ArmInfo. In Armenia, specific processes are underway to disclose the names of real owners of mining enterprises. Prime Minister Nikol Pashinyan announced on May 16 at a press conference dedicated to 100 facts about the new Armenia, answering a question from journalists. < We have not put off this issue. The process is ongoing and will be completed. There is no other alternative>, he stressed. In this regard, the Prime Minister recalled legislative changes, the entry into force of which obliged business entities to submit the names of real owners by February 20, 2020.
Pashinyan said that in general, the implementation of these processes is a new system in the mining industry, but not only for Armenia, but also for the whole world.
<But, frankly speaking, the names of the real owners, at least at the public level, are known. In addition, there are certain criminal cases that will result in answers to all questions>, he added. To recall, on March 9, 2017 in the capital of Colombia, Bogota, the application of Armenia for joining the EITI (Extractive Industries Transparency Initiatives) was approved. Thus, the republic became the 52nd country using the global EITI standard. This will lead to transparency in the mining sector and increased accountability to the public. These factors are essential in the context of improving the country's business environment. To note on the state balance sheet of mineral reserves as of the end of 2019, more than 670 solid mineral deposits with confirmed reserves, including 30 metal ones, are registered.
