SRC: Armenia’s mining and metallurgy rapidly recovered after crisis

PanARMENIAN.Net - Chairman of the Armenian State Revenue Committee Gagik Khachatryan said that Armenia’s mining and metallurgy rather rapidly recovered after the crisis.

However, there are still problems that need to be addressed, Khachatryan said on April 27 after a meeting with participation of the Armenian President and heads of mining and metallurgical companies.

According to Khachatryan, the turnover of 12 companies operating in the field increased by AMD 85bln in 2010 compared to 2009. The share of the mining sector in Armenia’s industry totaled 17.7% in 2010.

The three-year program of tax and customs reforms adopted during a sitting of the National Security Council envisages large-scale works, while its first result is business entities’ work with tax bodies only in an electronic format.

According to Khachatryan, adoption of the new Code on Sub-Soil and bill on making amendments to the RA Law on Nature Protection and Ecological Fees will also facilitate the field development.

Armenian Minister of Economy Tigran Davtyan, Minister of Energy and Natural Resources Armen Movsisyan, Minister of Finance Vache Gabrielyan and heads of 12 companies, including Zangezur Copper-Molybdenum Combine, Deno Gold Mining, GeoPromining Gold, Armenian Copper Program and Armenian Molybdenum Production participated in the meeting.