The settlement was founded in March 1940 on the banks of the Pyrkanayvaam River, 100 km from Pevek[7] to house the miners and administrative workers from the Pyrkakay (Russian: Пыркакай) tin mine, with the name being changed to Krasnoarmeysky in January 1942 to honour the victories of the Red Army.[8] It was given settlement status in 1953, but was determined to no longer be economically viable in 1998.[9] As of 2009, Krasnoarmeysky is included in the list of settlements currently in the process of being liquidated.[1]
Population
The mines were declared unprofitable and that there was no possibility of developing any other form of economy in 1999 and the settlement was closed along with a number of others in Chukotka.[3] The Russian government guaranteed funds to transport non-working pensioners and the unemployed in liquidated settlements including Krasnoarmeysky from Chukotka to other parts of Russia.[3] The Ministry of Railways was obliged to lease containers for the transportation of the migrants' goods to the Chukotkan administration and ensure that they were delivered to the various settlements.[3] The population table below shows the impact on the settlement as a result of the closure of the mines.
Дума Чукотского автономного округа. Закон №33-ОЗ от 30 июня 1998 г. «Об административно-территориальном устройстве Чукотского автономного округа», в ред. Закона №55-ОЗ от 9 июня 2012 г. «О внесении изменений в Закон Чукотского автономного округа "Об административно-территориальном устройстве Чукотского автономного округа"». Вступил в силу по истечении десяти дней со дня его официального опубликования. Опубликован: "Ведомости", №7 (28), 14 мая 1999 г. (Duma of Chukotka Autonomous Okrug. Law #33-OZ of June 30, 1998 On the Administrative-Territorial Structure of Chukotka Autonomous Okrug, as amended by the Law #55-OZ of June 9, 2012 On Amending the Law of Chukotka Autonomous Okrug "On the Administrative-Territorial Structure of Chukotka Autonomous Okrug". Effective as of after ten days from the day of the official publication.). (in Russian)