ANIF no longer to manage government's stake in Zangezur combine

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Economy

22.12.2022, 13:40

The Armenian National Interests Fund (ANIF) will no longer manage the government's stake in the Zangezur Copper and Molybdenum Combine (ZCMC).

ANIF no longer to manage government's stake in Zangezur combine

YEREVAN, December 22. /ARKA/. The Armenian National Interests Fund (ANIF) will no longer manage the government's stake in the Zangezur Copper and Molybdenum Combine (ZCMC).

ANIF said today according to the decision of the Armenian government, the management of the stake was handed over to the State Property Management Committee.

The Zangezur Copper-Molybdenum Combine is one of the largest companies in Armenia, which has topped for years the list of Armenia’s 1000 largest corporate taxpayers.

The combine is located in the town of Kajaran, developing the Kajaran copper-molybdenum deposit. According to experts, there is enough copper ore for the combine to develop the deposit for another 150 years. The shareholders of the plant are owned by the Industrial Company, which is a 100% subsidiary of GeoPromining Armenia and the Armenian government with 21.9% stake.-0-

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