Another 6.875% of shares of Zangezur Combine handed over to government of Armenia

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Economy

24.08.2022, 13:12

Under an Armenian government’s decision adopted today, some 188,947 shares of the Zangezur Copper and Molybdenum Combine CJSC (6.875% of the total number of shares) will be handed over to the government, which will hand them over to the trust management of the Armenian National Interest Fund (ANIF).

Another 6.875% of shares of Zangezur Combine handed over to government of Armenia

YEREVAN, August 24. /ARKA/. Under an Armenian government’s decision adopted today, some 188,947 shares of the Zangezur Copper and Molybdenum Combine CJSC (6.875% of the total number of shares) will be handed over to the government, which will hand them over to the trust management of the Armenian National Interest Fund (ANIF).

In September 2021, the Russian Geopromining company acquired 60% of the Zangezur copper and molybdenum combine and donated 25% of the shares (15% of the equity) to the Armenian government.

The Zangezur Copper-Molybdenum Combine is one of the largest companies in Armenia, which topped for years the list of Armenia’s 1000 largest corporate taxpayers. The combine is located in the town of Kajaran, developing the Kajaran copper-molybdenum deposit.

According to experts, there is enough copper ore for the combine to develop the deposit for another 150 years. -0-

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