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…
Roman Khudolin, General Director of the Zangezur Copper-Molybdenum Combine (ZCMC), stated at a mining forum that Armenia was facing a serious threat of depleting its mineral reserves. “As the head of the largest investor and mining giant, I’m concerned about Armenia’s mineral reserves. Until 2038, very few mining companies will remain active, and the rest…
There is no seismic risk recorded at the Artsvanik tailings dam operated by the Zangezur Copper-Molybdenum Combine (ZCMC), according to Ardzvin Tsatryan, acting head of the company’s environmental department. Tsatryan stated that monthly reports were compiled based on seismic sensors installed in different sections of the dam, recording underground tremors and their potential impact. In…
The Zangezur Copper Molybdenum Combine (ZCMC) is demanding 4.7 billion drams in compensation from eight former employees who participated in a strike from January 31 to February 10, claiming damages incurred due to their involvement. The civil lawsuit will be reviewed by the General Jurisdiction Court of Syunik Province. Data from the Datalex legal platform…
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…