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RA Deputy Prime Minister made a statement on the project of the construction of a copper smelting plant presented by the Armenian Copper Program CJSC

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19.07.2018
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"Armenian Copper Program" CJSC (ACP) presented to the RA government a new program for the construction of a copper smelter, which according to the project will become one of the largest plants in the region.

As the press service of the government reports, RA Deputy Prime  Minister Tigran Avinyan noted that taking into account the existing serious problems in the nature protection sphere of Armenia and the previously voiced position of the government, the program will be considered after clarification of two key issues.

On the first place in the statement of the vice-premier, there is a  question on whether the company can, in reality, based on the best international experience, minimize the impact on the environment and ensure the export of industrial wastes from Armenia or start the production of waste processing. At the same time, T.  Avinyan added:  "Will the field, without abuse during its operation, provide the  plant with the necessary amount of raw materials."

According to the source, a working group has been formed to receive replies and to evaluate the program, the results of which will be published additionally.

Vallex Group (Vallex Group) was established in 1998 and unites 20  subsidiaries and affiliated companies.  Among them, Teghout CJSC,  founded in May 2006, owns 100% of the shares of CJSC Teghout  Envestments Limited, of which 100% of voting shares are owned by  Armenian Copper Program CJSC, owned entirely by Valery Mejlumyan, the  president of the group, and CJSC "Base Metals", which operates a  copper-gold deposit in the village of Drmbon in the Martakert region  of the Artsakh, CJSC Armenian Copper Program (ACP), which operates  the Alaverdi copper smelter, which produces blister copper. The program on the exploitation of the Teghout copper-molybdenum deposit was approved by the Armenian government in November 2007. By reserves,  the Teghout deposit is the second in the republic after the Qajaran copper and molybdenum deposit in Syunik. Back in 1972, large-scale geological exploration work was carried out here, which confirmed the reserves of 450 million tons of ore containing 1.6 million tons of copper and 99,000 tons of molybdenum. At the same time, the largest  Teghout project due to environmental problems at the end of last year was suspended. The exploitation of the field can be continued only after solving a number of technical and environmental problems,  because of which the company, in fact, lost credit support.

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