Geoteam worked with experts from the International Finance Corporation, part of the World Bank Group (IFC) and the European Bank for Reconstruction and Development (EBRD), who visited the Amulsar Gold Project area last week to perform their annual review of the project development, the Company says in a press release.
A delegation of the South Caucasus Railway will attend the 61st meeting of the CIS Rail Transport Council to be held in Baku Oct 21-22. The press service of the company reports that their decision to attend the meeting has been approved by Armenia's transport and communication and foreign ministries.
Armenia must not cherish hopes that its membership to the Eurasian Economic Union will give it more investments, economist, Head of Alternative Research Center Tatul Manaseryan said at a forum on the prospects of Armenia's membership to the EEU on Friday.
Lydian International Limited plans to launch gold recovery from Amulsar Gold Deposit in the Southern Armenia in the first half of 2017, Lydian International Limited President and CEO Howard Stevenson said in a press briefing on 16 October.
With launch of the Amulsar Gold Project in Southern Armenia, Lydian International Limited will be able to change the 'bad reputation' of the mining industry in Armenia, Lydian International Limited President and CEO Howard Stevenson said in a press briefing in Yerevan on 16 October.
Cronimet Mining Company plans $200 million investments in the construction of mine tailings disposal facility at the Zangezour copper and molybdenum combine (ZCMC) in the south of Armenia
56% of the family business entities in Armenia are pessimistic about the business environment prospects in the country, according to the survey conducted by the Corporate Governance Center. The survey findings were presented on October 10 by Narine Melikyan, Director of the Corporate Governance Centre.
Development of the Amulsar gold-bearing deposit project will be launched at the beginning of 2015, Minister of Economy Karen Chshmarityan told reporters, Wednesday.
The "Mika cement" plant that has not been functioning since April of the current year, started production. It will produce 100 thsd tons of cement till the end of 2014, Director of the plant, Naira Martirosyan, told Arminfo correspondent.
"I see no reasons why Armenia should not consider Russia as a funding source", Ruben Vardanyan, a well-known Russian businessman of Armenian origin, said to ArmInfo when commenting on some experts' opinion about possible impact of the anti-Russian sanctions on Armenia.
Consolidation will shortly become inevitable for Armenian banks, Russian businessman of Armenian origin, member of the Board of Directors of Ameriabank Ruben Vardanyan said on Thursday, when asked what an impact the anti-Russian sanctions will have on Armenian banks.
The company's statement says that the company faces no threat of bankruptcy, has no accumulated debts and has not lost any planes. Two planes of Air Armenia are currently being modernized in Holland. Aircraft maintenance is a compulsory and planned measure, which is taken in line with the aircraft lease agreement.
Armenia's government has made temporary concessions to small and medium-sized business. Today the RA Government has decided to do changes in Turnover tax law: the law won't be empowered until February 2015.
Victoria Silver LLC seeks to recover 11 tons of gold from Martsiget gold-polymetallic deposit located in Lori region, Armenia. Gagik Khojayan, Director of Victoria Silver LLC said at public hearings in Lori, EcoLur reports.
On October 7, 10 rail cars got off the rails in Gegharkunik province in Shorzha-Vardenis section. The train was carrying gold ore. No casualties have been reported.
The Government of Armenia pays no proper attention to the fish farms of the republic, Artur Atoyan, Head of the Armenian Union of Fish Breeders, said at a press conference on Wednesday.
Air Armenia CJSC says it is operating all flight according to the flight schedule. It also operates freight services to destinations in Russia and European country.
"VIM-Avia" will open a new flight Yerevan-Moscow, Domodedovo airport, AVIA Shop. ru reported. The first flight on this route will be implemented on 17 October by Airbus A319.
Prime Minister of Armenia Hovik Abrahamyan has charged postponing inventory requirements for small business till 1 Feb 2015, the Government's press- service told ArmInfo.
To ensure economy development, today Armenia needs direct investments but not transfers, an expert of the European Business Association, Hovanes Igityan, said during today's discussions organized by "Civilitas" foundation in Yerevan.
Armenia's Prime Minister Hovik Abrahamyan is ready to support SMEs and to solve the problems caused by the amendments to the turnover tax law, President of the SME Union of Armenia Stepan Aslanyan said after a meeting with the Premier on Monday.
By adopting the new Law on Turnover Tax, the Armenian Government has actually toughened the tax administration of small and medium enterprises again, MP from the Prosperous Armenia Party (PAP) Faction Mikayel Melkumyan said at today's press conference. According to the law, the document control has become compulsory for these entities.
'Ozturkler Holding' becomes the first Turkish company to launch activity in Armenia. 'Ozturkler Holding' is engaged in housing construction.
Air Armenia is appointed as regular air carrier from Novosibirsk-Yerevan, RBC reported. According to the source, S7 Airlines is the only company making passenger transportation Novosibirsk- Yerevan-Novosibirsk. The Foreign Ministry of Armenia confirmed the appointment of Air Armenia CJSC with an appropriate note.
The South Caucasus Railway plays an important role in the field of communications, Nikoghayos Ter-Karapetyan, the guide of the Railway Museum of Armenia, has told ArmInfo's correspondent during the Yerevan-Gyumri excursion.
The Aygavan (Ararat province) and Armavir (Armavir province) branches purchased 100% of the targeted volume, which makes up over 33 thsd grapes. All the funds for the grapes have been transferred to the personal accounts of the viticulturists, the YBC press release says. The Berd branch (Tavush province) is still receiving the grapes. The branch will keep purchasing grapes till October 3. Here the company is going to purchase over 4 thsd tons and to ensure the index announced earlier.
Control Chamber of Armenia has detected a series of violations in gas supply to some unprivileged communities in the Syunik region. A local Chorrord Ishkhanutyun newspaper writes.
The European Heritage Days have already formed tradition in Armenia celebrating every year all over the country, which coordination is undertaken by Ministry of Culture of RA and South Caucasus Railway. This year it will be held on 27-28 September with the theme "Looking back 100 years after" and all the events which will be organized are dedicated to World War I 100th anniversary.
Eurasian Economic Union is a political project, the former chairman of Armenian Central Bank, Bagrat Asatryan, said at today's press-conference.
Armenia will be able to produce 12-14 tons of Dore gold in 2016-2017, Armenia's Economy Minister, Karen Chshmarityan, told journalists today. He also added that they will manage to gain such indices as a result of fulfillment of the programme on exploitation of Amuslar gold mine in the south of Armenia thanks to the investments of the "Lydian International" company. The minister said that they plan to attract significant funds in the mining industry, and Amuslar, that costs up to $500 million, is the biggest programme.
South Caucasus Railway CJSC train to resume service between Yerevan and Tbilisi on 2 October, the Company's press-service told ArmInfo. Tickets are available. The train will run on countable days at 9:30pm from Yerevan and will arrive back from on the uncountable days at 8:20pm. The travel time is 10 hours 20 minutes. In line with the SCR's tariff policy, the ticket prices were left unchanged comparing to last year: the cheapest ticket costs 8650 drams - for the upper in the open-plan carriage - and the most expensive one costs 18,190 drams - for a place in sleep carriages.