Products, Companies & Markets


Chaarat gets Kapan regulatory ticks 
/Jan 2/

Chaarat Gold Holdings (LSE:CGH) has received shareholder approval and anti-monopoly clearance for its for US$55 million acquisition of Polymetal’s (LSE:POLY) Kapan project in Armenia, with the transaction expected to close by the end of January.

The acquisition was approved by Chaarat shareholders at a December 31 general meeting and Armenia’s State Commission for the Protection of Economic Competition also gave its approval prior to the meeting.

Chaarat said it was in discussions with Polymetal and its funding banks to extend the closing date of the acqusition to January 31 from January 15 due to upcoming public holidays in Armenia and Russia.

“Chaarat continues to work with Polymetal on key transitional details and is making significant progress in filling senior operational roles at the Kapan mine, identifying operational improvements and developing a detailed first 100-day plan,” it said.

The company’s shares started the year at 27.04p (US34.4c) Wednesday, down  0.57% from the previous close.

Cigarette production grows strongly in Armenia in eleven months
/Jan 4/Panorama/

Armenia saw a strong growth in tobacco production in the first eleven months of 2018, the latest official statistics show.

The country produced a total of 27,686,900 units of cigarettes from January to November last year, up by 11.3% from the same period of 2017, when the output stood at 24,867,500 units, learnt from the Statistical Committee of Armenia. 

The cigarette production share in process manufacturing now makes up 15.1% in Armenia due to the registered growth.

According to statistics, more than 50% of Armenian men and almost 4% of women above 16 years of age are smokers.

Armenian military products will be presented at the IDEX 2019 in the UAE
/ Jan 9/Arminfo/Naira Badalian/

Acting Minister of Defense of Armenia David Tonoyan on January 9 received the Ambassador of the United Arab Emirates in Armenia, Dr. Jassim Mohammed Al  Qasimi. During the meeting, the sides discussed the possibilities of cooperation between the two countries in the field of defense. As reported by the press service of the Armenian Defense Ministry, speaking about the prospects for the development of bilateral military cooperation, David Tonoyan stressed the importance of establishing cooperation on a planned and contractual basis.

Ambassador conveyed to the Acting Defense Minister invitation fro Secretary of Defense, Emir of Dubai, Prime Minister and Vice President of the United Arab Emirates Mohammed bin Rashid Al Maktoum   to participate in the IDEX 2019 (International Defense Conference & Exhibition), which will be held on February 17-21. Having accepted the invitation, David Tonoyan said that in addition to the participation of the delegation headed by the Armenian Defense Minister, the military industry enterprises of Armenia will present their products at the exhibition, and the guard of honor and the military orchestra of the Ministry of Defense will take part in the ceremonies.