Нetq: ZCMC and GeoProMining Gold are considered assets of Russian company GeoProMining

The data available on Armenia’s State Register of Legal Entities confirms that the Russian company GeoProMining LLC owns neither Zangezur Copper Molybdenum Combine (ZCMC) nor GeoProMining Gold.

However, the two companies are considered to be assets of GeoProMining, Hetq, an Armenian investigative outlet, says in response to a ZCMC statement.

“In addition, the owners of GeoProMining Gold and ZCMC are connected to Russian billionaire Roman Trotsenko and his son, Gleb Trotsenko who own GeoProMining,” the outlet said on Thursday.

"Roman and Gleb Trotsenko were previously hit by U.S. sanctions and withdrew from some of the companies in which they owned stakes.

“In late 2023, Gleb Trotsenko also "left" Armenian GeoProMining Gold LLC and Zangezur Copper and Molybdenum Combine CJSC. He was replaced by Svetlana Ershova, who was involved in the Trotsenko family's businesses," reads the report.