Real Owners of Metallic Mines To Be Revealed in Armenia

Real Owners of Metallic Mines To Be Revealed in Armenia


In 2020 society will learn the names of real owners of the metallic mines in Armenia. The executive has approved “Action Plan Needed To Reveal Real Owners of Metallic Mining Companies in Armenia”, which has been developed in the frames of introducing the EITI (Extractive Industries Transparency Initiative). With the adoption of the draft law the road map of the action plan needed to reveal the real owners of metallic mining companies in Armenia, which has been developed by the EITI multi-stakeholder group, has received legal status.

An interdepartmental group will be established for the purpose of revealing the real owners of metallic mining companies in Armenia with the involvement of State Register Agency of Legal Entities of the Republic of Armenia (Ministry of Justice of the Republic of Armenia), RA Finance Ministry, RA Ministry for Energy Infrastructures and Natural Resources (including Soil Agency), Nature Protection and Soil Inspection Body of RA Nature Protection Ministry, with the consent of Commission on Ethics of High-Ranking Officials and RA Central Bank. Legislative acts will be developed, which will establish working standards, including establishing sanctions for not revealing the real owners, delegation of responsibility among state bodies. The online register of real owners will be launched as a result of the implementation of the action plan. A part of the action plan will be implemented in the frames of the World Bank grant. It should be mentioned that Armenia has 22 metallic mines according to the official information.

14:21 April 09, 2018


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