In Jan-Sept 2014 Akhtala Ore Mining Company increased its ore output by 84.18% to 400,828 tons.
According to Armenia's Energy and Natural Resources Ministry, during the period the company's production grew by 27.76% to 5.5bln AMD, royalties grew by 44.51% to 150mln AMD.
In 2015 the company is planning to increase copper concentrate production to 1,400-1,600 tons against 1,200 tons in 2014.
In summer 2014 the company was bought by former CEO of Zangezur Copper-Molybdenum Combine Maxim Hakobyan. Earlier Akhtala belonged to Metal Prince LTD. That UK-based company was owned by American businessman of Armenian origin Serob Ter-Poghosian, sentenced to 15 years in jail for sexual harassment of minors.