The Zangezur Copper-Molybdenum Combine CJSC has announced the launch of the prequalification process for selecting providers of health insurance services for its employees. To participate, insurance service providers must submit a brief statement confirming at least five years of experience in the health insurance market. The application also requires documentation on the number of post-graduate…
The Zangezur Copper-Molybdenum Combine (ZCMC) has released an official statement announcing that the company’s salary fund will increase by an average of 20%. The statement emphasizes that ZCMC’s management, acting as a guarantor for its employees, assumes the relevant commitments and assures that the changes will be implemented within the established timeframe. “The development of…
The Zangezur Copper-Molybdenum Combine (ZCMC) has suffered daily losses of around 400 million drams due to actions carried out for nearly a week by a group of employees and individuals unrelated to the company. Meanwhile, the state has incurred losses of over 100 million drams per day in tax revenue. “Thousands of company employees have…
The Republican Union of Employers of Armenia, emphasizing workers’ rights and their ability to voice grievances, has issued a statement expressing concern over an unauthorized strike organized by a group of employees at Zangezur Copper-Molybdenum Combine (ZCMC). According to the Union, this action contradicts Article 74 of Armenia’s labor code, disrupting the normal operations of…
The Zangezur Copper-Molybdenum Combine (ZCMC), where some employees have gone on strike, has published salary figures for its workforce. According to the company’s statement, in September 2024, ZCMC initiated a salary review process aimed at introducing institutional wage principles, eliminating social inequalities and ensuring a transparent pay system based on industry standards and objective criteria.…
Armenia’s state budget has, for the first time, received a 33-billion dram dividend from the Zangezur Copper-Molybdenum Combine (ZCMC), Prime Minister Nikol Pashinyan has announced during a press conference. He noted that since 2021, the Armenian government – meaning the people – had been a shareholder in ZCMC, with its stake valued at several tens…
The government of Armenia intends to place its shares of Zangezur Copper-Molybdenum Combine (21.875%) on stock exchange by holding an IPO. According to the Prime Minister Niikol Pashinyan, last week the company paid 33.249 billion drams to the state budget as dividends. This doesn’t include company taxes. In January-November, ZCMC paid 73.8 billion drams of…
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…
