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Volnort company has filed a formal complaint with the International Centre for Settlement of Investment Disputes (ICSID), accusing Armenia of illegally interfering in the internal corporate affairs of the Zangezur Copper-Molybdenum Combine (ZCMC), according to Aram Orbelian, managing partner at Concern Dialog Law Firm and a specialist in international law. According to Orbelian, “as a…
DetailsFitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Navoi Mining and Metallurgical Company (NMGK) at BB with a Stable Outlook. The company’s senior unsecured notes were also affirmed at BB, with a Recovery Rating of RR4. According to Fitch, the rating reflects NMGK’s scale as the world’s fourth-largest gold producer, with an…
DetailsA delegation from AzerGold CJSC paid working visits to the Turkish cities of Izmir and Canakkale, as well as to the capital of Kyrgyzstan, Bishkek. The visits were organized with the aim of strengthening ties with the fraternal Turkic states in the mining sector, expanding mutual investment potential, and exchanging technical expertise in the fields…
DetailsKubanychbek Ysabekov, Deputy Chairman of the State Tax Service, spoke about the taxes paid by gold mining companies. According to him, Kyrgyzstan profits not only from taxes but also from dividends and jobs. Kumtor paid over 10 billion soms in taxes in the first nine months of this year. “Tax revenues are expected to reach…
DetailsOn October 10, the Minister of Economy Gevorg Papoyan visited the Amulsar mining site to assess the ongoing project by Lydian Armenia, one of the country’s largest investment initiatives. He was joined by Vayots Dzor Governor Vahagn Arsenyan, Deputy Minister Edgar Zakaryan, and government representative Gnel Sanosyan, a board member of Lydian Armenia. Accompanied by…
DetailsBritish gold mining company Anglo Asian Mining (AAM) forecasts gold production in Azerbaijan in 2025 to be between 25,000 and 28,000 ounces. According to AAM, actual gold production in 2024 was 15,073 ounces. Therefore, this figure could increase 1.7 to 1.9-fold in 2025. The company’s copper production in Azerbaijan this year is projected to be…
DetailsUzbekistan plans to introduce an export duty on copper wire to encourage the production of higher value-added products. Davron Vakhabov, Chairman of the Chamber of Commerce and Industry, said that the country processed up to 200,000 tons of copper raw materials annually. The state currently provides domestic producers with a 4% discount on the market…
DetailsRussia has again attacked a DTEK factory in Donetsk region, which processes coal for thermal power plants. According to the company press service, during the attack all the employees were in a shelter. “This is the third large-scale attack on the factory over the month and a half. The machinery can no longer be operated.…
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