Real owners of metal mines in Armenia to be revealed

18.6.2018 - YEREVAN

In 2020 society will learn the names of the real owners of the metal mines in Armenia. The executive has approved the “Action Plan Needed To Reveal the Real Owners of Metal Mining Companies in Armenia” which has been developed within the framework of introducing the EITI (Extractive Industries Transparency Initiative). With the adoption of the draft law, the action plan needed to reveal the real owners of metal mining companies in Armenia, developed by the EITI multi-stakeholder group, has received legal status.

An interdepartmental group will be established for the purpose of revealing the real owners of metal mining companies in Armenia with the involvement of the State Register Agency of Legal Entities of the Republic of Armenia (Ministry of Justice of the Republic of Armenia), Finance Ministry of the Republic of Armenia, Ministry of the Republic of Armenia for Energy Infrastructures and Natural Resources (including Soil Agency), and Nature Protection and Soil Inspection Body of the Nature Protection Ministry of the Republic of Armenia, with the consent of the Commission on the Ethics of High-Ranking Officials and Central Bank of the Republic of Armenia.

Legislative acts which will establish working standards will be developed, including establishing sanctions for not revealing the real owners to the state bodies. The online register of the real owners will be launched as a result of the implementation of the action plan. A part of the action plan will be implemented within the framework of a World Bank grant.

In Armenia, there are 22 metal mines in operation, according to official information.


This article was published in EnglishRussian and Armenian on the website of the local
informational NGO EcoLur and used by Arnika with author's authorization.

International activities