Russian GeoProMining is not a shareholder of Zangezur Copper Molybdenum Combine CJSC: the company issues a statement

 Zangezur Copper Molybdenum Combine CJSC has released a statement according to which the Russian company GeoProMining LLC is not currently a shareholder of the Company and does not have any stake in the Company’s ownership structure.

“Zangezur Copper Molybdenum Combine Closed Joint Stock Company (hereinafter referred to as the “Company”), established and existing under the laws of the Republic of Armenia, declares that the Russian company GeoProMining LLC has never been and is not currently a shareholder of the Company, nor does it have any stake in the Company’s ownership structure.

“As of the date of this statement, neither the Company, its shareholders, nor its ultimate beneficial owners are included in any sanction lists issued by the relevant sanctions authorities, and no international sanctions are applicable to the Company,” the statement reads.

The current information regarding the ultimate beneficial owners of the Company is published on the official website of the State Register of Legal Entities of the Ministry of Justice of the Republic of Armenia at the following link.

The statement by Zangezur Copper Molybdenum Combine CJSC follows the publication of the periodical Hetq about the introduction by the U.S.  of a new package of anti-Russian sanctions on February 23, 2024. The Russian mining company GeoProMining LLC is also included in the sanctions package. The periodical claimed that the Armenian assets of the Russian GeoProMining group of companies are the Zangezur Copper Molybdenum Combine, the company GeoProMining Gold, which operates the Sotk gold mine and the Ararat gold recovery plant, as well as the Agarak copper-molybdenum combine.