The company 'Sagamar' plans to conduct geological studies in the western and southeastern parts of the Armanis mineral field in the Lori region from 2026 to 2029.
It is worth noting that 'Sagamar' has the right to exploit the gold-multimetallic deposit of Armanis, but has not operated the mine for 10 years.
The company's shareholders are two Russian businessmen: Dmitry Korzhev with a 29.66% stake and Dmitry Troitsky with a 70.34% stake.
The Armanis mineral field is located 1.6 km east of the town of Stepanavan, south of the villages of Armanis and Urasar. 'Sagamar' is applying for geological studies in the western and southeastern parts of the mineral field.
The northwestern section (towards Urasar) is located west of the open pit and processing plant of the Armanis gold deposit.
The southeastern section (towards Armanis) is located immediately southeast of the open pit, on the southern approaches to the village of Armanis.
No buildings or structures will be constructed on the site. The resources of the Armanis deposit will be utilized.
The project states that the requested areas are agricultural lands (pastures and hayfields).
Research of the land fund and landscape has shown that there are no dense forests in these areas, but there are areas classified as 'forest lands'.
It is planned that the proposed activities will result in the disturbance of 10,120 sq.m of plant cover, which will have direct and indirect effects on biodiversity.
Public hearings will take place on July 17, 2026.
