On August 12 of this year, the executive approved the draft legislative package on contributing 2% of the royalties paid by soil managers to affected communities. Under the legislative amendment, the royalty deduction should be distributed in 50/50 ratio between the affected communities of the mining company mine and the affected communities of other mining companies paying royalties in Armenia.
RA Minister of Territorial Administration and Infrastructure Gnel Sanosyan said, "The proposed reform will introduce the concept of fair redistribution of revenues from mining sector. The draft proposes to direct 2% of the amounts paid to the state budget by royalty payers in the mining sector to the affected communities. It is not about the new 2%, but about the deduction from the already paid 2%. The draft law was also discussed by various civil society organizations and got approval."
"Within the limits of last year's regulations, we are talking about about 700 million AMD. Given that we are in the process of reviewing the royalty system in general, given that metal prices are projected to continue rising, that amount is not even small compared to last year's standards. Communities can use their money to expand their subsidy opportunities. We are talking about 23 communities," RA Prime Minister Nikol Pashinyan said.
August 12, 2021 at 15:19