After the processing works at the Tekhutskoye deposit resumes operation, Tekhut plans to increase employee number to 1 thousand people.
According to some sources, the deposit, pledged to the Bank VTB earlier this year, which has invested $380 million in it, has been transferred to the management of the Russian Copper Company.
The program to develop the Tekhut copper-molybdenum deposit was approved by the Armenian government in November 2007.
This is the second largest copper-molybdenum deposit in the country after Kadzharanskoye deposit.
In 1972 its reserves were confirmed on the level of 450 million tons of ore with the copper content of 1.6 million tons and molybdenum – 99 thousand tons.
Because of environmental issues the plant operation was suspended in February 2018. (Ukrainian metal)