Zangezur Copper-Molybdenum Works continues heading the list of 1000 large taxpayers in Armenia, having retained the first place in January-September. According to the Committee on State Income, the company increased tax payments to the state budget by 59% YoY, to 83.6 billion drams. In particular, 1.7 billion drams accounted for tax duties, 26.6 billion drams…
As a result of January-September, Zangezur Copper-Molybdenum Works was the largest taxpayer in Armenia. In 9 months, the company transferred 129.2 billion drams ($318.4 million) to the state budget, up 3-fold YoY. Of these customs duties accounted for 1.4 billion drams, direct taxes – 39.2 billion drams, VAT – 2.4 billion drams and other taxes…
The government on January 5 transferred the rights of 15% of Zangezur Copper and Molybdenum Combine CJSC to the management of the Armenian National Interests Fund. Prime Minister Nikol Pashinyan said the state had a share in the Zangezur Combine and weighed in on criticism concerning possible corruption risks. “This deal seemed dubious to many,…
The Zangezur Copper and Molybdenum Combine (ZCMC) will transfer 3.75% more of its shares to the Armenian government. It was reported in early October that the government had agreed to accept as a gift 15% of ZCMC shares. GeoProMining Armenia, a subsidiary of the Russian company GeoProMining, was later revealed to be the new shareholder…
The government of Armenia has agreed to accept as a gift 25% of the shares of the Zangezur Copper-Molybdenum Combine, according to a document published online. The Office of the Prime Minister of Armenia will be managing the shares once the contract and state registration of property rights is completed within 10 days. The Zangezur…
Zangezur Copper-Molybdenum Works retained the leader position in the list of the major taxpayers having paid 29.5 billion drams in January-June, including 837.1 million drums of customs duties, 17 billion drams of direct taxes (income and profit tax), as well as 839.7 million drams of other taxes (VAT, excise tax, etc.). The 5 major taxpayers…
The reserves and ore content of the Kadzharan copper-molybdenum deposit have to be reevaluated. According to the Ministry of Environment, last time the reserves were evaluated in 2006. Zangezursky Copper-Molybdenum Works, which is developing the deposit, has not been keeping the annual registry of condition and movement of natural resources. In 2014-2017 the company was…
