Armenia’s largest metallurgical enterprise remained paralyzed by a strike on Tuesday as negotiations between its management and striking workers failed to produce an agreement.
Several hundred of the ZCMC’s 4,600 employees began the strike on Friday, demanding a 50 percent wage increase and improved working conditions. Mkhitarian suggested that while the workers remain firm in their demands, they may accept a more moderate but still “dignified” salary adjustment. However, the company’s management has thus far refused to make additional concessions beyond its initial offer.
Over the weekend, ZCMC’s leadership denounced the strike as illegal, warning participants of possible legal repercussions. The company argued that its workers already earn wages well above the national average of 291,000 drams ($730) per month.
ZCMC, Armenia’s top corporate taxpayer, has also raised concerns about the financial and environmental impact of the ongoing stoppage. The company’s spokesman, Ara Margarian, warned that the prolonged work stoppage could lead to broader complications beyond revenue losses.
Despite holding an almost 22 percent stake in ZCMC, the Armenian government has not issued an official statement regarding the strike. Narek Babayan, a government representative on the company’s board, declined to comment on the administration’s stance.
The rest of the mining giant is owned by entities linked to Russian billionaire Roman Trotsenko.
