Armenia

“Chaarat Kapan” CJSC is located in Armenia, 320km to the south east of the capital, Yerevan. It is found in a district dominated by the mining industry, with the Kajaran copper-molybdenum mine and a number of smaller production facilities operating alongside Kapan.
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Country details

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Kapan

Production

Kapan

Commodities	Au, Ag, Cu, Zn
Stage	Producing
LOM Avg. Production	65koz AuEq
Target LOM Avg. EBITDA ($1,400)	US$20m(2)
Reserves	561koz AuEq
Resources	3,288koz AuEq

“Chaarat Kapan” CJSC was acquired by Chaarat in early 2019 for a consideration of US$55 million.

The acquisition was an important milestone in achieving Chaarat’s goal of building a leading emerging markets gold company with an initial focus on Central Asia and the FSU through organic growth and selective M&A. It demonstrates the Company’s ability to execute deals quickly, diligently and on accretive terms.