ARMENIA’S BANAVAN RESIDENTS ARE IN THE WAY OF HRAZDAN IRON FIELD MINERS
PanARMENIAN.Net
March 14, 2011 – 17:21 AMT 13:21 GMT
Residents of Banavan community in Armenian town of Hrazdan are being
persuaded to sign documents relinquishing their homes. Instead,
they’re offered lodgings till new houses are built for them, reads
a letter obtained by PanARMENIAN.Net
Banavan community is located at a distance of 1,4 km from Hrazdan
iron field. On January 12, Fortune Oil Chinese company invested USD 24
million to purchase 35% of Bounty Resources Armenia Limited company’s
shares. Bounty Resources Armenia Limited controls 3 irons fields in
Armenia, including that in Hrazdan.
Hrazdan’s iron ore has high quality, containing 40% iron. According
to current plan, iron mining at Hrazdan will launch in 2014, with
the annual output estimated at 1,5-2,0 tons.
From: A. Papazian
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