The shareholders of ZMKK - a subsidiary of "Geopromining-Armenia" and the government of Armenia, will build a new copper smelter in the country-ARKA.AM

The shareholders of ZMKK – a subsidiary of “Geopromining-Armenia” and the government of Armenia, will build a new copper smelter in the country-ARKA.AM

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The Industrial Company Joint Stock Company (100% subsidiary of Geopromining Armenia) and the Armenian government announce the transfer of 25% of the shares of the Zangezur Copper-Molybdenum Combine (ZCMC) to the Republic of Armenia, the press service of the Armenian government reported.

JSC “Industrial Company” on September 30, 2021 acquired 60% of the shares of ZMMK. And 25% of the shares transferred to the government of Armenia make up 15% of the total capital of ZMMK, which, therefore, passed into the possession of the Republic of Armenia.

Roman Trotsenko, member of the Board of Directors of GeoProMining, commenting on the deal, noted that the company has been operating in Armenia for many years, being a reliable partner for the Republic of Armenia and Armenians for almost two decades.

“We gladly took the opportunity to further expand our business in Armenia and acquire a controlling stake in ZMMC, while offering the state of Armenia a 15% stake,” he said.

Oct 4, 2021

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