TRIPP Fund director says US firm acquired Armenia's second-largest copper mine

Konstantin Sokolov, Director of the TRIPP+ Development Fund, said the peace memorandum signed between Armenia and Azerbaijan is a unique and transformative event for the region. He made the remarks in an interview with Bloomberg.

Sokolov said his US-based investment company, Dynamic Frontier, acquired the Teghut mine, Armenia's second-largest copper mine, in September. “The main objectives of this deal were to strengthen the Armenia-US partnership and ensure access for US supply chains to Armenia's vital mineral resources,” he said.

On September 23, Dynamic Frontier Holdings announced the completion of a deal to acquire 100% of the shares of Teghut CJSC, the operator of the Teghut copper-molybdenum mine, as well as the company's outstanding debts. The company said it would continue operating the mine while investing in its modernization. Teghut is located in Armenia's Lori Province and is one of the country's largest copper-molybdenum deposits. Dynamic Frontier Holdings is registered in the US state of Texas.