Armenia has received approximately 56 billion drams in dividends from Zangezur Copper Molybdenum Combine (ZCMC) in recent years, Deputy Minister of Territorial Administration and Infrastructure Arnak Avetisyan told parliament.
“Over recent years, we have received approximately 56 billion drams in dividends from Zangezur Copper Molybdenum Combine,” he said, according to Panorama.am.
Avetisyan described the state’s ownership of shares in Zangezur Copper Molybdenum Combine, Lydian and a company operating in the telecommunications sector as entirely natural.
In his assessment, state participation in these companies has generated substantial financial revenue that has been transferred to the state budget.
“The political views guiding Mr. Ghazaryan suggest that those tens of billions of drams should have flowed into the pockets of certain criminal-oligarchic circles rather than the state budget. We are only proud of these revenues and results,” he said.
Between January and September 2026, Zangezur Copper Molybdenum Combine paid approximately 61 billion drams in taxes to Armenia’s state budget.
