YEREVAN. – Armenia’s integration into the Customs Union (CU) will not hurt the copper concentrate exports to Europe, Zangezur Copper and Molybdenum Combine Director Maksim Hakobyan told Armenian News-NEWS.am.  

In his words, however, contracts on the sale of the ore have not yet been signed with the CU metallurgists.    

“We sign medium-term contracts for three to five years, and the current ones are still in progress. When they are completed, then we will be prepared to discuss new proposals,” Hakobyan stressed. 

He noted that the combine exports copper concentrate to the German Aurubis Group plus seven or eight other companies. 

“So, we don’t rule out the possibility of working with the CU countries,” Maksim Hakobyan stated.    

The Zangezur Copper and Molybdenum Combine—which is the largest in Armenia—was the country’s largest taxpayer in 2013.

Following the talks that were held on September 3, 2013 in Moscow between Armenian and Russian Presidents Serzh Sargsyan and Vladimir Putin, Sargsyan had announced that Armenia plans to join the Customs Union and subsequently engage in the formation of the Eurasian Economic Union. In December 2013, the “road map” for Armenia’s accession to the Customs Union was adopted. And in January of this year, the Government of Armenia approved the action plan for the implementation of this “road map.” Aside from Russia, Belarus and Kazakhstan likewise are members in the Customs Union.