News

The canteen of "Teghut" CJSC has been revitalized, through a harmonious blend of comfort, aesthetics, and modern design. As a result of the renovation, the space has gained not just a new look but a new quality, becoming a place where employees can not only enjoy their meals but also spend their breaks in a warm and harmonious environment.

With innovative approaches and attention to detail, the canteen has become a more inviting and motivating space, contributing to the overall well-being of the team.

Starting July 1, 2021, the "Institute of Archaeology and Ethnography" SNCO of the National Academy of Sciences of the Republic of Armenia resumed archaeological research, excavations, and essential preservation activities for historical and cultural monuments located within the territory of "Teghut" CJSC. To facilitate the study of artifacts discovered during this period, the following measures were implemented to preserve their value and ensure public accessibility:

Specialized storage conditions were created to protect the findings from humidity, temperature fluctuations, and light exposure.

Preliminary restoration processes were carried out to repair damages and preserve the structural integrity of the discovered artifacts.

Detailed documentation of each finding was completed, including photography and digital scanning for future research and public access.

Museum exhibitions were organized, and plans were developed to present the artifacts to the general public.

These actions are vital not only for the preservation of the artifacts but also for the integration of modern technologies into the study and safeguarding of Armenia's cultural heritage.

Keeping with tradition, "Teghut" CJSC prepared a New Year’s surprise for the children of its employees.

2006 – Founding of "Teghut" CJSC
"Teghut" CJSC was established to exploit the Teghut deposit in the Lori region, which ranks second in Armenia for copper and molybdenum reserves. The deposit holds approximately 450 million tons of ore, with confirmed reserves of 100,000 tons of molybdenum and 1.6 million tons of copper.

2006–2013: Design and Large-Scale Construction of the Teghut Mining and Beneficiation Complex (MBC)
Over 700 hectares were allocated for construction, including 357 hectares of forest. More than 140 facilities were built, including:

Primary Crushing and Flotation Beneficiation plants;

Tailing facilities (tailings dam, pipelines, drainage systems, and pumping stations);

Open-pit mine and mining transport machinery workshop;

Infrastructure (administrative buildings, water treatment plants, etc.).

2014 – Commissioning of the Teghut MBC
In its first year of operation, Teghut became the second-largest copper mine in Armenia, significantly boosting the economic development and employment of the country's northern regions.

2018 – Suspension of Operations
Based on preliminary studies by international experts regarding the stability risks of the tailings dam, the Company made the difficult decision to temporarily suspend ore extraction to ensure safety.

2019 – Resumption of Production and MBC Restart
Following extensive restoration and re-commissioning works, operations resumed with an annual capacity of 7 million tons of ore. To mitigate risks, the Company implemented strict daily monitoring, artificial lowering of the phreatic line, and dam reinforcement with rockfill.

March 2022 – July 2023: Suspension due to Geopolitical Factors
Global political-economic shifts and European sanctions led to disruptions in logistics, supply contracts, and cash flows. During this period, the Company focused on modernization:

Installation of a Condition Monitoring System (CMS) for real-time diagnostics;

Automation of the crushing department's technological processes;

The Analytical Department implemented ISO/IEC 17025 standards (the first accredited research lab of its kind in Armenia).

August 2023 – Present: Full Resumption of Production
Since 2014, over 160 million tons of rock mass have been extracted. By the end of 2024, the Company expects to have processed approximately 86.54 million tons of ore down to the 890 horizon.

Social and Environmental Responsibility

Employment: Created over 1,000 jobs. $2.8 million has been allocated to social programs and community support.

Reforestation: In response to using 260 hectares of forest land, the Company financed the restoration of 676.9 hectares of forests and orchards (a $1.8 million investment).

Taxes: Throughout its operations, "Teghut" CJSC has contributed $181.8 million in tax payments to the RA state budget.

On October 16 and 17, more than 400 representatives of the HR community, including Davit Aghayan, Head of the Human Resources Management Service of "Teghut" CJSC, gathered at the landmark XXV Anniversary HR Directors Summit of Russia and the CIS. The participants discussed strategic challenges in human resource management, the increasing role of human capital in the "new reality," and current labor market trends, while also summarizing the results of the current period in the development of the economy, business, and the HR sector.

Leading HR executives featured in the "Top 100 Russian Managers" rating shared their expertise in personnel management. This year, the special guest of the XXV Anniversary HR Directors Summit was Andrey Bezrukov, a renowned retired Colonel of the Foreign Intelligence Service and a leading expert in forecasting and strategic planning, whose life inspired the 2022 series "The Russians."

On October 17, the XXV HR Directors Summit featured a masterclass by Radislav Gandapas titled "Transformational Leadership in an Era of Change." The President of the CIS Speakers Association and founder of Gandapas Academy spoke about the effective use of management resources, uniting employees and engaging them in achieving shared goals, as well as strengthening influence over people and attaining greater personal efficiency.

All participants received a gift: the book "25 Years of HR in Russia: About Human Capital and More," which includes insights from HR directors of leading Russian and international companies and university heads regarding the HR profession, management trends, and the future of the field, along with fascinating highlights from meetings with special guests.

Dear teachers, professors, parents, and our beloved pupils and students, we cordially congratulate you on September 1st — the Day of Knowledge and Education. We wish you a productive new academic year, full of knowledge, rich in discoveries, and abundant in success.

"Teghut" CJSC extends especially warm wishes to those stepping into school for the first time today. Keeping with our tradition, this year the Company has once again prepared a surprise for our employees' children: school bags filled with stationery.

Dear little ones, school is a place that will become very dear and close to your hearts over the years, guiding you toward a wonderful new world of knowledge. Walk this new path of life with confidence, arm yourselves with knowledge, and follow your dreams.

Wishing you a clear path and great success on your journey, dear students!

Guided by the HR-PR-04 Procedure "On Encouraging Employees of 'Teghut' CJSC for Special Contribution to the Company's Development," approved by Order No. 100-N of the General Director of 'Teghut' CJSC dated December 13, 2019, and based on the results of the Company's production and economic activities for 2022–2023, the following employees have been awarded:

1. Honorary Title: "Best Manager"

Levon Aghabekyan — Head of Material-Technical Supply, Logistics, and Sales Department.

Armen Matsakyan — Head of the Ore Beneficiation Plant.

Harutyun Hovhannisyan — Head of the Technical Control Department.

Davit Aghayan — Head of the Human Resources Management Service.

2. Honorary Title: "Best Specialist"

Hrant Hakhverdyan — Chief Geologist of the Mining and Metallurgy Complex (MMC).

Alik Evoyan — Shift Mechanic of the Mechanical Section of the Beneficiation Plant.

Armine Meliksetyan — Planning Engineer of the Planning Department of the Machinery Operation and Repair Service.

Artur Antanesyan — Operation Mechanic of the Auxiliary Machinery Operation and Repair Service.

3. Honorary Title: "Best Worker"

Aram Evoyan — 4th Category Electric and Gas Welder of the Mechanical Section of the Beneficiation Plant.

Artur Kostandyan — 5th Category Repair Fitter of the Mechanical Section of the Beneficiation Plant.

Garik Avetyan — 4th Category Dispatcher of the Tailing Management and Construction Works Service.

Samvel Nalbandyan — CAT-6018 Excavator Operator of the Open-Pit Mining Section.

4. Certificate of Honor:

Varuzhan Boshyan — Head of the Open-Pit Mine.

Arsen Khachatryan — Leading Geologist of the Chief Geologist Service (MMC).

Zaven Avetisyan — Head of the Experimental Laboratory of the Analytical Department.

Gevorg Gigoyan — Sampler-Controller of the Technical Control Department.

Saro Matevosyan — 3rd Category Fitter of the Machinery Operation and Repair Service.

Ashot Kirakosyan — Plumber of the Heat and Water Supply Section of the Chief Energy Engineer Service (MMC).

5. Letter of Appreciation:

Garush Makichyan — 4th Category Repair Fitter of the Mechanical Section of the Beneficiation Plant.

Gevorg Shahverdyan — Warehouse Manager of the Warehouse Section, Material-Technical Supply, Logistics, and Sales Department.

Andranik Yesayan — Senior Controller of the Technical Control Department.

Seyran Javakhyan — Wheel Loader Operator of the Machinery Operation and Repair Service.

Albert Yeritsyan — Operative Group Employee of the Information and General Security Service.

Hasmik Bezhanyan — Cleaner of the Communal and Domestic Service.

We cordially congratulate all the awardees and wish them further achievements!

Today, "Teghut" CJSC was once again bustling with guests.

We were visited by 6th and 7th-grade students from the Teghut Secondary School, accompanied by their teachers and school staff.

The day was incredibly interesting, engaging, and memorable. We lit candles and offered prayers at the Surb Khach (Holy Cross) Church located within the Company's grounds, followed by a visit to the medieval wine press (Hndzan) excavated at the ancient site of Gharakotuk.