Swiss Ambassador to Armenia Lukas Gasser: Switzerland will try to contribute to a peaceful settlement of the Nagorno-Karabakh conflict without questioning the established formats such as the OSCE Minsk process
by Arthur Yernjakyan
PensionDenmark Fund will provide 350 million Danish Krones to Teghut CJSC for acquisition of manufacturing equipment, the company said in a press release. The funds will be provided through the State Agency of Demark.
The company highlights the positive results of the exploitation of the cooper and molybdenum mines and construction of a mining-and-processing works in Teghut in line with international standards. Before earmarking the above funds, representatives of PensionDenmark Fund and the State Agency of Denmark visited the areas of mining, monitored and studied the related documents and action plans.
Teghut CJSC was founded on 22 May 2006 by Vallex Group. 100% of its shares belong to Teghut Investments Ltd. (Cyprus), whose 100% preferred shares are owned by the Armenian Copper Programme belonging to Valery Mejlumyan. By its reserves, Teghut deposit holds the second place in the republic after the Kajaran copper and molybdenum deposit in Syunik. In 1991 the approved reserves amounted to 450 mln tons of ore, including 1.6 mln tons of copper (with 0.355% content), and 99 thsd tons of molybdenum (with 0.022% content).