President of mining company GPM: gold production volume in the new plant of the company GPM Gold in Ararat will be 150 ounces by 2014
06.07.2011,
22:26
Gold production volume in the new line of Ararat gold recovery plant will be 150 thousand ounces starting from 2014, said the president of mining company GPM Roman Khudoliy to the journalists on Wednesday.
YEREVAN, July 6. /ARKA/. Gold production volume in the new line of Ararat gold recovery plant will be 150 thousand ounces starting from 2014, said the president of mining company GPM Roman Khudoliy to the journalists on Wednesday. Innovation technology “Albion” being a part of large-scale program of modernization of GPM assets in Armenia will improve productivity of the company by keeping high ecological standards.
“If this year 40 thousand ounces of gold is planned, in 2013 we will have 120 thousand ounces with this technology. By 2014 we will have 150 thousand ounces of gold production”, said Khudoliy.
Due to the technology “Albion” developed by the company Xstrata Technology (Australia) with the support of Core Process Engineering (Australia) and allowing to significantly increase mining of metal from hard sulfide mine of Sotq subsoil, gold production volume could be 150 000 ounces of gold annually. GPM plans to finish the project in 2013.
Speaking about the investments, he said that in accordance with the signed documents with Xstrata Technology (Australia) and Core Process Engineering (Australia), the investment volume exceeds 100 million dollars.
“I think that this figure will be significantly high as we had to perform some works of provision of uninterrupted work of the plant”, said Khudoliy.
“As for the direct investments in the production, we have already invested 39 million dollars. Only this year we spent 12 million dollars for “Albion””, he said.
Two companies belong to GeoProMining in Armenia – Agarak copper-molybdenum plant and the company GPM Gold processing Sotq subsoil and managing Ararat gold recovery plant.
Total volume of planned investments in the next three years in GPM Gold and Agarak copper-molybdenum plant is about 120 million US dollars. GPM invested about 260 million dollars in the purchase and modernization of companies in Armenia.
Planned investments in Ararat gold recovery plant allows GPM Gold to increase the volume of processed ore. Construction of processing plant in the subsoil is not required.
By the results of detailed analysis of Sotq subsoil GPM decided to change the processing technology which will allow to provide high level of gold mining. The company also invests significant resources in minimization of impact on the environment.
GeoProMining obtained 100% shares of the company Sterlite Gold Ltd from the company Vedanta Resources in September 2007.
Sterlite Gold Ltd is the only owner of AGRC (Ararat Gold Processing Company). Currently AGRC is renamed into GPM GOLD (GeoProMining Gold).
GeoProMining was established in 2001 which is an international private company with differentiated resource base of metals. GeoProMining produces gold in the form of alloy “Dore”, copper, molybdenum and antimonial concentrates.
GeoProMining companies are located in Russia, Armenia and Georgia. --0--
“If this year 40 thousand ounces of gold is planned, in 2013 we will have 120 thousand ounces with this technology. By 2014 we will have 150 thousand ounces of gold production”, said Khudoliy.
Due to the technology “Albion” developed by the company Xstrata Technology (Australia) with the support of Core Process Engineering (Australia) and allowing to significantly increase mining of metal from hard sulfide mine of Sotq subsoil, gold production volume could be 150 000 ounces of gold annually. GPM plans to finish the project in 2013.
Speaking about the investments, he said that in accordance with the signed documents with Xstrata Technology (Australia) and Core Process Engineering (Australia), the investment volume exceeds 100 million dollars.
“I think that this figure will be significantly high as we had to perform some works of provision of uninterrupted work of the plant”, said Khudoliy.
“As for the direct investments in the production, we have already invested 39 million dollars. Only this year we spent 12 million dollars for “Albion””, he said.
Two companies belong to GeoProMining in Armenia – Agarak copper-molybdenum plant and the company GPM Gold processing Sotq subsoil and managing Ararat gold recovery plant.
Total volume of planned investments in the next three years in GPM Gold and Agarak copper-molybdenum plant is about 120 million US dollars. GPM invested about 260 million dollars in the purchase and modernization of companies in Armenia.
Planned investments in Ararat gold recovery plant allows GPM Gold to increase the volume of processed ore. Construction of processing plant in the subsoil is not required.
By the results of detailed analysis of Sotq subsoil GPM decided to change the processing technology which will allow to provide high level of gold mining. The company also invests significant resources in minimization of impact on the environment.
GeoProMining obtained 100% shares of the company Sterlite Gold Ltd from the company Vedanta Resources in September 2007.
Sterlite Gold Ltd is the only owner of AGRC (Ararat Gold Processing Company). Currently AGRC is renamed into GPM GOLD (GeoProMining Gold).
GeoProMining was established in 2001 which is an international private company with differentiated resource base of metals. GeoProMining produces gold in the form of alloy “Dore”, copper, molybdenum and antimonial concentrates.
GeoProMining companies are located in Russia, Armenia and Georgia. --0--
