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SHAHUMYAN GOLD POLYMETALLIC MINE'S OUTPUT SHRINKS 13.07% TO 340,000 TONS IN JAN-OCT
YEREVAN, December 15. /ARKA/. The Shahumyan Gold Polymetallic
Mine's output totaled 340,000 tons in Jan-Oct 2014 showing a 13.07%
year-on-year decline, the Armenian Energy and Natural Resources
Ministry reported after reviewing the data of the country's nine ore
mines. According to the ministry's figures the output amounted to AMD
14.8 billion in Jan-Oct 2014. This is by 18.53% less than the amount
of the same period a year before. The paid royalty shrank 52.72%
to AMD 485 million. The Shahumyan Gold Polymetallic Mine is run by
the Deno Gold Mining that represents Canada's Dundee Precious Metals
in Armenia. The Kapan Mining and Refining Plant's copper and pyrites
mine is run by the Deno Gold Mining as well. Kapan field comprises
two sectors - a copper mine that is known as the Central Field and
a polymetallic mine of gold, copper, silver, zinc and lead, which
is known as Shahumyan Mine. Start in development of this mine was
announced yet in 1996, but actual excavation began only in 2002.
Dundee Precious Metals acquired 95% of the Kapan Mine in August 2006.
According to the Natianl Statistical Service of Armenia, the country's
ore output amounted to AMD 157.1 billion in Jan-Oct 2014 in Armenia
shrinking 8.4%, compared with the same period a year earlier. ($1 -
AMD 462.81). ---0------
http://arka.am/en/news/business/shahumyan_gold_polymetallic_mine_s_output_shrinks_ 13_07_to_340_000_tons_in_jan_oct_/#sthash.veP0ar1P.dpuf
YEREVAN, December 15. /ARKA/. The Shahumyan Gold Polymetallic
Mine's output totaled 340,000 tons in Jan-Oct 2014 showing a 13.07%
year-on-year decline, the Armenian Energy and Natural Resources
Ministry reported after reviewing the data of the country's nine ore
mines. According to the ministry's figures the output amounted to AMD
14.8 billion in Jan-Oct 2014. This is by 18.53% less than the amount
of the same period a year before. The paid royalty shrank 52.72%
to AMD 485 million. The Shahumyan Gold Polymetallic Mine is run by
the Deno Gold Mining that represents Canada's Dundee Precious Metals
in Armenia. The Kapan Mining and Refining Plant's copper and pyrites
mine is run by the Deno Gold Mining as well. Kapan field comprises
two sectors - a copper mine that is known as the Central Field and
a polymetallic mine of gold, copper, silver, zinc and lead, which
is known as Shahumyan Mine. Start in development of this mine was
announced yet in 1996, but actual excavation began only in 2002.
Dundee Precious Metals acquired 95% of the Kapan Mine in August 2006.
According to the Natianl Statistical Service of Armenia, the country's
ore output amounted to AMD 157.1 billion in Jan-Oct 2014 in Armenia
shrinking 8.4%, compared with the same period a year earlier. ($1 -
AMD 462.81). ---0------
http://arka.am/en/news/business/shahumyan_gold_polymetallic_mine_s_output_shrinks_ 13_07_to_340_000_tons_in_jan_oct_/#sthash.veP0ar1P.dpuf