2006 — Founding of “Teghout” CJSC

“Teghout” CJSC was established to develop the Teghout Deposit in the Lori region – the second largest copper and molybdenum Deposit in the Republic of Armenia.

Copper-molybdenum ore reserves at the Deposit are estimated at 450 million tons, the approved reserves of Molybdenum at the Deposit are about 100 thousand tons, copper — 1.6 million tons.

2006 — 2013 — Major engineering and building work of the Teghout Mining and Processing Plant

For the construction of the Teghout Mining and Processing Plant the allotment of a land plot with a total area of more than 700 hectares was issued, including 357 hectares forest area.

During the construction, more than 140 objects were erected, the main of which are•

• Large Crushing Section;
• Flotation Enrichment Section;
• Tailings facilities, including a tailings dump, tailings pipeline, drainage facilities, production water systems and pumping stations;
• Mining Plant
• Mining and conveyor Equipment Section;
• Infrastructure facilities (Administrative buildings, water and draining treatment Plant, Pumping stations) and other facilities.

2014 — commissioning of the “Teghout” CJSC Mining and Processing Plant

During the first year of operation, the Teghut Deposit became the second largest Copper Deposit in Armenia, significantly contributing to the economic development of the Northern regions of the Republic of Armenia and solving the employment problem.

2018 – Stopping the activity of the Mining and Processing Plant

According to a study by foreign specialized organizations the reason for the shutdown was preliminary data on the risks of the stability of the Tailings Dam. Later, these preliminary conclusions were confirmed by the conclusions of the involved consultants. Based on the data received, “Teghout” CJSC made a difficult decision – to temporarily stop ore mining.   

2019 — Resumption of production activities, restart of Mining and Processing complex

In April — May 2019, the Company carried out repair and reconstructing and commissioning works, performed depreservation of hazardous industrial facilities, received permission to restart the Mining and Processing complex production activities with an annual capacity of 7 million tons of ore per year.

For the entire period of production activity, “Teghout” CJSC expects to extract and process about 47 million tons of ore by the end of 2021.

In order to reduce the risks of the stability of the Tailings Dam, the Company has developed and is implementing measures to improve the stability of the of the Tailings Dam, including:

• development and implementation of stricter quality requirements for the daily assessment of the Tailings Dam condition;
• organization of artificial lowering of the depression curve of the water level in the tails;
• additional study of the physical and mechanical properties of the tailings dam;
• development of a project to strengthen the Tailings Dam;
• carrying out works to strengthen the Tailings Dam with roaches and other rocks.

The production activity of the Company’s Mining and Processing Plant allowed providing about 1,100 jobs and making a significant contribution to solving the problem of employment in the region of presence.

Acting in strict compliance with all the criteria established by the Laws of the Republic of Armenia, “Teghout” CJSC became one of the country’s major taxpayers, for the period 2019 – 2021, the Company plans to pay more than 28.2 billion drams to the State Budget.