History
The first geological investigations with Kajaran in the province Syunik took place in 1935. The building of Kajaran copper and molybdenum mine began in 1940, but was interrupted because of the World War II until 1944. The mine first started production in 1951, and has continued production to the present day.
After the independence of Armenia from the Soviet Union in the year 1991 the deep economic crisis seized also the Zangezur copper and molybdenum collective combined. It stood still until 1994.
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%).
Read more about this topic: Zangezur Copper And Molybdenum Combine
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