Open-pit mining at Teghut (summer 2014)
|Production||1.6 million tons of copper|
100,000 tons of molybdenum
|Active||2014 - Feb 2018|
|Company||Vallex Group (via Armenian Copper Programme)|
|Year of acquisition||2001|
Teghut Mine is a major copper and molybdenum open-pit mine in Armenia's northern province of Lori in the village of Teghut with deposits valued at US$15.5 billion (in 2010). In December 2014, Vallex Group launched production operations at the mine, which is a US$380 million project. In February 2018 Vallex Group published a statement announcing suspension of all operations and laying off nearly all staff.
The mine is expected become comparable in size to the Kajaran Mine in southern Armenia.
- 1 Available deposits and value
- 2 Mine financing and ownership
- 3 Notable incidents, statements and events
- 3.1 2018 February - Vallex Group declared suspension of all operations
- 3.2 2018 January - Leak into river
- 3.3 2017 December - Discontent of community residents
- 3.4 2017 October - Funding withdrawal due to environmental issues
- 3.5 2017 August - Mine operator acknowledges environmental pollution
- 3.6 2014 - Statements by mine operator
- 3.7 Assessments before opening
- 4 Gallery
- 5 See also
- 6 References
- 7 External links
Available deposits and value
The Teghut forest lies atop ore deposits containing an estimated 1.6 million tons of copper and about 100,000 tons of molybdenum. In 2010, with the price of copper at US$7,500 per ton and molybdenum at US$35,000 per ton, this amounts to about US$12 billion in copper and US$3.5 billion in molybdenum. Therefore, the total value of the mine's deposits was about $15.5 billion in 2010.
Mine financing and ownership
Vallex, which is run and at least partly owned by Russian-Armenian businessman Valeri Mejlumyan, claims to have already invested almost $340 million in Teghut. It has borrowed the bulk of that money from VTB, a leading Russian bank.
In 2013, the company also attracted $62 million in funding from a Danish pension fund which was due to be partly or fully channeled into purchases of metallurgical equipment. in 2017 Danish state agency has decided to withdraw already issued export credit guarantees to mine operators accusing its private owner of failing to comply with environmental standards.
Notable incidents, statements and events
2018 February - Vallex Group declared suspension of all operations
2018 January - Leak into river
By the end of January 2018 reports were published that tailing dam of got cracks and unprocessed mine waste leaks into Shongh river which became visibly polluted. However minister for nature protection maintains there measurements could not determine any river pollution.
2017 December - Discontent of community residents
2017 October - Funding withdrawal due to environmental issues
2017 August - Mine operator acknowledges environmental pollution
At the public hearings Deputy Director General Sahak Karapetyan didn't reject the fact of environmental pollution and promised to find a solution.
2014 - Statements by mine operator
Vallex claims to have created about 1,300 new jobs and has pledged to build new schools and upgrade infrastructure in nearby villages.
The company has said that it plans to manufacture $182 million worth of non-ferrous ore concentrates there already in 2015.
Assessments before opening
Open-pit mining at Teghut will lead to the destruction of 357 hectares of rich forest, including 128,000 trees. Environmentalists claim that ore crushing and enrichment will also pollute a local river and underground waters.
Panoramas from September 2013
- Danielyan, Emil (2014-12-22). "New Armenian Mining Giant Inaugurated". Azatutyun Radiokayan (RFE/RL). Yerevan. Retrieved 2015-08-30.
- "ANNOUNCEMENT (02.02.18)". vallexgroup.am. Retrieved 2018-02-22.
- "ANNOUNCEMENT (13.02.18)". vallexgroup.am. Retrieved 2018-02-22.
- "Denmark Withdraws Funding For Armenian Mining Project". «Ազատ Եվրոպա/Ազատություն» ռադիոկայան (in Armenian). Retrieved 2018-02-22.
- Ecolur. "'Vallex' Stopped Teghout Mining for Non-Fixed Term - HOT LINE - Ecolur". www.ecolur.org. Retrieved 2018-02-22.
- "What is going on at Teghut Mine (Video) | Հայկական բնապահպանական ճակատ". www.armecofront.net. Retrieved 2018-02-22.
- Hairenik (2018-01-26). "Teghut Tailings Travesty; Glendale Gas Grift; More Mining Mania". The Armenian Weekly. Retrieved 2018-02-22.
- "What is going on at Teghut Mine (Video) – AMULSAR". amulsar.com. Retrieved 2018-02-22.
- "Ministry tests samples from Debed, Shnogh rivers, no pollution recorded". armenpress.am. Retrieved 2018-02-22.
- Ecolur. "Shnogh Community Residents Demanding from RA Nature Protection Ministry To Withdraw Teghout Copper and Molybdenum Mining Expansion Project Submitted by "Teghout" CJSC - HOT LINE - Ecolur". www.ecolur.org. Retrieved 2018-02-22.
- "EKF withdraws financing from Armenian mining project - EKF". www.ekf.dk. Retrieved 2018-02-22.
- Teghout CJSC, official website of Vallex Mining subsidiary.
- Save Teghut Civic Initiative, an independent and voluntary network of free and concerned people from Armenia, Diaspora and various parts of the world who believe and fight for healthy and dignified human livelihood. The initiative was founded in 2007.
- Teghut: Bread of the Children, a 2009 documentary film (35 minutes) about the Teghut mine project
- Mining in Armenia, a 10-minute documentary, produced by Robert Davidian and Liana Hakobyan.
- Թեղուտ․ բնապահպանական, տնտեսական և իրավական կոլապս, (Teghut: Environmental, Economic and Legal Collapse), a 14-minute update by CivilNet (March 14, 2018) (in Armenian).
- Serj Tankian in defense of Teghut Forest (2012). Famous Armenian-American rock band vocalist Serj Tankian speaks out against mining in Armenia, specifically against mining at Teghut.