Armenia to increase its stock in “Armenian-Russian Mine Company”
YEREVAN, August 15. /ARKA/. Armenia will replenish its capital in the Armenian-Russian Mine Company cjsc, minister of energy and natural resources Yervand Zakharyan said at a government meeting on Thursday.
The government made a decision to allow the ministry signing an agreement to increase the authorized stock in the ARMC.
The government share is to increase by 95,295,600 drams at the expense of the equities and a payment for geological prospecting is envisaged, Zakharyan said.
The ARMC was founded on a parity basis. Its authorized stock was 989.5 million drams as of January 1, 2014. The Russian investor said it wanted to invest an additional of almost 95.3 million drams for further development of the company.
Armenian-Russian Mining Company was established in September 2008, initiated by the government of Armenia, through negotiations with Russian Atomredmetzoloto for exploration of uranium mines in Armenia. The Russian side allocated 3 million dollars for exploration of uranium mines. ($1 – 411.32 drams). –0--