Russia & CIS Business and Financial Newswire
January 15, 2008 Tuesday 10:57 AM MSK
Armenia’s Pure Iron raises ferromolybdenum output 10% in 2007
YEREVAN Jan 15
Pure Iron Works increased production of ferromolybdenum by 10.2%
year-on-year to 2,845.4 tonnes in 2007, an executive at the company
told Interfax.
In value, production of ferromolybdenum grew 9.1% to 37.432 billion
dram.
However, production of pure molybdenum dropped 20.1% in volume and
18.3% in value to 389 tonnes and 8.229 billion dram.
The company also produced 85.8 kg of rhenium salt with 64% rhenium
content, worth 62.4 million dram, up from 8.5 kg worth 1.44 million
dram last year.
Pure Iron increased exports of ferromolybdenum by 7.7% to 38.339
billion dram, while reducing exports of pure molybdenum by 21.6% to
8.335 billion dram. The company also exported 103 kg of rhenium salt
worth 125 million dram; this product was not exported in 2006.
Germany’s Cronimet Mining owns 51% of Pure Iron, and the remaining
shares are owned by Armenian residents.