Revealed Real Owners of Metallic Mining Companies in Armenia – Part 13: "Molibdeni Ashkhar" LLC

Revealed Real Owners of Metallic Mining Companies in Armenia – Part 13:


EcoLur continues to present declarations on the real owners of the companies operating the metal mines in Armenia, which were published within the framework of EITI on the website of State Register Agency of Legal Entities of RA Justice Ministry.

In this publication, we will cover the declaration submitted by "Molibdeni Ashkhar" LLC having developed Dastakert copper and molybdenum mine in Syunik Region.

Russian Forbes Billionaires – Owners of "Molibdeni Ashkhar" LLC

"Molibdeni Ashkhar" LLC was registered on November 1, 2005. Out of international companies involved is Global Metals (Arm) Limite together with other company(ies). However, there is no information on the size of the company's participation in the declaration. It should be noted that Global Metals (Arm) Limited also has a participation in "Sagamar" CJSC, which operated Armanis gold mine in Lori Region. The declaration filed by ""Molibdeni Ashkhar" LLC reveals three real owners. Two of them own 100% stare in the company.

The first real owner is the director of the company Samvel Chobanyan, who is also General Director of "Sagamar" CJSC. There is no other information about his participation.

The second real owner is Dmitry Korzhev, a Russian citizen who owns 29.66% shares in the company, which he acquired on June 24, 2008. It is stated that he has a share in the chartered capital of the company together with the affiliated natural person/persons.

The third real owner is again Dmitry Troitsky, a Russian citizen. He owns the remaining 70.34% shares in the company, which he acquired on June 24, 2008.

Owners' Intermediary Companies

Global Metals (Arm) Limited operates as an intermediary company for Korzhev and Troitsky. By the way, the company is registered in Cyprus. Through this company 'Eulacon Limited', registered on the Isle of Man in the United Kingdom, also acts as an intermediary for Korzhev and Troitsky.

It should be noted that the information on working places of the two real owners, who own the entire package of the company's shares, is missing in the declaration. Examining their data on the Internet, we found that Korzhev and Troitsky have been business partners since the 1990s. In St. Petersburg, they co-founded 'Mega Auto Company dealing with car sale. They are also on the list of shareholders of O'KEY Company, Rich Metals Group, which is engaged in gold mining in Georgia. Both are Russian Forbes billionaires. In 2017, out of 200 richest Russian businessmen Korzhev was in the 180th rank, whereas Troitsky held the 184th place with the same US $550 million.

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June 02, 2020 at 10:14