By the decision of RA Prime Minister, a working group has been set up to study the research report of Bulgarian “GeoTekhMin” Company on the sustainability of Teghut tailing dump dam. Gegham Shakhbazyan, Head of RA Urban Development, Technical and Fire Safety Inspection Body, has been appointed as head of the working group with 16 members.
Reminder: Vallex Group has stopped operating Teghut tailing dump based on the results of research conducted by Global Resource Engineering registered in Denver, Colorado, USA and Australian “ATC Williams” Company. Vallex even planned to build a new tailing dump to operate the mine.
However, due to the inability to repay the $ 380 million loan, “Teghut” CJSC of Vallex Group, the second largest company developing copper and molybdenum mine in Armenia, was transferred to Russia's VTB Bank. The new owners of the company claimed that the operation of the tailing dump is safe. At the end of 2019, RA Deputy Prime Minister Tigran Avinyan announced in the RA National Assembly, "Teghut CJSC has been offered to conduct new research on the stability of the dam, and the Bulgarian company is currently conducting new studies on the safety of the dam. I guess by the end of the year, or the beginning of next year, we will have the final information.”
14:22 May 11, 2020