Armenia Mining News

Chaarat Gold buys Armenian mine from Russia’s Polymetal for $55m

Deal is part of Chaarat’s intention of becoming a major regional player in Central Asia, with an annual production of 1 million ounces, which aims to reach through acquisitions.

Chaarat Gold says Centerra refused C$2B offer for firm, not just Kumtor

The gold miner has given up on Kumtor and decided to focus its efforts on completing a deal for Armenia-based Kapan Mining instead

Armenian gold mine starts construction next month

Shovels in April will start turning on a new gold mine in Armenia, says the managing director of Geoteam, the company behind the Amulsar gold project in southern Armenia.

Lydian shares pop after Armenia's $100m gift

Lydian International stock up after saying changes to Armenian legislation could save it $100 million in operating costs at its 2.1moz Amulsar project.

Russian miner want to triple output at Armenia's largest gold mines

A Russian company exploiting Armenia's largest gold mines has reported a sharp rise in output last year and pledged to raise production levels further after modernizing its gold smelter in the southern town of Ararat.

This German copper-moly miner gives a dram – 15 billion to be exact

Radio Free Europe reports an increase in world prices for base metals has made a 60-year old German-owned mining company the largest corporate taxpayer in Armenia. Data from the positively Soviet-sound State Revenue Committee released on Tuesday show the Zangezur Copper and Molybdenum Combine paying more than 15 billion drams ($41 million) in various taxes and duties in the first half of this year, compared to just 5.5 billion drams the same period last year.

Caldera Resources accuses Global Gold Corp of illegal methods in fight for Marjan mining

Caldera Resources has filed a complaint with the American Arbitration Association against Global Gold Corporation who unilaterally and illegally terminated the JVA between the parties.

Fortune Oil increases investment in Armenian iron ore mines

Fortune Oil has increased its investment in Armenian iron ore mines after amending an option agreement. In January, Fortune took a 35% equity interest in Bounty Resource Armenia, a company which controls three iron ore mines in Armenia, for $24m with an option to increase this holding to 50% for an additional investment of $16m. The option exercise consideration of $16 million will be financed from the company's existing cash reserves.