OREANDA-NEWS. October 4, 2011. At an extraordinary Shareholders’ Meeting at JSC Atomredmetzoloto (hereafter referred to as ARMZ Uranium Holding Co., ARMZ, Holding, the Company) Yakov Polunkin announced that he had left the Company and his powers as Director General were terminated. Tigran Khachaturov was appointed as acting Director General of the Company.

“Tigran Khachaturov has worked at ARMZ Uranium Holding Co. since 2007. He has been directly involved in setting up and developing the Company, and in implementing all main projects of JSC Atomredmetzoloto. I have no doubt that he will be able to ensure the future efficient development of ARMZ and achieve Atomredmetzoloto’s strategic goals,” Chairman of ARMZ Holding Co. Vadim Zhivov said.

The key tasks facing Tigran Khachaturov include increasing the company’s presence in the rare-earth metals segment, increasing the efficiency of existing companies, integrating ARMZ assets abroad, optimizing the Company’s structure and its corporate governance system taking into account the requirements of the shareholder and the major tasks facing ARMZ Uranium Holding Co.