Monday, 24 September

Mining Production Up; Teghout a Main Factor

Production in Armenia’s mining sector last month amounted to 20.4 billion AMD (US$42.8 million).

This amounts to a 39.5% increase when compared to the same month in 2014.

For the 1st quarter of this year sector production was valued at 75.7 billion AMD ($158.7 million), an increase of 30.9% over the same period in 2014.

Experts point to the launch of the Teghout copper-molybdenum mine in the northern Alaverdi region. It is being operated by Teghout CJSC, a subsidiary of Vallex Group.

This year the company has been ranked in the top 1,000 taxpayers in Armenia, paying 1.2 billion AMD ($2.5 million).

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Comments (1)
1. Anahid Shirinian-Orlando22:14 - 10 June, 2015
So, for $2.5 million a year, we destroy the ancient forest of Teghut, the Shenogh River with its tributaries, and the sustainability of the surrounding villages. No living organism, plant or human can survive for long in that pollution. How cheap is Life !!!
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