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World Bank revises upward metal prices. Why is it important for Armenia?
... industrialized countries. Although Armenia is not among commodity-dependent countries, its economic growth is heavily dependent on commodity prices; more precisely, on international copper prices. World Bank experts have noted the importance of the mining sector for the country from the economic point of view, because it is one of the main sources of foreign investment, jobs, despite being faced with many challenges. Last week Prime Minister Karen Karapetyan and heads of relevant government agencies ...
02/21/2017Armenia achieves satisfactory progress in bringing transparency to mining industry
... satisfactory progress to Armenia, according to the official website of the EITI. It was reported that Armenia has made satisfactory progress in implementing the EITI Standard. The country has used the EITI as a platform for dialogue and a catalyst for mining sector reform. Since joining the EITI in 2017, the Government of Armenia has focused on bringing greater transparency and accountability to the mining sector. It has shown strong commitment to the EITI principles and the EITI Standard, to achieve ...
07/21/2020Azerbaijan's actions may lead to loss of 10-20% of Armenia's economic growth due to impact on mining industry
Azerbaijan's actions may lead to the loss of 10-20% of Armenia's economic growth due to the processes leaving a negative impact on the mining industry. Vardan Janyan, Head of the Union of Miners and Metallurgists and First Deputy CEO of Zangezur Copper and Molybdenum Combine, told ARKA news agency. YEREVAN, July 25. /ARKA/. Azerbaijan's actions may lead to the loss of 10-20% of Armenia's ...
07/25/2023Armenia’s mining sector needs to be advanced in environmentally and socially responsible manner, World Bank specialist says
... the Armenia Strategic Mineral Sector Sustainability Assessment, organized by the World Bank, according to a World Bank press release. The new Bank Assessment highlights the potential for economic growth fueled by the sector and the need for a national mining policy to maximize the sector's contribution to sustainable development. In the last five years, Armenia’s mining exports have amounted to approximately USD $500 million annually, making it the country’s top sector in terms of export and inflow ...
06/08/2016Robert Falletta appointed Kapan mine general manager
Robert Falletta has been appointed General Manager of Kapan Mine owned by the Deno Gold Mining Company. YEREVAN, February 13. /ARKA/. Robert Falletta has been appointed General Manager of Kapan Mine owned by the Deno Gold Mining Company. Falletta’s appointment testifies to the fact that the company intends to continue its investment ...
02/14/2008Mining industry's risks are manageable by government, companies and all stakeholders – Vardan Janyan
Speaking at a press conference on Monday, the Head of the Union of Miners and Metallurgists and First Deputy CEO of Zangezur Copper and Molybdenum Combine Vardan Janyan pointed out that billions of dollars have been invested in the mining and metallurgical industry of Armenia, in building of economic infrastructures and training of personnel. YEREVAN, July 25. /ARKA/. Speaking at a press conference on Monday, the Head of the Union of Miners and Metallurgists and First Deputy ...
07/25/2023Not by mining alone: how else one can earn on BYBIT cryptocurrency exchange
... cryptocurrency without buying it from an exchange, you have to mine it. YEREVAN, June 1. /ARKA/. Bitcoin was the first, and has set the initial rules of the game: if you want to obtain cryptocurrency without buying it from an exchange, you have to mine it. Mining is the production of cryptocurrency by connecting computer's processing power to the network. Today, the two biggest players in this market, Bitcoin and Ethereum, offer users to engage in mining of cryptocurrency and its subsequent resale in the ...
06/01/2022HSBC Bank Armenia is contributing to sustainable development of Armenia’s mining industry
HSBC Bank Armenia is contributing to sustainable and environmentally safe development of Armenia’s mining industry, the Chief Executive Officer of HSBC Bank Armenia Paul Edgar said today. YEREVAN, November 16. /ARKA/. HSBC Bank Armenia is contributing to sustainable and environmentally safe development of Armenia’s mining industry, the Chief ...
11/16/2016Mining can be successful investment and be of benefit to the Armenian people – US Ambassador
On Wednesday, the U.S. Embassy in Yerevan, in partnership with the Ministry of Economic Development and Investments, the Ministry of Energy and Natural Resources, and HSBC Bank, organized a one-day sustainable mining business conference. YEREVAN, November 16. /ARKA/. On Wednesday, the U.S. Embassy in Yerevan, in partnership with the Ministry of Economic Development and Investments, the Ministry of Energy and Natural Resources, and HSBC Bank, organized ...
11/16/2016Total cost of Armenia’s natural resources is about $120 billion, World Bank expert
... Sustainability of Mining in Armenia” seeking to mainstream and enhance the understanding of environmental and social sustainability principles in the development of Armenia’s mining sector. She said these figures are very important because Armenia trades its mining products at global markets. She said out of 65 licenses awarded for operation of mines 56 are for metal deposits and 5 for extraction of precious metals. She also cited the data of the nature protection ministry that there are 17 tailings occupying an area of 700 hectares, while according to the ...
06/04/2014Out of 13 mines in Armenia, only seven are in operation- industry executives
... that mine. Those companies, which performed their duties in good faith remained and are still in operation," said the deputy minister. He noted that those companies that are not actually operating or have not been active may be deprived of their license. According to the National Statistics Committee, the mining industry accounted for about 21% of the total industrial output in the first four months of 2023. The volume of the output decreased by 4% from the same months of 2022 to 155.3bln drams ($1 - 386, 71). -0-
06/28/2023Mining industry is attracting investments and technologies to Armenia – minister
Mining industry is attracting investments and technologies to Armenia, Suren Karayan, Armenian economic development and investments minister, said Wednesday at a one-day sustainable mining business conference organized by U.S. Embassy in Yerevan, in partnership ...
11/16/2016Armenia to develop long-term strategy for mining sector
The government of Armenia will work out a long-term strategy for the development of the mining sector, Davit Harutyunyan, the chief of government staff, told reporters during the launch of the Armenia Strategic Mineral Sector Sustainability Assessment, organized by the World Bank. YEREVAN, June 8. /ARKA/. The government of Armenia ...
06/08/2016Mining may provide about 2.6% of Armenia’s GDP in 2013 – projection
The share of mining industry in Armenia’s GDP, according to preliminary estimates, will be about 2.6% in 2013, Armenia’s minister of economy Vahram Avanesyan said. This is a reduction from 2.9% of GDP in 2012, he said. YEREVAN, March 25. /ARKA/. The share ...
03/25/2014US ambassador calls for dialogue between civil society and mining industry in Armenia
US ambassador to Armenia John Heffern urged Armenia’s civil activists to enter into dialogue with mining companies. YEREVAN, March 25. /ARKA/. US ambassador to Armenia John Heffern urged Armenia’s civil activists to enter into dialogue with mining companies. The international conference entitled “Responsible mining in Armenia – ...
03/25/2014Crushing and screening system in Sotk mine in Armenia operates in accordance with the legislation - “Geopromining Gold”
... of the mine development. According to the Armenian law “On the provision of (Concession) subsoil for study and industrial production aiming at exploitation of mineral resources” “then: the law “On Concession”), special license for mining gives the licensor an exclusive right for implementation of extraction of minerals, and LLC GeoProMining Gold has a license for Sotk mine. In particular, the licensor has a right of access to the site of the subsoil and implementation of all necessary ...
10/20/2011Armenian mining companies ask for government assistance, but economy ministry says there are no funds for it
The Armenian government can provide the same targeted support to the mining enterprises as it provides to IT companies that suffered from currency fluctuations, Chairman of the Union of Mining and Metallurgical Companies Vardan Janyan said on Tuesday. YEREVAN, June 21. /ARKA/. The Armenian government can provide the ...
06/21/2023GeoProMining expands cooperation between Armenian and Russian universities
The GeoProMining group of companies expands cooperation with the St. Petersburg Mining University named after Plekhanov. In addition to sending Armenian students to study at the university, the “Additional Qualification” program was launched this year to ...
07/12/2022Armenia’s mining industry grows 31 percent in four months
Armenia’s mining industry (including development of open-pit mines) saw a 30.9% rise in January-April 2015 from the year before amounting to 75.7 billion drams, according to the latest data from the National Statistical Service (NSS). YEREVAN, June 1. / ...
06/01/2015Continuation of stable operation of GeoProMining Gold will be the best response to allegations against the company
... without the appropriate licenses in 2004-2008, and bringing to responsibility the competent officials, responsible for monitoring of the situation, as well as his proposal, presented to the Government of Armenia to discuss termination of the operation licenses of GeoProMining Gold for operation of Sotk and Megradzor gold deposits? S. Nosoff - I have great respect for the Chairman of CC Mr. Zakaryan, and I am very sorry that he had to use unreliable sources of information. It is possible that someone very deliberately ...
11/24/2010Sberbank Capital may pay $40-45 mln for armenian mining company’s 49% stock – newspaper
... Paramount Gold Mining CJSC, registered in Armenia, disseminated a message that Sberbank Capital, a subsidiary of Russia’s Sberbank, is going to buy 49% stock of the gold mining company operating in Lusajur, Kotayq region of Armenia. Paramount Gold Mining received the license for for the gold deposit for 25 years in 2011. Armenian businessman Tigran Arzakantsyan owns 51% of shares. In 2013 the value of the equity stake may rise to $50 million as the company enters its active phase of operation, according to the source....
07/14/2012Ten main theses on state of Armenia's mining industry, voiced by head of Union of Miners and Metallurgists
The focus of a press conference called on Monday by Vardan Janyan, the Head of the Union of Miners and Metallurgists and First Deputy CEO of Zangezur Copper and Molybdenum Combine was on the situation in Armenia's mining industry reviewed from the point of view of environmental risk management in order to stave off speculations of Azerbaijani "environmentalists". YEREVAN, July 25. /ARKA/. The focus of a press conference called on Monday by Vardan ...
07/25/2023Armenian parliament expands the circle of persons who are considered to be "real owners" of mining enterprises
... parliament of Armenia has approved today in the second and final reading a package of amendments to the Law On Subsoil and related laws, which suggest, in particular, expansion of the circle of persons who are considered to be "real owners" of mining enterprises. YEREVAN, November 13. /ARKA/. The parliament of Armenia has approved today in the second and final reading a package of amendments to the Law On Subsoil and related laws, which suggest, in particular, expansion of the circle of ...
11/13/2019Aram Sargsyan thinks mining and metallurgy industries should be key locomotives of Armenian economy
Aram Sargsyan, leader of Republic party and a former prime minister, thinks that mining and metallurgy should become the industries propelling the development of Armenia's economy. He said Tuesday in an interview with Public Television that the country should produce as final as possible products - gold, copper etc. YEREVAN,...
08/28/2019Ilia Garkov appointed new chief executive officer of Deno Gold Mining company
Ilia Garkov was appointed new chief executive officer of Deno Gold Mining Company, the Armenian subsidiary of a Canada-based international Dundee Precious Metals company. YEREVAN, April 8. / ARKA /. Ilia Garkov was appointed new chief executive officer of Deno Gold Mining Company, the Armenian subsidiary of a Canada-based ...
04/08/2011Reserves of Shahumyan mine enough to create huge pit
The reserves of the Shahumyan-based gold polymetallic mine are enough to build a huge open pit, the Deno Gold Mining Company told ARKA referring to the results of exploratory drilling conducted in Armenia by the Dundee Precious Metals Corporation. YEREVAN, March 12. /ARKA/.The reserves of the Shahumyan-based gold polymetallic mine are enough to build a huge ...
03/14/2008Deno Gold Mining Company to invest $20 mln in exploration of Kapan Mine, Armenia
The Deno Gold Mining Company intends to invest $20mln in the exploration of the Kapan mine, Armenia, President of the Dundee Precious Metals Company Jonathan Goodman stated at his meeting with RA Prime Minister Serge Sargsyan. YEREVAN, November 28. /ARKA/. The Deno ...
11/29/2007Armenian ex-minister denies corruption allegations
... chairman of an Armenian parliament committee on economic issues and a former environment minister, denied yesterday allegations that he had demanded a $3 million bribe from U.S. Connecticut-based Global Gold Corporation company for not terminating its license for exploratory and mining operations at a gold deposit in Hankavan in central Armenia. YEREVAN, September 18. / ARKA /. Vartan Ayvazian, chairman of an Armenian parliament committee on economic issues and a former environment minister, denied yesterday allegations that ...
09/18/2012Armenian government, Global Gold Mining company to sign amicable agreement
... developing mines in Armenia, applied to the International Center this March for arbitration proceedings to be initiated against the RA Government. The company claimed that the RA Government was impeding its activities, denying the prolongation of a license for deposit development thereby violating the investment commitments between the USA and Armenia. Global Gold Mining was developing the Ankavan gold deposit, and was carrying out exploration work at the Getik ore deposit in the Gegharkunik region, Armenia. The company was also carrying out geological prospecting at the Marjan gold and metalliferous deposit in ...
09/29/2007Mining at Amulsar gold spring may begin in September-October 2025 - Minister
... of the remaining $250 million. The remaining $150 million will be financed by our financial institutions," Papoyan said at a press conference on Monday. He noted that construction work will begin in the spring. "In that case, we could start mining by September-October, which will be a significant boost for our economy and industry," the minister added. Earlier, Hayk Aloyan, CEO of Lydian Armenia (which holds the license to operate the Amulsar gold deposit), stated that 70-80% of the work required to start operating the mine has already been completed, and about $250 million is needed to finish it. According to him, Lydian Armenia plans to produce approximately ...
01/13/2025Azerbaijan uses all means of hybrid warfare to cause damage to Armenian mining industry
... Azerbaijani "environmentalists" sponsored at the highest state level on the most important branch of Armenia's economy is exposed by the fact that, accusing the same Kashen mine of certain environmental violations, Baku hastened to grant a license for its operation to the Anglo-Asian Mining Company registered in Azerbaijan," Janyan said. He said in retaliation the Tatoyan Foundation filed a class action suit against the Anglo-Asian Mining Company 's CEO Mohammad Reza Vaziri in the U.S. court. Regarding the regular shelling of ...
07/24/2023Armenia may become a center for running mines in third countries
The CEO of the Zangezur Copper-Molybdenum Combine Mher Poloskov told the Aravot daily about the latest changes in the combine's shareholder composition, its plans for an IPO and prospects for the development of the mining industry. YEREVAN, May 15. /ARKA/. The CEO of the Zangezur Copper-Molybdenum Combine Mher Poloskov told the Aravot daily about the latest changes in the combine's shareholder composition, its plans for an IPO and prospects for the development ...
05/15/2020"Real owner" concept to be widened in Armenia's mining industry
The National Assembly of Armenia passed Wednesday at the first reading a package of amendments to the law on entrails and related law. The amendments imply expansion of a list of persons who are considered real owners of mining companies. "As a result of discussions with all parties, we decided to widen " the real owner" concept in mining industry, and we propose to consider also all those involved in the administration as owners," said Deputy Territorial ...
10/23/2019Big crypto currency mining farm opens in Yerevan
One of the largest crypto currency mining farms opened Thursday in Yerevan. YEREVAN, October 19. /ARKA/. One of the largest crypto currency mining farms opened Thursday in Yerevan. This first in Armenia crypto currency mining farm has been established under cooperation of Armenia’s ...
10/19/2018Armenian government to take stock of mining sector
The government of Armenia will analyze and evaluate the efficiency of the mining sector, Minister of Energy Infrastructures and Natural Resources Arthur Grigoryan said at a government meeting on Thursday. YEREVAN, August 23. /ARKA/. The government of Armenia will analyze and evaluate the efficiency of the mining sector,...
08/23/2018Ecologists offer alternative to Yerevan mining conference guests
Environmental activists protesting against the conference entitled “Responsible Mining in Armenia” held today in Yerevan offer guests to participate in “Irresponsible Mining” conference instead, outside Armenia Mariott Hotel. YEREVAN, March 25. /ARKA/. Environmental activists protesting against the conference entitled ...
03/25/2014Yerevan to host major mining event in spring
... Tigran Sargsyan had a meeting today with head of the World Bank Yerevan Office Jean-Michel Happi, US, German and British ambassadors to Armenia to discuss a set of issues on holding a major international conference on sustainable development of the mining industry in Yerevan in spring. YEREVAN, February 14. / ARKA /. Armenian Prime Minister Tigran Sargsyan had a meeting today with head of the World Bank Yerevan Office Jean-Michel Happi, US, German and British ambassadors to Armenia to discuss ...
02/14/2014Canadian Dundee Precious Metals invested $150 million in Armenia in six years
Canadian company Dundee Precious Metals has invested around $155 million in Armenia over the last six years through its Armenian subsidiary Deno Gold Mining, according to Deno Gold Mining chief executive officer Hrach Jabrayan. YEREVAN, April 26. / ARKA /. Canadian company Dundee Precious Metals has invested around $155 million in Armenia over the last six years through its Armenian subsidiary Deno ...
04/26/2013President: mining industry one of strategic segments of Nagorno-Karabakh Republic’s economy
Mining industry is one of the youngest, but strategically important and promising segments of the Nagorno-Karabakh Republic’s economy, Nagorno-Karabakh President Bako Sahakyan said Monday at a session convened for summarizing the 2012 results and for ...
02/18/2013GeoProMining has prepared technical platform for Albion technology launch
GeoProMining, a diversified international mining group (GPM or the Company), said it has completed the technical upgrade of the Zod mine. YEREVAN, October 17. / ARKA /. GeoProMining, a diversified international mining group (GPM or the Company), said it ...
10/17/2012Armenian opposition party speaks in favor of nationalizing mining and metallurgical companies
A senior member of the opposition Armenian Revolutionary Federation (ARF) party spoke today in favor of nationalizing the country’s lucrative mining and metallurgical companies, saying the government must set up a large state-owned company to run the sect YEREVAN, May 10, /ARKA/. A senior member of the opposition Armenian Revolutionary Federation (ARF) party spoke today in favor of nationalizing ...
05/11/2011Armenia’s mining output to double in next 3 years, president Serzh Sargsyan says
Armenia’s mining output will double in the next 3 years, president Serzh Sargsyan told journalists today after a meeting with chief executives of the country’s largest mining and metallurgical companies. YEREVAN, April 27, /ARKA/. Armenia’s mining output ...
04/27/2011GPM GOLD company’s annual output may reach 1 million tons by 2013
... in 2010? Kozlov – The 2010 was a difficult year for our company in a sense that after closing the first quarter we appeared to have no base of raw materials and that was why we had to swiftly revise our annual plans and change the direction of mining operations. Due to these efforts we managed to reach a make-out level. The thing is that instead of 40-70% that were expected to be extracted from ores, we actually got only 30 to 38%. This had an adverse impact on the economy and showed again ...
03/10/2011Modernization of Agarak Copper-Molybdenum Combine will in 2012 reach the production volume of 3.5 million tons
... January the1st, and began to carry out the plan, and up to December met the main performance indicators. Truly, it is not easy, and there is no large over-fulfillment of the plan, but nevertheless we have implemented our plans. This applies to stripping, mining and processing, as well as production of metals. Thus, in 2010 the volume of production and processing amounted to 3 million tons of ore. Production of copper concentrate exceeded the 2009 indicator by 133 tons and amounted to 28,600 thousand ...
02/15/2011Metal mining enterprises to become buffer for crisis prevention
Owners of Armenia’s metal mining enterprises can become a financial buffer to weather the crisis, RA Prime Minister Tigran Sargsyan said told the Golos Armenii (Voice of Armenia). YEREVAN, December 16. /ARKA/. Owners of Armenia’s metal mining enterprises can become a financial ...
12/17/2008Deno Gold Mining company: investments in Armenian Kapan mine exploitation may reach $300 million
Investments in Armenian Kapan mine exploitation may reach $300 million. Deno Gold Mining company (DGMC) told ARKA News agency on Friday that Jonathan Goodman, the owner of Dundee Precious Metals company, the investmnets can reach the mentioed amount if th YEREVAN, March 25. /ARKA/. Investments in Armenian Kapan mine exploitation may ...
03/24/2008Requirements for obtaining mining license changed in Armenia
Requirements for obtaining a mining license are changed in Armenia, the press office of the energy infrastructures and natural resources ministry reported on Monday. YERЕVAN, August 8. /ARKA/. Requirements for obtaining a mining license are changed in Armenia, the press office of ...
08/08/2017Zangezur Copper Molybdenum Combine claims to increase annual ore production up to 22mln tons by 2016
... production up to 22 million tons per year by 2016, deputy general director of the plant Narek Hambaryan said at a discussion of mining sector problems with the minister of economy Karen Chshmarityan on Monday. Ore production output at the plant was 18.1 ... ... planned to be 18.7 million for 2014, the deputy general director said. Hambaryan said the company is planning to apply for a new license and raise its ore production to 20 million tons by the third quarter. If everything planned works out, then the 2016 beginning ...
11/18/2014Minister: Armenian-Russian mining company will not possibly be restricted by extraction of uranium
... established in September 2008 by the initiative of Armenia in the result of negotiations with Russian uranium holding “Atomredmetzoloto” which deals with the study of uranium mines in Armenia. "The company will possible apply for getting license not only for uranium mining but other minerals if it will be commercially interesting for them”, he said. “Armenian-Russian mining company” is established in September 2008 by the initiative of the Government of Armenia in the result of negotiations with ...
06/08/2011A total of 400 apartments will be raffled by an exceptional price as a result of the new cooperation between Ardshinbank CJSC and ML Mining
Ardshinbank CJSC and ML Mining company are raffling off 400 apartments in the premium complex "Avan Towers" at an exceptional price of 427,000 drams per square meter. YEREVAN, September 11. /ARKA/. Ardshinbank CJSC and ML Mining company are raffling off ...
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