«Chaarat Kapan» CJSC is one of the assets of the British «Chaarat Gold International Limited» company. It operates Shahumyan Gold-Polymetallic deposit located in Syunik region through underground method. It produces copper and zinc concentrate with gold and silver content.
The first vein of Shahumyan Polymetallic deposit was discovered in the first half of the 20th century and was operated for a little while during the Second World War. Geological-exploartion works have been implemented in the deposit since 1929 with intervals.
Continuous exploration works of the deposit resumed in 1964 and continued till 1994. The operation of the deposit was commenced that same year by providing the inhabitants of the area with jobs. Up until 1988 Kapan MPC was operated in coordination with Kadjaran Copper-Molybdenum Mine under the subordination of the state. In 1988 it was disjointed from Kadjaran Mine and was named «Kapan Mining and Processing Company» and in 2002 as per decree 1859 A of the Republic of Armenia dated November 21, 2002 the company was privatized by the Swiss company called «Deno».
In 2006 the deposit continued to be operated by the Canadian «Dundee Precious Metals» corporation and in 2016 it was sold to the Russian «Polymetal International» company.
In January 2019 the company became the asset of the British « Chaarat Gold International Limited» company. The latter is a rapidly developing mining company that derives to become one of the largest gold mining companies in the world. The head office of the company is based in London. Besides Armenia, the company also owns assets in Kyrgyzstan.
Safe work, well-being of the employees and the protection of the environment are primary and important within the operations of the company.