The company GeoProMining Gold commented on the disinformation in the newspaper Zhoghovurd

ArmInfo. The company GeoProMining Gold considers it necessary to bring its comments on the publication "The Russian Company Dooms 70 Families to Famine" in the newspaper Zhokhovurd from September 27, 2017.

According to the company's message, "GeoProMining Gold" really intends not to renew the contract that loses its force from January 1, 2018, with a subcontractor - the company Akhnadzor. This step was motivated by the intention of GeoProMining Gold to improve the financial stability and productivity of the Sotq mine by incorporating the subcontractor's obligations into its own production. To this end, the Company purchased heavy quarry equipment, which will ensure the implementation of the production program.

Reported in the publication of 70 drivers of heavy vehicles are working in the company "Aknadzor", and "GeoProMining Gold" has no obligations to them. However, proceeding from the social responsibility policy, "GeoProMining Gold" is ready to recruit drivers of the company "Aknadzor", currently working under the contract with "GeoProMining Gold" for the transportation of ore. Proceeding from this, as a result of the reorganization, the number of workers for Vardenis dwellers and residents of local communities will increase. To work on the acquired equipment of the company "GeoProMining Gold" will need more than 70 drivers. I would like to note that the work in GeoProMining Gold promises profitable and stable conditions for its employees, both financially and socially. All this is well known to the employees of the company "Aknadzor", in this connection we consider the anonymous statements of the alleged drivers, listed in the article, the order of the management of the company "Aknadzor" or journalistic fiction.

To note, all the figures quoted by the author of the article are untrue and are blatant lies. So, the amount of investment indicated in the article is significantly understated, and the author needs to understand the difference between revenue and profit. The company "GeoProMining Gold", working in the Republic of Armenia since 2007 for 10 years invested in the technological and technical development of production, and all this time, it incurred substantial financial losses, and only in 2016 began to make a profit.

"GeoProMining Gold" once again recalls its policy of social responsibility, in which the Company supports communities in the regions of its presence, including the city of Vardenis, both in terms of employment and various social projects aimed at supporting local residents, as well as development and improvement of communities. GeoProMining, founded in 2001, is an international private company with a diversified resource base of gold and other metals. GeoProMining enterprises are located in Russia and Armenia. In Armenia, GeoProMining owns shares of the Agarak Copper and Molybdenum Combine, the Sotk gold mine and the Ararat gold recovery plant. The company produces gold in the form of alloy "Dore" and copper, molybdenum and antimony concentrates.