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CJSC Armenian-Russian Mining Company (ARMC) To Launch Prospecting Of

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  • CJSC Armenian-Russian Mining Company (ARMC) To Launch Prospecting Of

    CJSC ARMENIAN-RUSSIAN MINING COMPANY (ARMC) TO LAUNCH PROSPECTING OF URANIUM ORES APPROXIMATELY IN MAY-JUNE 2009

    ArmInfo
    2009-01-27 15:55:00

    ArmInfo.CJSC Armenian-Russian Mining Company (ARMC) will launch
    prospecting uranium ore approximately in May-June 2009, ARMC Director
    General Mkrtich Kirakosyan made such an optimistic prediction talking
    to ArmInfo, Tuesday.

    He said the company expects that in February 2009 the Government
    of Armenia will specify the areas to prospecting and coordinate
    the choice with the Public Services Regulatory Commission. Another
    2-3 months will be required for examination by various ecological,
    medical and other organizations.

    'Thus, in May-June 2009 it will be possible to speak of launching
    the full-scale prospecting', he said.

    The company was founded in July 2008 in compliance with the Protocol
    of Intent between the Armenian Environment Ministry and Russian Federal
    Atomic Energy Agency dated 23 April 2007 and the Action Plan for 2007,
    as well as by the Memorandum between the State Atomic Corporation
    (Rosatom) and the Armenian Environment Ministry dated 6 February 2007
    and Action Plan for 2008. In accordance with the Protocol of Intent
    and Memorandum, the goal of the company is promoting cooperation in
    the sphere of geological exploration, mining and processing uranium
    ores. At present the company is developing a project of geological
    explorations for uranium and other minerals in the territory of
    Armenia. The project will specify mineral-resource properties and
    register licenses for subsurface resource management after relevant
    decision by the Government of Armenia to provide CJSC ARMC with
    a special right to prospecting. By preliminary data, uranium ore
    reserves in Armenia may total almost 30,000 tons. About 3 million
    dollars are envisaged for prospecting. By preliminary estimation of
    Soviet experts Armenia has just predicted resources of uranium.

    From: Emil Lazarian | Ararat NewsPress
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