ZCMC paid AMD 33.249bln to Armenia`s state budget

ArmInfo.A few days ago, the Zangezur Copper and Molybdenum Combine (ZCMC) paid 33 billion 249 million drams to the state budget as dividends to the Armenian government. RA Prime Minister Nikol Pashinyan wrote about this on his Facebook page.

<A few days ago, the Zangezur Copper and Molybdenum Combine paid 33  billion 249 million drams to the state budget as dividends to the  government, that is, the people.

Please note that this is in addition to the taxes paid, as a share of  the profit, since since 2021, as I promised, the government is the  shareholder of ZCMC>, the Prime Minister wrote. Let us recall that on  December 10, as part of the campaign to <return illegally acquired  property> I promised <in the near future I will present a list of  real estate objects bit by bit> that have already been returned to  the state."

Zangezur Copper Molybdenum Combine CJSC (ZMMC) is the largest mining  company in Armenia. In 2023, the company topped the list of the  country's largest taxpayers. The plant operates the Kajaran copper-  molybdenum deposit. The plant's ore supply is about 150 years. The  plant produces molybdenum and copper concentrates. Molybdenum  concentrate contains 50% molybdenum, the copper content in copper  concentrate is not less than 15%. 

According to data for January-September 2024, the Plant continues to  top the list of 1000 large taxpayers of Armenia (as in the previous  year). During the reporting period, the enterprise increased tax  payments to the state treasury by 59%, providing a volume of 83.6  billion drams. Of this amount, 1.7 billion was paid in customs  duties, 26.6 billion in direct taxes (including profit tax, income  tax), and over 2 billion in indirect taxes (including VAT, excise  tax). Earlier, Industrial Company JSC acquired 60% of ZMMC shares and  on September 30, 2021, donated 25% of its share to the government of  Armenia. On March 24, 2022, the government received another 6.875% of  the shares as a gift, thus becoming the owner of 21.875% of the  shares or 1/5 of the share in the plant.