Zangezur Copper Molybdenum Combine Largest Mining Taxpayer - $839 Million

11:27, May 11, 2015

Only two mining companies – Zangezour Copper Molybdenum Combine (ZCMC) and Tegout – have made it to the top 20 list of taxpayers in Armenia for the 1st quarter of 2015.

In the 1st quarter of 2014 two others were included in the top 20 – Dundee Precious Metals Kapan and GeoPromMining Gold (GPM Gold).

According to a recently released Ministry of Finance list of the top 1,000 taxpers in Armenia, ZCMC was the largest mining company taxpayer, and the fourth largest overall – 4.036 billion AMD (US$839.1 million). In the same period last year, the company paid 1.445 billion AMD ($300.4 million).

ZCMC is owned by Cronimet Maining Ltd. (60%), Makour Yerkat Factory (15%), Armenian Molybdenum Production Ltd. (12.5%), and Zangezour Mining Ltd. (12.5%).  Read more... (363 words)

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