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Time in Yerevan: 11:07,   29 March 2024

Zangezur Copper Molybdenum Combine CEO highlights creation of added value in mining sector

Zangezur Copper Molybdenum Combine CEO highlights creation of added value in mining sector

YEREVAN, MARCH 22, ARMENPRESS. Companies engaged in mining in Armenia as well as the government have still things to do in the direction of creating added value.

Director of the Zangezur Copper Molybdenum Combine Mher Poloskov assesses the dynamics of Armenia’s mining sector to be positive, but finds that there are still things to do.

In an interview to ARMENPRESS, Poloskov stressed he highlights the government’s and the public’s approach that added value must be formed in the mining field as well.

“In terms of molybdenum, if we look at the production, this added value is ensured, but in terms of copper no yet. Here both we and our partners operating in Armenia’s market have things to do, as well as the government of Armenia, in order to try and find common grounds and solutions”, he said.

He added that by highlighting Armenia’s mining sector and maintaining the development dynamics, they must understand this isn’t the only sector that must develop.

“We, as a part of the society, don’t only look at mining, but we also understand that overall the development of business must be diverse, which will provide the balance of the state’s development”, he said.

The CEO also said he positively assesses the government’s vision on the development of the mining sector. He said he has met with PM Karapetyan and discussed the prospects of progress.

“We see two important directions here. The first is maintaining and developing the dynamics of development for the benefit of the society’s forming field, and second is the strict stance regarding nature protection and other important issues. I think, this is a correct approach”, he said.

“Zangezur Copper Molybdenum Combine” Closed Joint Stock Company (ZCMC) is a leading Armenian mining company with headquarters in Kajaran, Armenia. ZCMC operates large, long-lived, assets with significant proven and probable reserves of molybdenum and copper.
The Company mines and processes the earth's mineral resources essential for making thousands of everyday products that meet society's needs and contribute to improved living standards. The largest in the region open pit mine extracts copper and molybdenum rich ore which is then processed to produce two separate concentrates.












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