ZCMC to resume operation after 10-day strike

ArmInfo. The employees of the Zangezur Copper and Molybdenum Combine (ZCMC), who have been on  strike since February 1 demanding a salary increase, will return to their workplaces tomorrow, February 11. This was reported by the Armenian service of Radio Liberty with reference to a member of the strike coordination council, Vahe Mkhitaryan.

No other details were given, it was only noted that, according to the council, Armen Khachatryan, a member of the ruling NA faction "Civil Contract", also took part in today's negotiations.

That since February 1, some of the ZMMC employees have announced a strike and are demanding a 50% salary increase. ZCMC CJSC assessed these demands as unrealistic, and the actions of the strikers as going beyond the Labor Code. Later, the ZCMC stated that changes in the terms of remuneration, medical insurance and improvement of working conditions would be implemented within the established time frame.

The company has been at the top of the list of 1000 largest taxpayers in Armenia for the third year in a row.  The company transferred about 102 billion drams to the state treasury in 2024 (with an annual growth of 44%), of which 2.2 billion drams were customs duties, 30.2 billion drams were direct taxes (including profit tax, income tax), 2.7 billion drams were indirect taxes (including VAT, excise tax).

Recall that in December last year, RA Prime Minister Nikol Pashinyan reported on his Facebook page that ZCMC transferred 33 billion 249 million drams to the state budget as government dividends.

"Please note that this is plus the taxes paid as a share of the  profit, because since 2021 the government is a shareholder of ZCMC, as I promised," the Prime Minister noted.

Zangezur Copper Molybdenum Combine CJSC (ZCMC) is the largest mining company in Armenia.

The plant operates the Kajaran copper-molybdenum deposit. The plant's ore supply is about 150 years.