Zangezur Copper and Molybdenum Combine
The first geological excavations of Kajaran Mine in the Syunik Province took place in 1935. The construction of copper and molybdenum mine began in 1940, but was interrupted because of the World War II until 1944. The mine first started production in 1945, and has continued production to the present day.
In 2004 the combine was privatized and currently the owners are: the CRONIMET Mining GmbH (60% of shares), “The Plant of Pure Iron” OJSC (15% of shares), Armenian Molybdenum Production Ltd. (12.5%) and Zangezur Mining Ltd (12.5%).