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Armenian authorities are not informed about the Saudi “RAK Minerals & Metals Investments (RMMI)” company, which has by 100$ acquired Armenian TSCC company.

In an interview with Panorama.am reporter Hovik Ezakyan of the Ministry of Environmental Protection has affirmed the existence of the company in Armenia and that the company has been authorized by a geological license this year. The representative of the ministry has not provided any detailed information. Our reporter was advised to apply to the Ministry of Economy. But it was clarified that the Ministry of Economy had an unsuccessful experience of getting information about the current company.

Note that the official web site of RAK Company provides telephone numbers of Yerevan branch. But the representatives of the company were unavailable all day long.

RMMI has earmarked $200m over the next two years to fund the acquisition and set up a concentrate plant in the country, and the announcement was made on April 9. As part of the deal, TSCC's mines in Armenia will now be operated under RMMI. This includes two complexes in North Armenia in Karnut (135 sq.km.) and Prevolnoye (37 sq.km.), and in South Armenia in Larneshan (167 sq.km.).

Now it is still vague who coordinates the contract which cost 200mln dollars and where shall the mine resources of Armenia be exploited.