GPM Gold director general: Sotk gold mine’s annual output may reach 1 million tons due to modernization
03.03.2011,
16:22
Sotk gold mine’s annual output may be increased to 1 million tons due to modernization that is underway at Armenia’s GPM GOLD Company, Vladimir Kozlov, Director General of the company, said in an interview with ARKA News Agency.
YEREVAN, March 3. /ARKA/. Sotk gold mine’s annual output may be increased to 1 million tons due to modernization that is underway at Armenia’s GPM GOLD Company, Vladimir Kozlov, Director General of the company, said in an interview with ARKA News Agency.
“A great deal will depend on content of metal in the ore,” he said. “Content is estimated to be at least 4 to 4.5 gram in one ton.”
Under the modernization program launched in 2009, $100 million will be invested.
GPM GOLD Company has signed contracts with Core Resources and Xstrata Technology leading international companies on development and introduction of Albion innovative technology in Ararat gold recovery plant.
This technology offers an effective and simple way of processing sulfide ores. This ensures extraction of maximum metal from ores.
Kozlov said that terms are already set, and 60% of the banking feasibility study on reconstruction of the plant is carried out.
“We think that we’ll have it in May or June 2011, and construction will be launched in summer,” he said in his interview.
He added that according to the schedule, Albion technology would be put in usage in the first quarter 2013.
The Director General also said that $10 million is planned to be invested this year for purchasing equipment for the mine, design of Albion technology and construction.
He said that the bulk of investments would be made in 2012, since their major part is intended for acquisition of flotation facilities.
Construction of workshops is planned to be completed in 2012-2013.
Speaking about environmental component of the project, Kozlov said that independent experts of South-African DigbyWells, one of the leading world environment-monitoring companies, have been involved in its development.
“Upon release of banking feasibility study’s results the company will make its conclusion on introduction of this project,” he said.
The number of the company’s employees is expected to rise from 752 to 810 later this year.
“We will have two large processes in Ararat – Albion, which also needs prerequisite ore flotation,” Kozlov said. The number of workers will be raised for launching these two workshops.”
The same will be done also for the mine.
GPM GOLD is developing Sotk gold mine and Ararat gold recovery plant. It is part of Russian GeoProMining group of companies. GeoProMining acquired 100% of Sterlite Gold Ltd from international Vedanta Resources in 2007 September. Sterlite Gold Ltd was the only owner of AGRC that was later renamed GPM GOLD.—0--
“A great deal will depend on content of metal in the ore,” he said. “Content is estimated to be at least 4 to 4.5 gram in one ton.”
Under the modernization program launched in 2009, $100 million will be invested.
GPM GOLD Company has signed contracts with Core Resources and Xstrata Technology leading international companies on development and introduction of Albion innovative technology in Ararat gold recovery plant.
This technology offers an effective and simple way of processing sulfide ores. This ensures extraction of maximum metal from ores.
Kozlov said that terms are already set, and 60% of the banking feasibility study on reconstruction of the plant is carried out.
“We think that we’ll have it in May or June 2011, and construction will be launched in summer,” he said in his interview.
He added that according to the schedule, Albion technology would be put in usage in the first quarter 2013.
The Director General also said that $10 million is planned to be invested this year for purchasing equipment for the mine, design of Albion technology and construction.
He said that the bulk of investments would be made in 2012, since their major part is intended for acquisition of flotation facilities.
Construction of workshops is planned to be completed in 2012-2013.
Speaking about environmental component of the project, Kozlov said that independent experts of South-African DigbyWells, one of the leading world environment-monitoring companies, have been involved in its development.
“Upon release of banking feasibility study’s results the company will make its conclusion on introduction of this project,” he said.
The number of the company’s employees is expected to rise from 752 to 810 later this year.
“We will have two large processes in Ararat – Albion, which also needs prerequisite ore flotation,” Kozlov said. The number of workers will be raised for launching these two workshops.”
The same will be done also for the mine.
GPM GOLD is developing Sotk gold mine and Ararat gold recovery plant. It is part of Russian GeoProMining group of companies. GeoProMining acquired 100% of Sterlite Gold Ltd from international Vedanta Resources in 2007 September. Sterlite Gold Ltd was the only owner of AGRC that was later renamed GPM GOLD.—0--
