GeoProMining to invest nearly $180 mln in Armenia within 2011-2012: Khudoly
26.04.2012,
15:46
Total investments of GeoProMining company in Armenia will reach nearly $180 million in 2011-2012, GPM President Roman Khudoly reported ARKA.
YEREVAN, April 26. /ARKA/. Total investments of GeoProMining company in Armenia will reach nearly $180 million in 2011-2012, GPM President Roman Khudoly reported ARKA.
“We can say that we have big investments, while bearing in mind Albion technology that we expect to launch in the first quarter of the next year. In total, investments in Albion will amount $80 million against $30 million last year,” Khudoly said.
Investments in Armenia will reach nearly $180 million in total, he said.
Albion is a unique technology that allows to process refractory sulfide ores and extract maximum of metals.
GeoProMining company, founded in 2001, is an international dynamically developing private enterprise with diverse resource metal base. GeoProMining produces gold as Dore alloy as well as copper, molybdenum and antimony concentrates.
In Armenia GeoProMining holds 100% stock of Agarak Copper and Molybdenum Combine and GPMGold company that processes Sotks gold deposit and runs Ararat Gold Extracting Factory. Over the recent 2 years GeoProMining invested over $260 million in GPMGold and Agarak Copper and Molybdenum Combine. —0--
