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AGARAK COPPER MOLYBDENUM PLANT EXPECTS GROWTH OF INDUSTRIAL AND FINANCIAL INDICATORS IN 2011-2012
/ARKA/
September 16, 2011
YEREVAN
YEREVAN, September 16. /ARKA/. Agarak copper-molybdenum plant expects
additional growth of industrial and financial indicators in 2011-2012
and in 2010 it started to show income, press-service of GeoProMining
informed "ARKA".
Prime Minister of Armenia, Tigran Sargsyan, visited the Agarak Copper
Molybdenum Combine (ACMC) during an official trip to the region of
Syunik on September 10. The Prime Minister reviewed the plant's
investment programs, which include modernization of processing
facilities, professional training for employees, changes to the
organizational structure of the enterprise and development of the mine.
In August 2009, GPM hired the Mechanobr Institute to conduct a
feasibility study for the reconstruction of ACMC. The institute
developed an integrated approach to designing new and modernizing
existing facilities at ACMC. The project includes the development of
efficient technologies, implementation of modern engineering solutions
and the use of more efficient, higher-output equipment.
In June 2009, the government of Armenia provided ACMC with
stabilization credit for anti-crisis measures to support a program to
reduce costs and increase ACMC's competitiveness. In December 2009,
ACMC began repayment of the government credit.
GeoProMining, founded in 2001, is an international, privately held
company with a diversified base of gold and other metals assets.
GeoProMining engages in mining activities in Armenia, Georgia and
the Russian Federation. GeoProMining acquired the initial stake in
ACMC in December 2007.
From: A. Papazian
/ARKA/
September 16, 2011
YEREVAN
YEREVAN, September 16. /ARKA/. Agarak copper-molybdenum plant expects
additional growth of industrial and financial indicators in 2011-2012
and in 2010 it started to show income, press-service of GeoProMining
informed "ARKA".
Prime Minister of Armenia, Tigran Sargsyan, visited the Agarak Copper
Molybdenum Combine (ACMC) during an official trip to the region of
Syunik on September 10. The Prime Minister reviewed the plant's
investment programs, which include modernization of processing
facilities, professional training for employees, changes to the
organizational structure of the enterprise and development of the mine.
In August 2009, GPM hired the Mechanobr Institute to conduct a
feasibility study for the reconstruction of ACMC. The institute
developed an integrated approach to designing new and modernizing
existing facilities at ACMC. The project includes the development of
efficient technologies, implementation of modern engineering solutions
and the use of more efficient, higher-output equipment.
In June 2009, the government of Armenia provided ACMC with
stabilization credit for anti-crisis measures to support a program to
reduce costs and increase ACMC's competitiveness. In December 2009,
ACMC began repayment of the government credit.
GeoProMining, founded in 2001, is an international, privately held
company with a diversified base of gold and other metals assets.
GeoProMining engages in mining activities in Armenia, Georgia and
the Russian Federation. GeoProMining acquired the initial stake in
ACMC in December 2007.
From: A. Papazian