Yerevan, July 4 /Mediamax/. The Ministry of Trade and Economic Development of Armenia confirm the information, according to which “Vedanta Resources” holds talks on selling the Armenian assets, belonging to it.

“Our sources confirm that Vedanta Resources holds talks on selling the assets, belonging to it in Armenia. In particular, we are informed that a corresponding memorandum is signed with “Madneuli” CJSC, which is already functioning in Armenia. In case of the successful conclusion of the deal, we expect serious investments from the purchaser. We follow the events and hope that soon Vedanta Resources will inform us on the conclusion of the deal and its details”, Mediamax was told in the press service of the Armenian Ministry of Trade and Economic Development today.

“Vedanta Resources” Company owns the Armenian “Ararat-Gold” gold-mining enterprise.

Mediamax reports that “Madneuli” CJSC is the leader of mining industry in Georgia.

In December of 2005, 97.25% of shares of “Madneuli” CJSC were purchased by Stanton Equities Corp., registered in the British Virgin Islands, which paid $51.1mln for them.