Tree cutting in Teghut forest has been almost stopped because of the global financial crisis which hinders implementation of the programme on development of Teghut copper-molybdenum deposit in the north of Armenia, Director of Armenian Copper Programme metallurgical company, Gagik Arzumanyan, told journalists.

"We have not yet received fully-fledged financing for Teghut and the preparatory work is still underway", he said. The company director added that 20 Ha of Teghut forest were cut in 2008, although 35 Ha were agreed on. At present, 21 Ha of wood were cut. According to G. Arzumanyan, it is scheduled to start preparing for exploitation of the Teghut deposit in 2011, according to the programme. The director added that the credit for implementation of this programme will be expectedly received from VTB Russian bank.

To note, it is scheduled to cut 157 Ha of wood in Teghut during the next 12 years.