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Breaches of contractual obligations totaling $1.2 million by 127 companies found in Armenia’s mining industry

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Breaches of contractual obligations totaling AMD 573 million ($1.2 million) by 127 companies have been found as part of the comprehensive analysis in Armenia’s mining industry, Garegin Baghramyan, the acting energy infrastructures and natural resources minister, said Wednesday at a news conference.

In his words, AMD 134 million (around $275,700) of the mentioned amount is already transferred to the government budget, 23 companies have received warnings and five companies ceased operating because of failing to comply with the rules of mining.

Earlier, the press office of the prosecutor general’s office reported that AMD 300 million (around $616,000) of the total amount of the AMD 963 million ($2 million) the mining companies owe Armenia’s government and communities had been obtained.

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Source: arka.am

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