On July 14, at 6 pm, Teghout CJSC will hold a meeting with public representatives interested in the project on development of the Teghout copper-molybdenum deposit. The meeting will not be private and it will be held at the Culture House of Shnogh village (Lori province).
The press office of the company has told ArmInfo that the heads and employees of rural administrations, the residents of the adjacent communities and the employees of the company, specialists, representatives of international and Armenians NGOs, environmental structures, as well as representatives of the Armenian Apostolic Church, public activists, media representatives and other parties concerned are invited to take part in the meeting.
The source says that the head office of the company at 19, Khanjyan Street, Yerevan, as well as its branches in Lori province - in Alaverdi and Teghout village, as well as in the rural administrations of Teghout and Shnogh - will open journals from June 30 till July 30, in which the parties concerned can leave their comments and wishes regarding the meeting agenda. It is also possible to send the comments and remarks to [email protected].
Teghout 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). The program to develop the mine was approved by the Armenian Government in Nov 2007. At the initial stage, the operator company, Teghout CJSC, will extract some 7mln tons of ore. During the first 10 years, the average output will be 64 tons of 31% copper concentrate and 760 tons of 50% molybdenum concentrate. At the initial stage Teghout will receive $350mln in investments.
President of Vallex Group Valery Mejlumyan told journalists that Teghut also has a project to plant 714 ha of woods instead of 375 ha to be cut for the mine. "The company also gives top priority to protecting the cultural-historical monuments situated in the nearby areas," Mejlumyan said.