The Teghut copper-molybdenum deposit in Armenia has come under the control of the American company Dynamic Frontier Holdings, led by investor Konstantin Sokolov. Earlier this week, the US State Department appointed Sokolov as the head of the TRIPP+ fund, which invests in the development of a trade route through Armenia.
Teghut is considered the second-largest copper and molybdenum deposit in the country. Reserves are estimated at approximately 450 million tons of ore. After Vallex Group's financial problems in 2018, the asset was transferred to VTB Bank to repay credit obligations. By the end of 2024, the enterprise's debt to the bank exceeded 162 billion drams – about $440 million.
According to electronic registry data, the new owner of the company "Kuprar RA", which manages the deposit, is Dynamic Frontier Holdings, registered in the American state of Texas in August 2025. The deal was conducted in several stages: first, the debt to VTB was bought out, after which the asset was transferred to the American investor.
According to "Radio Liberty", such a deal structure may have been chosen to avoid a direct sale of the asset to a Russian bank under Western sanctions.
Konstantin Sokolov already has experience investing in Armenia. In 2024, he acquired 20% of the telecommunications company Viva Armenia. In addition, he heads the investment structures IJS Investments in the USA and Gotthard Investment AG in Switzerland, which operate in the fields of energy, communications, and infrastructure.