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08/10/2024
Mining News

Breaches of contractual obligations totaling $1.2 million by 127 companies found in Armenia’s mining industry

Breaches of contractual obligations totaling AMD 573 million ($1.2 million) by 127 companies have been found as part of the comprehensive analysis in Armenia’s mining industry, Garegin Baghramyan, the acting energy infrastructures and natural resources minister, said Wednesday at a news conference.

In his words, AMD 134 million (around $275,700) of the mentioned amount is already transferred to the government budget, 23 companies have received warnings and five companies ceased operating because of failing to comply with the rules of mining.

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Earlier, the press office of the prosecutor general’s office reported that AMD 300 million (around $616,000) of the total amount of the AMD 963 million ($2 million) the mining companies owe Armenia’s government and communities had been obtained.

Source: arka.am