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ORE PRODUCTION OUTPUT AT AGARAK COPPER-MOLYBDENUM COMBINE HIKED 11.8% IN JANUARY-OCTOBER
YEREVAN, December 15. /ARKA/. Ore production output at Armenia's
Agarak Copper-Molybdenum Combine totaled 2 million 868,000 tons in
January-October, an 11.78% increase from the same period of 2013,
says the ministry of energy report on nine key mining companies of
the country.
According to the ministry, commercial production at the combine
amounted to about 16.3 billion drams in the period, a 4.31% increase
from January-October 2013.
Royalties paid in the period were 58.24% lower compared to
January-October 2013, and amounted to about 430 million drams in the
reporting period.
Agarak Copper-Molybdenum Combine is a member of GeoProMining Group
of Companies founded in 2001. In 2009-2012 the combine was fully
modernized and reach a production output of 3.5 million tons of ore
per year.
GeoProMining produces rough gold as dore bars and copper, molybdenum
and antimony concentrates. GeoProMining companies operate in Russia and
Armenia. It owns two assets in Armenia - the Agarak Copper-Molybdenum
Combine and GPMGold, developing the Sotk gold mine and running Ararat
gold recovery factory.
Armenia's National Statistical Service says metal ore production output
in the country was 157.1 billion drams in January-October, a decrease
of 8.4% from the same period of last year. ($1 - 462.81 drams). -0--
http://arka.am/en/news/business/ore_production_output_at_agarak_copper_molybdenum_ combine_hiked_11_8_in_january_october/#sthash.YiZ7S9d7.dpuf
YEREVAN, December 15. /ARKA/. Ore production output at Armenia's
Agarak Copper-Molybdenum Combine totaled 2 million 868,000 tons in
January-October, an 11.78% increase from the same period of 2013,
says the ministry of energy report on nine key mining companies of
the country.
According to the ministry, commercial production at the combine
amounted to about 16.3 billion drams in the period, a 4.31% increase
from January-October 2013.
Royalties paid in the period were 58.24% lower compared to
January-October 2013, and amounted to about 430 million drams in the
reporting period.
Agarak Copper-Molybdenum Combine is a member of GeoProMining Group
of Companies founded in 2001. In 2009-2012 the combine was fully
modernized and reach a production output of 3.5 million tons of ore
per year.
GeoProMining produces rough gold as dore bars and copper, molybdenum
and antimony concentrates. GeoProMining companies operate in Russia and
Armenia. It owns two assets in Armenia - the Agarak Copper-Molybdenum
Combine and GPMGold, developing the Sotk gold mine and running Ararat
gold recovery factory.
Armenia's National Statistical Service says metal ore production output
in the country was 157.1 billion drams in January-October, a decrease
of 8.4% from the same period of last year. ($1 - 462.81 drams). -0--
http://arka.am/en/news/business/ore_production_output_at_agarak_copper_molybdenum_ combine_hiked_11_8_in_january_october/#sthash.YiZ7S9d7.dpuf