Newsfeed

Pope receives Armenian President

Nagorno-Karabakh welcomes referendum in Scotland

Cicek: Fair resolution of Nagorno-Karabakh conflict requires efforts by not only Azerbaijan but each person regarding himself as Turk

The Armenian Eye Care Project and Orange Foundation continue free eye care services in Syunik region, with over 1500 inhabitants benefitting from it

NKR foreign minister: Armenia's joining Eurasian Economic Union will not result in establishment of the customs point between Armenia and Karabakh

Hrant Margaryan: Change of Armenian Constitution to prevent attempts of establishment of anyone's personal power in Armenia

Ilham Aliyev again blames Armenia for non-constructive position

Ara Abrahamyan: Pan-Armenian Council will be set up to coordinate Armenian lobbyists' activities worldwide

Bako Sahakyan: Armenia-Artsakh-Diaspora trinity among cornerstones of independent Armenian statehood

Aram I: The Armenian state has numerous problems related to crimes, illegal phenomena and shortage of justice

Aram I: We should add the term "compensation" to "recognition and condemnation" when speaking of Armenian Genocide in Ottoman Turkey

Hovik Abrahamyan: Consolidation of Armenia, Artsakh and Diaspora will increase influence of the Armenian factor both in the region and in the world

President: Azerbaijan's demolition of Armenian cultural and historical monuments has not received appropriate response of international community

Serzh Sargsyan: There is no alternative to recognition and condemnation of Armenian Genocide

"Super 0 Daily" service is now available also for "Dialect" tariff plan subscribers

Beeline awards winners of What Does Fortuna Mean to Me? photo contest

Head of Kapan Meat Factory conditionally sentenced to three years in jail

Armenia among the countries that have achieved greatest success in reducing the total number of hungry people in proportion to their national population are

Seyran Ohanyan: I hope the incident that resulted in Armenian soldier's death will not remain unpunished

VTB Bank (Armenia) enlarges its partnership with Spayka

Ukraine’s Ambassador to Armenia: The next phase of development of the Ukraine-EU relations may be only Ukraine's EU membership

Armenian archaeologists promise to up-end concept of early humans' migration

Armen Martirosyan: Parliament's non-governmental 'troika' anticipating ARFD's return after 10 October

Hakob Andreasyan: Current reforms are as important as those conducted in privatization period

"SIP Talk"- calls to local and international destinations via fixed phone line at affordable tariffs

In 2015 Ameriabank intends to increase its corporate lending portfolio to 520 mln USD and retain leadership in Armenia's banking system

Anelik Bank issues Simple Fast Auto card loan

Hakob Andreasyan: We try to ring-fence farmers from untypical risks

Rustamyan: ARFD's refusal to take part in parliamentary opposition's rally does not mean refusal to cooperate with the forces

RPA members hold confidential meeting

ARFD 'throws up its cards' - it seems the parliamentary four is becoming a three

Heritage Party puts into circulation Armenian Parliament's Bill suggesting official recognition of Nagorno Karabakh Republic

Lydian International Limited plans initial $426 million investment in Amulsar gold project in Armenia in 2015-2016

Orogen Gold raised 1,125,000 pounds through the placing of 1,022,727,272 ordinary shares at LSE

Air France cancels its flights to Armenia due to a strike

Parcels from U.S. do not reach Armenia

Armenian and Polish Foreign Ministers hold political consultations

This year's Viktor Ambartsumian International Prize to be awarded in Yerevan Sept 17

Levon Zurabyan: By regularly changing its Constitution, Armenia is beginning to resemble "banana republics"

A member of the parliament from ARFD calls to listen to the viewpoint of the 124 year old party and take part in the constitutional reforms

2,000-year-old frescoes found in territory of Greater Armenia

Ruben Hakobyan voices the conditions in case of which Heritage party will support Constitutional reforms

Archeologists find an old tomb of a high-class man on the side of Mount Aragats

Seyran Ohanyan: The countersabotage systems set at the borders of Armenia and Karabakh

OSCE MG U.S. Co-Chair: A big window has emerged in the Karabakh peace process

Eduard Sharmazanov: World community must strongly condemn destruction of Armenian cultural and historical heritage in Turkey and Azerbaijan

President of Armenia promises with a problem of citizens deceived by Tonus company and respond in two days

Head of Armenian Parliament's Committee for State and Legal Affairs to present Karabakh frontier guards with night vision devices

Edward Sharmazanov: Anakara's inefficiency is a linchpin in the matter of ensuring security in Europe

Edward Sharmazanov: Azerbaijani provocations imperil stability of the entire Black Sea region

Exclusive

Ukraine’s Ambassador to Armenia: The next phase of development of the Ukraine-EU relations may be only Ukraine's EU membership

Hakob Andreasyan: Current reforms are as important as those conducted in privatization period

Hakob Andreasyan: We try to ring-fence farmers from untypical risks

Giorgi Gvimradze: Russia's fate hangs in the balance in Ukraine

In NK peace, it is necessary to pay attention to other processes in Scotland and Catalonia

Armenia’s ex Defense Minister: We have enough options to advance to the north of Azerbaijan

Ivan Kuhta: Difference of our political orientation will not affect Ukrainian-Armenian relations

Zardusht Alizadeh: Arriving in Sochi, Aliyev and Sargsyan once again demonstrated the world that Russia is still the demiurge in the Caucasus

Masis Mailyan: Unlike Azerbaijan, global centers of force are not interested in growing tensions in Nagorno-Karabakh conflict zone

Sergey Grinyayev:The West’s sanctions are extremely positive for the Eurasian Union project

Alexey Kolomiyets: West's sanction will hardly sober Putin and the Kremlin

Hrant Bagratyan: Sanctions will have tangible impact on Armenia

Georgi Kolarov: The second Nagorno-Karabakh war is inevitable

Artashes Shaboyan: Reduction in consumer demand has a negative effect on supermarkets

Tigran Davtyan: If you have a telephone with you, it means that you have a wallet with you too

Shmuel Meirom: Israel is willing to contribute of its experience in the field of economy, but it cannot force Israeli business to invest in Armenia

Zangezur Copper Molybdenum Combine has a new CEO

  • by Arthur Yernjakyan

  • Friday, June 27, 03:13

The largest mining enterprises in Armenia, Zangezur Copper Molybdenum Combine (ZCMC), has a new Chief Executive Officer - Neil Stevenson, who is the reprehensive of Cronimet Њining AG, the major shareholder of ZCMC, says the press release of the Cronimet Mining Office in Yerevan. 

The source says that the relevant decision was taken at the June 24 annual meeting of Zangezur Copper Molybdenum Combine in Yerevan. Stevenson has a huge experience in mining and he is also engaged in other mining projects of Cronimet. The shareholders decided to a set up a Board of Directors, which will be headed by Maxim Hakobyan, the former CEO. The meeting covered the results of the company's activities in 2013 and the development prospects. The shareholders qualified the ZCMC's activity over the past few years as positive and effective and praised the staff of the Combine. They also approved projects on technical expansion of the company and creation of new jobs, considered the further activity and outlined the key directions for further strategic development. 

Managing Director and Founder of Cronimet Mining Gunter Pilasky, CEO of Cronimet Mining Thomas Heil, ZCMC CEO Maxim Hakobyan and others attended the meeting.  

Zangezur Copper Molybdenum Combine CJSC is the largest mining enterprise in Armenia and exploits the Kajaran deposit, which is the richest in the CIS by its copper content. ZCMC was privatized for 132 mln USD on 14 December 2004. Afterwards, 60% of its shares passed into the ownership of Cronimet Mining (Germany), with the remaining 15%, 12.5% and 12.5% having gone to the Pure Iron Plant (Yerevan), Armenian Molybdenum Production CJSC and Zangezur Mining LLC, respectively. 
According to Cronimet Holding (headquarters in Karlsruhe, Germany), over the past few years the total investments in Zangezur Copper Molybdenum Combine CJSC amounted to over $500 mln. The investments have ensured failure-free operation of the enterprise. By its equipment and production capacities, the Combine is highly competitive with the best international companies today. ZCMC is a local economic mainstay and makes an invaluable contribution to Armenia's economy and creation of jobs. In 2013, Zangezur Copper Molybdenum Combine CJSC topped the list of the largest taxpayers of Armenia, having paid 37.8 bln AMD to the state budget. Cronimet Mining also owns 51% of "Pure Iron Plant" OJSC's shares and 51% of ELBAT CJSC, an automotive battery production plant.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields
Video of the day
Fire burning car in the yard

More

Classifieds

Help in searching for missing rare breed dog "malamute".

A. Shiboyan asked the Arminfo Editorial to help her in searching for her missing rare breed dog "malamute".