Mikael Minasyan Has No Stake in Armenia's Largest Mine - Poloskov

Mikael Minasyan does not have a stake in the Zangezur Copper-Molybdenum Combine. This was stated by the director of the combine, Mher Poloskov, during a press conference held in Kapan.

It is noteworthy that earlier, Civilnet published an article claiming that the hidden owner of the combine is Mikael Minasyan, the son-in-law of former Armenian President Serzh Sargsyan.

According to the data presented by the combine, 74.665% of the company’s shares belong to the German companies Cronimet Holding and Cronimet Verwaltungs, which are owned by the Pilarsky family. 12.5% of the shares belong to Zangezur Mining Company, whose owner is Swiss citizen Jean-Jacques Paul Bafen. The remaining 12.5% belongs to AMP Holding, where 60% of the shares are owned by Mher Poloskov, the general director of the Zangezur Combine, while his first deputy Narek Hambaryan and Karen Hakobyan, brother of the former governor of Syunik Vahe Hakobyan, each hold 20% of the shares. Finally, an additional 0.335% is owned by minority shareholders.