MLMining LTD was released from payment of import customs duties

ArmInfo. MLMining Ltd was released from payment of import tax duties of technique equipments, their components, raw materials and materials worth 243 million AMD.

The decision on this was approved at a meeting of the Armenian government on August 24. Armenian Deputy Minister of Economic Development and Investments Tigran Khachatryan stated that the total budget of the investment program in the field of mining industry is 530 million AMD, of which 250 million drams have already been realized. Within the program, it is envisaged to create 15 jobs with an average salary of 150 thousand AMD. The volume of production is estimated annually up to 100 million AMD, of which 85 million AMD production will be realized in Armenia, the rest will be exported to the countries of the EEU.

To note, volume of industrial production in Armenia in the first half of 2017 to the same period of the previous year increased by 12.4% (against growth of 8.9% a year ago), making 760.4 billion AMD ($ 1.5 billion). According to the National Statistical Service of Armenia, the acceleration of the upward trend caused the growth of the mining sector and the manufacturing sector. In the first half of 2017. To the same period in 2016 in the mining industry and the development of open pits registered an increase of 8.9% (versus 18.8% growth a year ago), with the volume at the level of 155.7 billion AMD. Only in June the mining sector showed a volume of 25.2 billion AMD with an annual decline of 10.3% (instead of growth of 3.5% in June 2016). The volume of manufacturing industry increased by 17.5% per annum in the first half of the year (against growth of 5.1% a year ago) to 462.8 billion AMD, of which 90.7 billion AMD fell in June, with an annual decline of 1.3% ( versus 17.7% growth a year ago).