Armenian Molybdenum Production Produced Last Year 2,840 Tons Of Ferr

ARMENIAN MOLYBDENUM PRODUCTION PRODUCED LAST YEAR 2,840 TONS OF FERROMOLYBDENUM

YEREVAN, March 26. /ARKA/. Armenian Molybdenum Production company
produced last year 2,840 tons of ferromolybdenum worth 20.11 billion
drams, by 12.7 tons more than in 2011. The entire output was sold to
Europe, the government press office said today, adding that prime
minister Tigran Sargsyan visited the plant, which processes copper
concentrate produced by Zangezur Copper and Molybdenum Combine in
the southern region of Syunik.

Tigran Sargsyan was told that in January and February 2013 production
of ferromolybdenum rose to 520 tons, up from 340 tons produced in
the first two months of 2012. In terms of money, this amounted to
3.55 billion drams, up from 2.6 billion drams from a year earlier.

‘Despite a significant increase in physical production, the
productivity growth rate in terms of money has slowed due to slow but
steady decline in prices of ferromolybdenum at global markets. Thus,
if in January 2013 the price of 1 ton of molybdenum was $29,100, on
February 20 it dropped to $27,800,’ the government press office said.

To secure growth in the current year, the company is going to process
hazardous waste, not used before, to get additional volumes of
ferromolybdenum, the government said.

In 2008 the company launched production of ammonium perrhenate
(rhenium content is 69.4%). Currently, the company employs about 500
people with average monthly salary of 208,400 drams.

In the latest list of Armenia’s largest corporate taxpayers the
Armenian Molybdenum Production was on the 155 position having paid
602.7 million drams in various taxes. ($ 1 – 418.02 drams). -0-

From: Emil Lazarian | Ararat NewsPress