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Armenia's Pure Iron raises ferromolybdenum output 10% in 2007

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  • Armenia's Pure Iron raises ferromolybdenum output 10% in 2007

    Russia & CIS Business and Financial Newswire
    January 15, 2008 Tuesday 10:57 AM MSK


    Armenia's Pure Iron raises ferromolybdenum output 10% in 2007

    YEREVAN Jan 15


    Pure Iron Works increased production of ferromolybdenum by 10.2%
    year-on-year to 2,845.4 tonnes in 2007, an executive at the company
    told Interfax.

    In value, production of ferromolybdenum grew 9.1% to 37.432 billion
    dram.

    However, production of pure molybdenum dropped 20.1% in volume and
    18.3% in value to 389 tonnes and 8.229 billion dram.

    The company also produced 85.8 kg of rhenium salt with 64% rhenium
    content, worth 62.4 million dram, up from 8.5 kg worth 1.44 million
    dram last year.

    Pure Iron increased exports of ferromolybdenum by 7.7% to 38.339
    billion dram, while reducing exports of pure molybdenum by 21.6% to
    8.335 billion dram. The company also exported 103 kg of rhenium salt
    worth 125 million dram; this product was not exported in 2006.

    Germany's Cronimet Mining owns 51% of Pure Iron, and the remaining
    shares are owned by Armenian residents.
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