Revealed Real Owners of Metallic Mining Companies in Armenia – Part 6: Agarak CMC LLC

Revealed Real Owners of Metallic Mining Companies in Armenia – Part 6: Agarak CMC LLC

EcoLur

EcoLur continues to present declarations on the real owners of the companies operating the metal mines in Armenia, which were published within the framework of EITI on the website of State Register Agency of Legal Entities of RA Justice Ministry.

In this publication, we will cover the declaration submitted by Agarak Copper and Molybdenum Combine CJSC operating Agarak copper and molybdenum mine and combine in Syunik Region.

Russian Owners of Southern Mine in Armenia

"Agarak CMC" CJSC is one of the assets of Russian "GeoProMining" group, registered on May 12, 1995.

The first, second and third real owners of the company are the first three real owners of another company, Geopromining Gold LLC, which operates Sotq gold mine.
Two of them, like in case of GeoProMining Gold, dominate with their shares. Moreover, the share of shares and the period of acquisition are the same.
Thus, the first real owner is Russian businessman Siman Povarenkin who owns more than half of the company's shares, 50.3205%, which he acquired on September 29, 2010.

The second real owner is another Russian billionaire Roman Trotsenko, who owns 48.1863% shares in the company, which he obtained on March 27, 2019.

The third real owner is Roman Khudolin, General Director of GeoProMining Group, and there is no information about his share in the declaration.

In addition to the abovementioned, there are two other names in the declaration. Andrey Sinyakov, General Director of Agarak CMC CJSC, has been identified as the fourth real owner. Andrei Kishkinsky, who is Director in business planning, strategy and development at GeoProMining, has been identified as the fifth real owner. There is no information about the shares of the two of them in the declaration.

Thus, the real owner of about 1.5% of the shares of GeoProMining Gold and Agarak CMC remains unknown.

It should be noted that within the framework of the EITI, the company has no obligation to identify the owner with less than 10% shares.

Intermediary Companies of Russian Owners

The declaration mentions the intermediary companies of the first two identified real owners only.

For the first real owner, Siman Povarenkin, the intermediary companies are “Geiser Asset Holdings LTD (BVL)” in the UK, “Geopromining Investment (SIP) Limited” in Cyprus and “Carlow B.V.” in the Netherlands.

“Geopromining Investment (SIP) Limited” and “Carlow B.V.” are also acting as intermediary companies for the second real owner, Roman Trotsenko. Another company registered in Cyprus also acts as an intermediary for him, “Nakilep Overseas Limited (Cyprus)”.

17:17 May 22, 2020


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