“ “Alrosa” was not able to come to terms with Sterlite Industries Limited for purchasing the Ararat Gold Recovery Company (AGRC).”
“Arminfo” news agency published this on January 11, according to which, the Russian “Alrosa” diamond recovery company wanted to purchase the “Ararat Gold Recovery Company” (AGRC). However, AGRC was not sold. According to the message, representatives of the Indian “Sterlite Industries Limited” and “Alrosa” were leading negotiations in Yerevan.
‘…both sides were not able to come to an agreement because “Alrosa” proposed a very low price for AGRC. The rightful owner of AGRC is the Indian “Sterlite Industries Limited” company. Over the past years, the Indian company has invested more than 40 million dollars in AGRC,” as stated in the message.
Sources say that the Russians have offered to pay 25 million dollars. Besides that, the Russians have also offered to pay 10 million out of the transaction.
Specialists are certain that if the Russians have decided to purchase it, then they will surely reach their goal. “Alrosa” is a state company. It is one of the major companies of the world that searches, recovers, sells and produces diamonds. “Alrosa” owns 100% of Russia’s diamond recovery which makes up 23% of diamond recovery in the world.
“If the large Russian company is able to control the largest Armenian gold mine, then the issue concerning the construction of a factory in Sotk will immediately be solved. Nobody can go against our strategic ally in Armenia,” says an official of the Ministry of Trade and Economic Development who wished to remain anonymous.
According to data, the Republic of Armenia owes a lot of money to “Alrosa” and this may also have an influence on the future of the gold factory.
Owner of AGRC Anil Agarwal is not too happy with the work being done by the company. On January 9, president of AGRC Sanjey Dalmia was fired because he had “personally” wanted to.
Anil Agarwal postponed his January 15 visit to Armenia. The objective for his visit was to meet with president of Armenia Robert Kocharyan. According to sources, the president did not wish to meet with A. Agarwal. Agarwal wanted to convince the president to agree with the construction of a new gold extraction factory near the Sevan Lake basin.
According to the same source from the ministry, Armenian National Assembly MP and president of the “Multi Group” company Gagik Tsarukyan also wants to purchase AGRC. Other foreign companies also wish to purchase the company, but they have refused after getting acquainted with the documents.
The unexpected rise in the price of gold internationally is probably the reason for the chaos between Armenia’s two gold recovery companies.
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