ZCMC paid more taxes under current government - Armenia`s premier 

ArmInfo.  About $1 billion has been returned to the Republic of Armenia in the issue of the Zangezur Copper and Molybdenum Combine (ZCMC) alone, Armenian Prime Minister Nikol Pashinyan said from the rostrum of the parliament on April 15.

, - Pashinyan noted, speaking about  the return of looted funds to the budget of Armenia.

But that's not all, he continued. In 2018-2024, the Combine, compared  to the previous seven-year period, i.e. from 2011-2017, began to pay  twice as much in taxes. And in 2024, ZCMC paid 33 billion 249 million  drams to the state budget of Armenia as dividends. "Isn't this a  return of what was stolen?" Pashinyan asks. 

"That is, as a result of our patient, consistent actions, only in the  ZCMC part, we returned property and an amount of more than $1 billion  to the state," the prime minister noted. 

The Zangezur Copper Molybdenum Combine CJSC is the largest mining  company in Armenia. The combine operates the Kajaran  copper-molybdenum deposit. The combine's ore supply is about 150  years.  The combine produces molybdenum and copper concentrates.  Molybdenum concentrate contains 50% molybdenum, the copper content in  copper concentrate is not less than 15%. The enterprise's production  volume is about 22 million tons of ore per year. ZCMC's share in  global molybdenum production is about 3.8%.