EcoLur
Energy and Natural Resources Minister Yervand Zakharyan made a statement that the mining industry is facing hard times and invited the mining companies to have a meeting on 26 January to discuss how to help them to survive the crisis at the international market of metals. The press release disseminated by Energy and Natural Resources Ministry on 26 January particularly said, “…The Ministry particularly outlined the decrease in copper and molybdenum prices in the international market and added this situation, in fact causes concerns. Efforts should be combined to find a way out of this situation and to overcome difficulties together…If particularly to take into consideration that the mining sector secures several thousands of working places…” the press release says. The Minister proposed to make amendments to the legislation to mitigate difficulties for the mining companies and to provide financial aid to the companies.
Reminder: in reply to the concerns of the society, scholars, independent experts and economists about the current development of the mining sector, as in its current form, it can’t be a priority for economic and social development of Armenia, the government always replied that mining sector is the only way out to become competitive, as it’s the only sector where investments are made, this sector is expanded to get new working places, to fill the budget etc. And, suddenly, our “priority” has all the grounds to become lumber, to close working places, to close down the mining and to leave the country, as “profits are decreasing”.
A question arises, if we speak about the decrease in the profits of the mining companies, exactly which incomes are mentioned, as the incomes of the companies are concealed in the offshore zones. We consider it expedient to open the information about the incomes and owners of the following companies, which need the support of our budget, and consequently, our personal funds: “Zangezour Copper and Molybdenum Combine” CJSC, “Teghout” CJSC, “Sagamar” CJSC, “Ler Ex” LLC, “Golden Ore” LLC, “Akhtala Ore Processing Combine” CJSC, “Molybden Ashkharh” LLC, “Dundee Precious Metals Kapan” CJSC, “Mego Gold” LLC, “GeoPromining Gold” CJSC, “Multigroup Concern” LLC, “LV Gold Mining” LLC, “Vayq Gold” LLC, “Sipan 1” LLC, “Marjan Mining Company” LLC, “Armenian Copper Program” CJSC, “Tatstone” LLC, “At Metals” LLC, “Fortune Resources” LLC, “Paramount Golden Mining” CJSC, “Meghradzor Gold” LLC.
January 27, 2016 at 14:05