10 Years of Ore Extraction and Processing Operations at "Teghut" CJSC

2006 – Founding of "Teghut" CJSC
"Teghut" CJSC was established to exploit the Teghut deposit in the Lori region, which ranks second in Armenia for copper and molybdenum reserves. The deposit holds approximately 450 million tons of ore, with confirmed reserves of 100,000 tons of molybdenum and 1.6 million tons of copper.

2006–2013: Design and Large-Scale Construction of the Teghut Mining and Beneficiation Complex (MBC)
Over 700 hectares were allocated for construction, including 357 hectares of forest. More than 140 facilities were built, including:

Primary Crushing and Flotation Beneficiation plants;

Tailing facilities (tailings dam, pipelines, drainage systems, and pumping stations);

Open-pit mine and mining transport machinery workshop;

Infrastructure (administrative buildings, water treatment plants, etc.).

2014 – Commissioning of the Teghut MBC
In its first year of operation, Teghut became the second-largest copper mine in Armenia, significantly boosting the economic development and employment of the country's northern regions.

2018 – Suspension of Operations
Based on preliminary studies by international experts regarding the stability risks of the tailings dam, the Company made the difficult decision to temporarily suspend ore extraction to ensure safety.

2019 – Resumption of Production and MBC Restart
Following extensive restoration and re-commissioning works, operations resumed with an annual capacity of 7 million tons of ore. To mitigate risks, the Company implemented strict daily monitoring, artificial lowering of the phreatic line, and dam reinforcement with rockfill.

March 2022 – July 2023: Suspension due to Geopolitical Factors
Global political-economic shifts and European sanctions led to disruptions in logistics, supply contracts, and cash flows. During this period, the Company focused on modernization:

Installation of a Condition Monitoring System (CMS) for real-time diagnostics;

Automation of the crushing department's technological processes;

The Analytical Department implemented ISO/IEC 17025 standards (the first accredited research lab of its kind in Armenia).

August 2023 – Present: Full Resumption of Production
Since 2014, over 160 million tons of rock mass have been extracted. By the end of 2024, the Company expects to have processed approximately 86.54 million tons of ore down to the 890 horizon.

Social and Environmental Responsibility

Employment: Created over 1,000 jobs. $2.8 million has been allocated to social programs and community support.

Reforestation: In response to using 260 hectares of forest land, the Company financed the restoration of 676.9 hectares of forests and orchards (a $1.8 million investment).

Taxes: Throughout its operations, "Teghut" CJSC has contributed $181.8 million in tax payments to the RA state budget.