Two Percent of Royalties Paid by Soil Managers To Be Provided to Affected Residential Areas in 2024

Two Percent of Royalties Paid by Soil Managers To Be Provided to Affected Residential Areas in 2024

Settlements affected by mining will receive 2% of the royalties paid by soil managers starting January 1, 2024, as EcoLur was informed about this by the Ministry of Territorial Management and Infrastructure.

According to the legislative amendment, the deduction from the royalty should be distributed between the affected communities of the mining company's mine and the affected communities of the mines operated by other mining companies paying royalties in Armenia in a ratio of 50/50.

Decision N 1370 of RA Government, dated on September 1 2022 lays down the directions of the measures provided by the community deductions spending program, which are as follows:

 1) agriculture

2) education and science

3) healthcare

4) social security

5) culture, sports and youth employment

 6) urban planning

7) water supply and drainage

8) transport and road construction

9) tourism.

February 08, 2023 at 14:57