Country Name

Official name: Republic of Armenia

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Why Armenia?

Why invest in Mining in Armenia

  • Established Mining Jurisdiction – Chaarat bought Kapan with mining history since the 1960s
  • Mining sector is one of the most important sectors and revenue generators in country – Chaarat pays multi million mining royalty and corporate tax
  • Highly skilled and well educated workforce in mining – Chaarat operating with 99% local workforce at Kapan
  • Free Expatriation of Capital – Chaarat committed to reinvest into the operation at Kapan but allocate capital efficiently within the organisation
  • Country with High Hospitality and Safety
  • Developed Infrastructures - whole territory of the country is electrified, supplied with both gas and water

Why invest in Armenia

    No specific approval/authorization for making an investment
    Free repatriation of profits
    No limitation on foreign ownership
  • Capital:
  • Government Type:
  • President:
    Armen Sarkisyan
  • Prime Minister:
    Nikol Pashinyan
  • Date of Formation:
    An independence referendum was held in Armenia on September 21, 1991, following which (99 percent of the vote) the Parliament of the Republic of Armenia declared the Republic of Armenia an independent state. September 21 is celebrated as Independence Day. Prior to that, on August 23, 1990, the Supreme Soviet of the Armenian SSR adopted the Declaration of Independence.
    Armenia is a member of the United Nations, the Collective Security Treaty Organization, the CIS, the Council of Europe, the WTO and more than 40 other international organizations. On January 2, 2015, Armenia joined the Eurasian Economic Union.

Geographical location

Armenia is a country in the north of Western Asia, in the northeast of the Armenian Highland. It borders Georgia on the north, Azerbaijan on the east, Iran on the south, and Turkey on the west. On the southeast part of it is Artsakh, and on the southwest is the Nakhichevan Autonomous Republic that is under the control of Azerbaijan. Today Armenia occupies only one tenth of the territory of historical Armenia.

Historical Facts

According to historian Movses Khorenatsi, the beginning of the history of the Armenian people is considered 2492 B.C., when the renowned forefather of the Armenian people, the patriarch Hayk, defeated the Assyrian King Bel in the Armenian valley and gained independence. Armenia is the first state to adopt Christianity as a state religion in 301 B.C. 94.4 percent of the population profess Christianity. The Armenian Apostolic Church is the main religious institution of modern Armenia. During the reign of Tigran the Great in the 1st century Armenia reaches its maximum power and authority. In the XVI-XIX centuries the homeland of Armenians, consisting of Eastern and Western Armenia, came under the rule of the Ottoman and Persian Empires. In 19th century Eastern Armenia was occupied by the Russian Empire; Western Armenia, much of Armenia, remains under Ottoman rule. After the Russian Revolution and the fall of the Russian Empire in 1918, non-Russian states, including Armenia, declared their independence. The first Republic of Armenia was founded. On March 12, 1922 Armenia became part of the Soviet Socialist Federal Republic of Transcaucasia. On December 5, 1936, the Transcaucasian Federation collapsed, and the member states, including the Soviet Socialist Republic of Armenia, became Soviet republics.

  • Location:
    Southwestern Asia, between Turkey (to the west) and Azerbaijan; note - Armenia views itself as part of Europe; geopolitically, it can be classified as falling within Europe, the Middle East, or both
  • Geographic Coordinates:
    40 00 N, 45 00 E
  • Area:
    total: 29,743 sq km
  • Area - Comparative:
    slightly smaller than Maryland
  • Land Boundaries:
    total: 1,570 km border countries (4): Azerbaijan 996 km, Georgia 219 km, Iran 44 km, Turkey 311 km
  • Climate:
    highland continental, hot summers, cold winters
  • Elevation:
    mean elevation: 1,792 m lowest point: Debed River 400 m highest point: Aragats Lerrnagagat' 4,090 m
  • Natural Resources:
    small deposits of gold, copper, molybdenum, zinc, bauxite

Population Overview

  • Population:
    2 930 450 people (2017)
  • Ethnic Groups:
    98,1% Armenians, 1,2% Yezidis, 0,4% Russians, 0,3% other
  • Languages:
    Armenian (official) 97.9%, Kurdish (spoken by Yezidi minority) 1%, other 1% (2011 est.) note: Russian is widely spoken


Prior to its independence, the Armenian economy was mainly industrial, with priority areas: chemicals, electronics, machinery, rubber, food industry and textiles; it depended heavily on imported raw materials. During the Soviet era, the industrial sector played an important role in securing employment and income for the population. Meanwhile, after the collapse of the USSR, there was a sharp decline in the industrial sector of the Armenian economy. Compared to previous years, the proportion of mining industry in the structure of the Armenian industry has increased. According to the January-December data of 2016, the processing industry accounts for 61.9 percent of the value added in the industrial sector, and the mining industry - 17.9 percent, while in 1991-2001 the share of the mining industry did not exceed 7% of GDP. The mining industry of Armenia includes lead, zinc, gold and copper.
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The Armenian Diaspora is the community of Armenians living outside the borders of Armenia and Artsakh. The total number of Armenians worldwide is at least 10-12 million. In Lebanon, Syria, Iran, the US, Europe and other Eastern countries, Armenians are involved in crafts and commerce, partly in agriculture. Since World War II, there has been a significant increase in the number of businessmen, professionals, officers, and especially students, among the local Armenians. Armenians have been instrumental in the development of science, economics, education, health, politics, and other fields around the world. Many famous Armenian names can be found among the famous and successful people today, whose activities are regularly featured in various prestigious magazines such as The Guardian, Forbes and others.


Population: 45146

Kapan is the regional center of Syunik marz of the Republic of Armenia, it is part of Kapan enlarged community with 38 settlements.

Kapan Enlarged Community Area is 79981.45 hectare out of which 4963.89 hectare in Kapan. As a settlement in Armenian historiography, Kapan is mentioned as far back as the 5th century AD, as a city in the late 10th century. In 1938, it received the status of a subordinate district city, and in 1963 a subordinate republican city, it was the center of the Kapan district.

In 1103, Kapan was destroyed by the Seljuks. Afterwards Kapan continued its existence for several centuries, not as a town, but as an ordinary settlement. The present town of Kapan is located 10 km south of the historic city, in the middle flows of the Voghji River, at the right and left narrow valleys of its Vachagan and Kavart tributaries, on 30-40 degree slopes adjacent to them, at altitudes of 700-1000 m. The name "Kapan" derives from the simple name "Kapan", which means "a narrow gorge between two mountains. The modern Kapan was built around the mining industry and was an industrial center during the Soviet era. Currently the main branch of the city's economy is mining too, represented by the Kapan Mine, "Chaarat Kapan" CJSC. Chaarat Kapan is the largest employer in the community, employing around 1100 residents. The company and the community are working closely together, and Chaarat Kapan always stands for the community development programs by supporting cultural, sports, social, health, educational and other initiatives.