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Kristine Aghalaryan

VaykGold LLC Takes Ministry to Court Over Mining Permit Termination

VaykGold LLC has taken the Ministry of Territorial Governance and Infrastructures to court over a decision the ministry issued in December to terminate a mining permit for the company.

In 2012, VaykGold was issued a 25-year permit to exploit the Azatek gold-polymetallic mine in Armenia’s Vayots Dzor province.

Armen Movsisyan served as Minister of Energy at the time. Under his successor, Yervand Zakharyan, an amendment was introduced to change the start date of the permit to 2015. The company thus was given the right to exploit the mine until 2040.

VaykGold LLC was founded by former Minister of Nature Protection Vardan Ayvazyan

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