Some $200 million to be invested in tailings processing project in Armenia
16.10.2014,
15:18
The Armenian government and several privately-owned companies will invest about $200 million in a metallic mines tailings processing project, a deputy minister of energy and natural resources Levon Shahverdyan told a Cabinet session.
YEREVAN, October 16. / ARKA /. The Armenian government and several privately-owned companies will invest about $200 million in a metallic mines tailings processing project, a deputy minister of energy and natural resources Levon Shahverdyan told a Cabinet session.
These companies are Cronimet Mining, the Zangezur copper and molybdenum combine, VSEL group of companies and Aletig LLC. A relating memorandum of intention was approved today by the Cabinet.
According to the deputy minister, under the memorandum the government and the companies are to implement a productive and deep processing of tailings and dumps rocks accumulated during the extraction of metallic minerals.
Levon Shahverdyan said a new technology will be used to process the tailings securing 98% wastes treatment purity.
The deputy minister said also a working group will be set up until December to conduct an assessment of the project and also look into a possible legislation adjustment. It will be given two months to prepare and submit to the government a business plan. The deputy minister said this project would create about 1,800 new jobs.
According to the National Statistical Service, Armenia’s mining industry in January-August amounted to 127.9 billion drams, an 11 percent down year-on-year.-0-
