Tuesday, June 16 2015 17:53

On June 15, a Chess Tournament in memory of late Armenian chess champion Karen Asrian started in Jermuk, the press office of Geoteam CJSC has told ArmInfo. 

Geoteam has been cooperating with the Chess Federation of Armenia in the organization of this tournament since 2011. The Tournament will be held for 10 days. It is an international Tournament where chess players, a total of 95 this year from Armenia, Georgia, Uzbekistan, Iran, Russia, Ukraine, and elsewhere will compete.  This is a rather prestigious tournament with the participation of grandmasters. In the recent years the interest towards the tournament has risen given the growing number of participants. The prize fund is roughly AMD 13 million, of which 3 million is contributed by Geoteam.   

Nara Ghazaryan, Social Projects Manager of Geoteam says: "We are glad for this opportunity to be part of the program of promoting this intellectual sport in Armenia, particularly among young children.  Promotion of sports and education is an integral  part of Geoteam's social projects for Amulsar surrounding communities. We support the Jermuk International Chess tournament after Karen Asryan, followed by another Youth tournament (June 25-July 5) in Jermuk. and we hope that Armenia will have many more champions, and maybe some of them are gaining their experience right now, through these events in Jermuk."  Since 2012 the Company has been supporting educational programs through infrastructure, art, culture and recreational programs.  Some of the examples include full renovation of Jermuk Art School & kindergarten; Summer camp & sport development programs in 4 communities; supporting Dance & Choir groups in Gndevaz, Saravan & Jermuk, etc. In the past few years, a total of around 200 children from Amulsar surrounding communities have been benefiting through these programs.   This summer, 30 children from Gorayk will spend a week in a picturesque Gugark Summer camp; additional eight teenagers from 4 communities  will be attending Wikimedia camp in Aghveran, where they will be learning article writing for Wikipedia and other intellectual activities.  

Corporate Social Responsibility for Geoteam is, first and foremost, responsibility in conducting its core business in line with industry best practice- having an environmentally and socially responsible, well managed operation.   The Company is also committed to extend and promote positive impact on nearby communities and wider areas, and believes that education is one of the fundaments of strong community.  

Geoteam CJSC is an Armenian mineral exploration and development company. Geoteam CJSC is a 100% owned subsidiary of Lydian International Limited. Geoteam CJSC, was incorporated in 2005 and after an extensive campaign of geological exploration in Armenia discovered what is now its flagship project; the Amulsar mountain. Amulsar is a new gold discovery, the first for over 20 years in Armenia. Geoteam CJSC is carrying out geological exploration in the Amulsar area of RA Vayots Dzor Marz, under a Prospecting License, granted in 2006 by RA Ministry of Nature Protection.  The key shareholders of the Lydian are IFC, EBRD and Newmont Mining Corporation.