time,” Ararat Region governor Edik Barsegyan said. “GPM takes its social mission very seriously, and helps the city and the region to improve its infrastructure, supports education, culture and sport and programmes for young people. Support for the kindergarten is further evidence of GPM’s attitude to the needs of our region.”

“We are delighted to support this project, which directly meets the needs of the local population and pushes forward the development of the region as a whole – one of the goals of our fund,” said Ashot Kirakosyan, executive director of the Social Investment Fund. “This is not the first project we have undertaken with GeoProMining. We have also worked with them on the reconstruction of the House of Culture in Vardenis. In GeoProMining, the Armenian Social Investment Fund has found a reliable and willing partner, and we are delighted to be continuing our collaboration.”

At the ceremony GPM CEO Roman Khudoliy said: “As a socially responsible company, GeoProMining is actively involved in the social and economic development of the regions where we have assets. We maintain a continuous dialogue with local authorities and administrations, and can therefore react quickly to meet the needs of local communities. Helping to develop the social infrastructure in these regions is one of the priorities in our Resources For Good programme, and we are delighted about this public-private partnership that will help meet an urgent need of the local community.”

Press contacts:

Ruzanna Grigoryan

Tel: +374 (94) 19 07 13



About GeoProMining:

GeoProMining, founded in 2001, is an international, privately held company with a diversified base of gold and other metals assets. GeoProMining engages in mining activities in Armenia, Georgia and the Russian Federation.