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ARMENIA'S GEOPROMINING PLANNING TO INCREASE YIELD TO 130,000 OUNCES IN 2015
YEREVAN, April 29. /ARKA/. The GeoProMining (GPM) is planning to
increase annual gold production in Armenia from the current 50,000
ounces to 120-130,000 ounces in 2015, president of GPM Roman Khudoliy
told reporters. Yesterday's commissioning of the new 'Albion"
technology at Ararat Gold Recovery Factory will contribute to it,
according to Khudoliy.
The commissioning ceremony was attended by Armenia's president Serzh
Sargsyan. The company has invested $140 million since 2009 in the
introduction of this innovative technology. The factory has installed
equipment from 52 countries and its construction involved 27 companies.
The Albion technology, developed by Australian Xstrata Technology
and Core Process Engineering companies will significantly increase
extraction of metal from refractory sulfide ores in Sotk gold field.
Khudoliy also said when GeoProMining bought the factory in 2008 the
yield was 2,000 ounces only. "The taxes we paid then were less than
a million of dollars, whereas no we are paying 19 million (dollars)
in taxes", Khudoliy said.
GeoProMining owns two assets in Armenia - the Agarak Copper and
Molybdenum Combine and GPM Gold. The latter is developing the Sotk
gold mine and runs the Ararat Gold Recovery Factory. -0-
- See more at:
http://arka.am/en/news/economy/armenia_s_geopromining_planning_to_increase_yield_ to_130_000_ounces_in_2015/#sthash.7YqrQXns.dpuf
YEREVAN, April 29. /ARKA/. The GeoProMining (GPM) is planning to
increase annual gold production in Armenia from the current 50,000
ounces to 120-130,000 ounces in 2015, president of GPM Roman Khudoliy
told reporters. Yesterday's commissioning of the new 'Albion"
technology at Ararat Gold Recovery Factory will contribute to it,
according to Khudoliy.
The commissioning ceremony was attended by Armenia's president Serzh
Sargsyan. The company has invested $140 million since 2009 in the
introduction of this innovative technology. The factory has installed
equipment from 52 countries and its construction involved 27 companies.
The Albion technology, developed by Australian Xstrata Technology
and Core Process Engineering companies will significantly increase
extraction of metal from refractory sulfide ores in Sotk gold field.
Khudoliy also said when GeoProMining bought the factory in 2008 the
yield was 2,000 ounces only. "The taxes we paid then were less than
a million of dollars, whereas no we are paying 19 million (dollars)
in taxes", Khudoliy said.
GeoProMining owns two assets in Armenia - the Agarak Copper and
Molybdenum Combine and GPM Gold. The latter is developing the Sotk
gold mine and runs the Ararat Gold Recovery Factory. -0-
- See more at:
http://arka.am/en/news/economy/armenia_s_geopromining_planning_to_increase_yield_ to_130_000_ounces_in_2015/#sthash.7YqrQXns.dpuf