The Armenian government approved on Thursday a tax break for a multimillion-dollar mining project in the northern Lori province that is fiercely opposed by local environment protection groups.
Vallex Group, a private firm, had asked the government to delay by three years collection of a 20 percent value-added tax (VAT) from 2.7 billion drams ($6.7 million) worth of imported industrial equipment which it plans to use for mining copper and uranium in the Teghut forest.
The government unanimously approved the request at a weekly cabinet meeting chaired by Prime Minister Tigran Sarkisian.
Armenian News
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