ArmInfo. The GeoPromining group of companies plans to invest about $15mln in the Agarak Copper-Molybdenum Combine (ACMC) during the next couple of years, Mr Belyaev, CEO, said at a meeting with Armenia's Premier Nikol Pashinyan.
"In the morning I first visited the Agarak copper and molybdenum combine and got acquainted with its activities and plans. I highlighted the importance of consistent steps to solve environmental problems and introduce modern technologies," Mr Pashinyan wrote on his Facebook account.
The head of the Armenian government asked the leadership of the AMMK about the environmental situation and the volume of water intake. Belyaev replied that the water metering system has not yet been digitized, but daily monitoring of water consumption and discharge is carried out, and data from flow meters is read.
In response, Pashinyan suggested digitizing the system, which, according to him, would not require large expenditures.
According to Belyaev, over the past 5 years, $25 million has been invested in the copper-molybdenum mine and processing plant, another $15 million will be invested in improving technologies this and next year. There is something to strive for in the investment program, Belyaev answered.
During his working visit to the Syunik region, the prime minister also met with farmers from the region, with whom he discussed issues related to irrigation water, road construction and gas supply.
The Agarak copper-molybdenum plant is included in the "Armenian" asset portfolio of GeoProMining. The GeoProMining group of companies (GeoProMining) has entered Armenia since 2007, with the acquisition of GPM Gold, which operates the Sotsk gold deposit and the Ararat gold recovery plant.
A total of 7,355 employees work at the Armenian enterprises of the GeoPromining group of companies: ZMMK, Agarak Copper-Molybdenum Plant, Armenian Molybdenum Production (AMP) and GeoProMining Gold Company. According to 2020-2021 data, ZMMK employs 4,450 people. According to the calculation of the coefficient of indirect jobs, ZIMK indirectly provides about 15 thousand jobs.
According to the State Revenue Committee, Agarak Copper-Molybdenum Combine CJSC closes the top five in the list of Armenia's largest taxpayers in 2022 (which occupied the 22nd position in 2021). The company's contributions to the state budget amounted to 19.6 billion drams (with an annual jump of almost 3 times), of which 117 million drams - for customs duties, 3 billion drams - for direct taxes, 693.6 million drams - for indirect taxes
