Konstantin Sokolov, head of the TRIPP+ investment fund, which will finance construction work in the Zangezur corridor, has become the owner of the Teghut copper-molybdenum deposit in Armenia.
Modern.az reports with reference to local media that the new owner of the Teghut mine is Dynamic Frontier Holdings, a company registered in Texas, USA. The company is headed by Konstantin Sokolov.
Teghut is considered the second largest deposit in Armenia in terms of copper and molybdenum reserves. The mine's resources are estimated at approximately 450 million tons of ore.
Electronic registry data show that Dynamic Frontier Holdings is the new owner of the shares of "Kuprare RA" company, which operates the deposit.
It should be recalled that the mine came under the control of Russia's VTB Bank in 2018 in exchange for repayment of credit debts after Vallex Group's financial problems. As of the end of 2024, the enterprise's debt to the bank exceeded 162 billion drams (approximately 440 million dollars).
According to media reports, the deal was carried out in several stages. First, the debt was acquired from VTB through a third party, then the asset was transferred to a US investor. Some sources note that this scheme may be aimed at avoiding direct transactions with the Russian bank, which is subject to Western sanctions.
Konstantin Sokolov is not a new face in the Armenian economy. In 2024, he acquired a 20 percent stake in Viva Armenia, one of the country's largest telecommunications companies. Sokolov also heads IJS Investments, an investment company operating in the US, and Gotthard Investment AG, based in Switzerland. His interests include energy, telecommunications and infrastructure projects.
