AGARAK COPPER-MOLYBDENUM COMBINE INTENDS TO EXTRACT ABOUT 1,45 MLN TONS OF ORE IN 2009
ArmInfo
2009-06-29 15:03:00
ArmInfo. Agarak Copper-Molybdenum Combine intends to extract about
1,45 mln tons of ore in 2009, President of GeoProMining Group Roman
Khudoliy told ArmInfo. ‘In the pure state, it will make up about 3
– 3,5 thsd tons of copper and 500 tons of molybdenum’, R. Khudoliy
said. According to him, it is currently difficult to make long-term
forecasts regarding the world prices for metals. However, extremely
low indicators – $2,8 thsd per ton of copper and $18,000 per ton of
molybdenum have already been passed. , he added.
To recall, the government of Armenia made a decision at the visiting
session in Kapan, Syunik region, on June 26, on extension of a budget
credit to ‘Agarak Copper- Molybdenum Combine’ CJSC to the sum of $14
mln for a 4-year period at Libor + 8 semi-annual rate. The funds have
been allocated within the frames of the Russian stabilization credit
of $500 mln provided to Armenia.
GeoProMining Group of companies is an international private company
founded in 2001. It has a diversified resource metal base. The Company
produces gold in the form of a "dore" alloy, as well as copper,
molybdenum and antimonic concentrates. "GeoProMining" extracts metals
in Russia, Armenia and Georgia. Sot gold-bearing mine, Ararat gold
concentration plant and Agarak Copper Molybdenum Combine are the main
assets of the Company in Armenia.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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