Armenia’s Zangezur Copper and Molybdenum Combine intends to launch large complex of ore crushers in September
30.05.2011,
18:05
Armenia’s Zangezur Copper and Molybdenum Combine is going to launch the biggest in the region complex of ore crushers in September, the company reported Friday after an annual meeting of its shareholders.
YEREVAN, May 30. /ARKA/. Armenia’s Zangezur Copper and Molybdenum Combine is going to launch the biggest in the region complex of ore crushers in September, the company reported Friday after an annual meeting of its shareholders.
The company views enlargement of its capacity as one of the key focuses of its development.
$350 million has been invested in the combine under various programs since Dec 14, 2004 (the privatization agreement was signed – ARKA).
These investments have ensured 75% industrial capacity growth.
Now the combine can process 14 million tons of ore every year.
At their meeting, shareholders decided to launch the next stage of re-equipment to enlarge capacity to 20 million tons.
Gunter Pilarsky, President of German’s Cronimet Group and Honorary Consul of Armenia in Baden-Württemberg, was present at the meeting.
The Cronimet holds 60% of the Zangezur Copper and Molybdenum Combine’s shares, 15% belong to Pure Iron Plant OJSC.
Armenian Molybdenum Production CJSC and Zangezur Mining Ltd hold the remaining 25% – 12.5% each. -0-
The company views enlargement of its capacity as one of the key focuses of its development.
$350 million has been invested in the combine under various programs since Dec 14, 2004 (the privatization agreement was signed – ARKA).
These investments have ensured 75% industrial capacity growth.
Now the combine can process 14 million tons of ore every year.
At their meeting, shareholders decided to launch the next stage of re-equipment to enlarge capacity to 20 million tons.
Gunter Pilarsky, President of German’s Cronimet Group and Honorary Consul of Armenia in Baden-Württemberg, was present at the meeting.
The Cronimet holds 60% of the Zangezur Copper and Molybdenum Combine’s shares, 15% belong to Pure Iron Plant OJSC.
Armenian Molybdenum Production CJSC and Zangezur Mining Ltd hold the remaining 25% – 12.5% each. -0-
