Vallex, which is run and at least partly owned by Russian-Armenian businessman Valeri Mejlumyan, claims to have already invested almost $340 million in Teghut.

[4] Pre-project reports indicated that open-pit mining at Teghut will lead to the destruction of 357 hectares of rich forest, including 128,000 trees.

[1] Vallex claimed to have created about 1,300 new jobs and pledged to build new schools and upgrade infrastructure in nearby villages.

[1] At public hearings, Vallex Deputy Director General Sahak Karapetyan didn't reject the fact of environmental pollution and promised to find a solution.

[5] After a series of warnings, the Danish state agency EKF decided to withdraw export credit guarantees to mine operators, accusing its private owner of failing to comply with agreed environmental standards.