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Armenian Mining Sector Boosts Output 6.5% In 2007

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  • Armenian Mining Sector Boosts Output 6.5% In 2007

    ARMENIAN MINING SECTOR BOOSTS OUTPUT 6.5% IN 2007

    Interfax News Agency
    Russia & CIS
    February 27, 2008
    Russia

    Armenia's mining companies increased production by 6.5% to 228.2
    billion dram in 2007, an official at the Trade and Economic Development
    Ministry said.

    Almost all output was exported, the ministry's head of natural
    resources and mining, Artur Ashugian said.

    He said the more successful companies included the Zangezur Copper &
    Molybdenum Plant, with output of 82 billion dram; Armenian Molybdenum
    Production with 38 billion dram; and Pure Iron Works with 45.7
    billion dram.

    Ashugian also said that the future for Armenia's mining and metals
    sector lies in more intensive processing of metal concentrate.

    Molybdenum concentrate is shipped to Armenia for processing from
    Russia, the United States and other countries. Armenia produces and
    exports ferromolybdenum.

    The official exchange rate for February 25 was 307.54 dram/$1.
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