“Vallex” group companies inform, within the framework of efforts to prevent the deterioration of the socio-economic situation in Alaverdi enlarged community,  as a result of suspension of operation of “Armenian Copper Programme” CJSC (hereinafter Company) Alaverdi Copper Smelter Plant (hereinafter Plant), a conceptual plan has been elaborated. The latter was submitted to the Government of RA with the hope for further constructive discussions and unified position formation. As it is known, processing of concentrates and blister copper production have been temporarily suspended in the factory since October, 2018, after which the Company initiated a process of the reduction of employees number, submitting all employees notices of dismissal on the basis prescribed by law. Up to now, similar notices have been previously revoked twice, and all employees of the Company were submitted new notices on making the planned dismissal within another time limit. According to recent (acting) notices, the reduction of the number of employees is envisaged to carry out on April 30, 2019.

The conceptual plan considers the possible options of resumption of production at the Plant, including:

  • Temporary resumption of copper production: parallel to this, works should be carried out towards the production of refined copper products using modern technological solutions, as well as towards the construction of a new copper smelter.
  • As a new-way activity, this project implies environmental impact assessment and expertise, as well as other legal processes, which are more time consuming.

Also, possibility of the joint realization of the above two options is being considered.

To insure prerequisites for the discussions of the conceptual plan with the Government and interested public, “Vallex” group companies have decided to postpone for two more months the deadline of the termination of Company’s employees contracts: thus Company employees will be given new notifications, defining a new deadline (June 30, 2019) for termination of employment.

We truly hope that the results of the constructive discussions with RA Government and interested public will allow us to choose the best option for Alaverdi community, and we are ready to do everything possible to realize the project approved publicly.

Mass media and PR department of “Vallex” group companies