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"First Dynasty Mines" Company of Canada invested US $22, 1 in gold extraction in Azerbaijan territories
Azeri Press Agency, Azerbaijan
Oct 20 2006
[ 20 Oct. 2006 18:11 ]
"First Dynasty Mines" (FDM) Company of Canada invested US $22, 1 in
gold extraction in Nagorno Garabagh, occupied Azerbaijan territories.
It plans to invest US $12mn in Armenia's gold extraction by the end of
next year," Arif Iskenderov, the chief of Ecology and Natural Resources
Ministry Ecology and Nature Protection Policy Department told the
APA. He said that Armenian government negotiates with International
Financial Corporation of World Bank and other foreign banks. FDM
invested US $4mn in geological exploration in Armenia and occupied
Azerbaijan territories. The company plans to extract over five tones
of gold in Kelbejer, occupied Azerbaijan region. It established a lab
of US $70 00 in Soyudlu field in Kalbajar. It plans to establish the
same in Ararat gold extraction.
73 percent of Soyudlu field is situated in occupied Azerbaijan
territory. The exploitation of the field was stopped in 1992. US
specialists began geological exploration of the field in 1996.
Armenian Industry and Commerce Ministry and FDM Company signed a
contract of US $63, 3mn in 1997. Sterlite Gold Ltd owns assets of
FDM Company. The same company bought stocks of Ararat Gold Recovery
Company in 2002 and became its owner.
12 000 employees of FDM work in Armenia and occupied Azerbaijan
territories. Their average monthly salaries are US $150-160. /APA/
Azeri Press Agency, Azerbaijan
Oct 20 2006
[ 20 Oct. 2006 18:11 ]
"First Dynasty Mines" (FDM) Company of Canada invested US $22, 1 in
gold extraction in Nagorno Garabagh, occupied Azerbaijan territories.
It plans to invest US $12mn in Armenia's gold extraction by the end of
next year," Arif Iskenderov, the chief of Ecology and Natural Resources
Ministry Ecology and Nature Protection Policy Department told the
APA. He said that Armenian government negotiates with International
Financial Corporation of World Bank and other foreign banks. FDM
invested US $4mn in geological exploration in Armenia and occupied
Azerbaijan territories. The company plans to extract over five tones
of gold in Kelbejer, occupied Azerbaijan region. It established a lab
of US $70 00 in Soyudlu field in Kalbajar. It plans to establish the
same in Ararat gold extraction.
73 percent of Soyudlu field is situated in occupied Azerbaijan
territory. The exploitation of the field was stopped in 1992. US
specialists began geological exploration of the field in 1996.
Armenian Industry and Commerce Ministry and FDM Company signed a
contract of US $63, 3mn in 1997. Sterlite Gold Ltd owns assets of
FDM Company. The same company bought stocks of Ararat Gold Recovery
Company in 2002 and became its owner.
12 000 employees of FDM work in Armenia and occupied Azerbaijan
territories. Their average monthly salaries are US $150-160. /APA/