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ARMENIAN METALLURGICAL PLANTS REPORT MAJOR OUTPUT GROWTH
ArmenPress
Sept 28 2004
YEREVAN, SEPTEMBER 28, ARMENPRESS: The output of 26 ore mining
enterprises in the first eight months of this year, monitored by
a trade and development ministry department, amounted, in terms
of money, to 90 billion Armenians Drams, virtually as much as in
the first eight months of last year. The department head, Arthur
Ashughian, said last year's figure included also the 11 billion AMD
output of Armenal foil manufacturing plant.. Armenal is not operative
now because of undergoing a sweeping process of equipment upgrading.
This year's increase was due to efficient operation of an ore mining
plant in Agarak, in southern Armenia, whose production capacity has
gone up by 25 percent after it was privatized by a foreign company. The
plant has doubled its production growth rate against last year. Another
ore mining plant in Kapan, also in southern Armenia, has also doubled
its output after implementation of a development plan of Shahumian
mines.
The leading Armenian metallurgical company, the Armenian Copper
Program, has designed developments plans for both Armenia and Nagorno
Karabagh, reporting also a 20 percent output increase. According to
Ashughian, if Armenian metallurgical plants maintain this dynamic,
their overall output may amount to $280 million by the end of the
year against $170 million in 2003.
He said a total of $8 million were invested in Agarak and Kapan plants,
more than committed by their new owners.
The gold extracting plant in Ararat has produced this year 10.5
billion worth gold, 30 percent less than last year. According to
Arthur Ashughian, the decrease had been planned after the Zod mines
began exploring new mines. He said the current capacities of the mine
could be exploited for another 6-7 years, as it has been exploited
for decades. He said there are other gold mines in Armenia, but added
that they do not contain much gold.
ArmenPress
Sept 28 2004
YEREVAN, SEPTEMBER 28, ARMENPRESS: The output of 26 ore mining
enterprises in the first eight months of this year, monitored by
a trade and development ministry department, amounted, in terms
of money, to 90 billion Armenians Drams, virtually as much as in
the first eight months of last year. The department head, Arthur
Ashughian, said last year's figure included also the 11 billion AMD
output of Armenal foil manufacturing plant.. Armenal is not operative
now because of undergoing a sweeping process of equipment upgrading.
This year's increase was due to efficient operation of an ore mining
plant in Agarak, in southern Armenia, whose production capacity has
gone up by 25 percent after it was privatized by a foreign company. The
plant has doubled its production growth rate against last year. Another
ore mining plant in Kapan, also in southern Armenia, has also doubled
its output after implementation of a development plan of Shahumian
mines.
The leading Armenian metallurgical company, the Armenian Copper
Program, has designed developments plans for both Armenia and Nagorno
Karabagh, reporting also a 20 percent output increase. According to
Ashughian, if Armenian metallurgical plants maintain this dynamic,
their overall output may amount to $280 million by the end of the
year against $170 million in 2003.
He said a total of $8 million were invested in Agarak and Kapan plants,
more than committed by their new owners.
The gold extracting plant in Ararat has produced this year 10.5
billion worth gold, 30 percent less than last year. According to
Arthur Ashughian, the decrease had been planned after the Zod mines
began exploring new mines. He said the current capacities of the mine
could be exploited for another 6-7 years, as it has been exploited
for decades. He said there are other gold mines in Armenia, but added
that they do not contain much gold.