We Are Assured Teghout Mine To Be Reopened: Nikol Pashinyan

We Are Assured Teghout Mine To Be Reopened: Nikol Pashinyan


'There are active processes related to Teghout mine and those people who are involved in these processes assure us that we will reach success in this sector very soon and fast, i.e. the mine will be reopened,' Armenian PM Nikol Pashinyan said in his speech at RA National Assembly on 27 March.

The Armenian Prime Minister was presenting to the MPs the progress and results of the implementation of the governmental program: Pashinyan covered Teghout mine when speaking about the dynamics of the industry.

'The volume of industrial products have increased by 1.9 percent in January-February: this is despite the decrease in industrial products by 1.1 percent in January. Due to the increase in 4.7 percent recorded in February, the total of two months made up 1.9 percent, which happened under these important conditions. I would like to remind that unlike last year, for example, Teghout mine, which statistically ensured a high percentage of the industrial increase, is not operating for a long time, about a year,' Nikol Pashinyan said.

Reminder: For the purpose of re-operating Teghout mine, the Armenian Government is running negotiations with 'Russian Copper Company', where the VTB Bank was involved as an investor, where Teghout assets are pledged. The negotiations are being run by Russian businessman of Armenian origin Norayr Petrosyan, who is the representative of this company, according to Deputy Prime Minister Tigran Avinyan. Nevertheless, still, there is no result: the Armenian side is claiming that the Russian VTB Bank and the Russian investor can't start the re-operation of Teghout mine because of hindering court proceedings. In its turn, 'Vallex' Group has disseminated a press release which contradicts the MP and says that Vallex Company has no connection with the claims and doesn't demand any money from 'Teghout' CJSC.

It should be mentioned that upon the initiative of 'EcoLur' Informational NGO, on 11 March 2019 Public Environmental Court tried 'Consequences of Teghout Copper and Molybdenum Mining' case and ruled to recognize the violations committed within Teghout project as a crime against nature, humanity, and state.

March 27, 2019 at 17:38