Metallic Mining Companies To Submit Declarations on Real Owners

For the first time this year, metal ore mining companies will have to file a declaration about their real owners. The process will be carried out in accordance with the legislative package aimed at identifying the real owners of metal ore mining organizations adopted by RA National Assembly.

Procedure and timetable for filing a declaration on metallic mining companies with real owners, scope of information required, forms for filling out the application were submitted to Ministry of Territorial Administration and Infrastructure of the Republic of Armenia on January 29, 2020. It should be noted that the process of identifying the real owners of metal mining companies has been developed in the framework of the Extractive Industries Transparency Initiative (EITI). It obliges companies to declare only the data of owners who have at least 10% share.