GeoProMining lays foundation stone for new ore dressing line at Ararat gold recovery factory
06.07.2011,
22:30
In the presence of President Serzh Sargsyan GeoProMining (GPM) company laid today the foundation stone of a new ore dressing line at Ararat gold recovery factory.
ARARAT, July 6. / ARKA /. In the presence of President Serzh Sargsyan GeoProMining (GPM) company laid today the foundation stone of a new ore dressing line at Ararat gold recovery factory.
Thanks to Albion technology, developed by Xstrata Technology (Australia) with the support of Core Process Engineering (Australia) allowing to significantly increase extraction of metal from refractory sulfide ores in Sotk field, the production can reach up to 150, 000 ounces of gold per year. GPM plans to complete the project in 2013.
The company’s modernization program meets the highest international environmental standards, as evidenced by the participation of leading experts in the field of environmental protection -Fraser Alexander (South Africa), Epoch (South Africa) and Digby Wells Environment (South Africa).
The project also involves Snowden (Australia), engaged in the development of most effective use of Sotk field. All necessary licenses and permits from the Armenian authorities will be obtained in due course.
During the ceremony GPM president Roman Khudoliy said sustainable development of the production with respecting the interests of all parties is one of the most important strategic priorities of GeoProMining.
GeoProMining owns two assets in Armenia Agarak Copper and Molybdenum Combine and GPM Gold. The second is developing the Sotk gold mine and runs the Ararat Gold Recovery Factory.
The total amount of planned investment over the next three years in GPM Gold and Agarak Copper and Molybdenum Combine is about 120 million U.S. dollars. GPM has already spent $260 million on the acquisition and modernization of its enterprises in Armenia. The planned investment in Ararat gold recovery plant will enable to increase the volume of ore processing from Sotk without building an additional recovery plant near the deposit. Armenia is the second country where Albion technology is being used. The first was the Dominican Republic. -0-
Thanks to Albion technology, developed by Xstrata Technology (Australia) with the support of Core Process Engineering (Australia) allowing to significantly increase extraction of metal from refractory sulfide ores in Sotk field, the production can reach up to 150, 000 ounces of gold per year. GPM plans to complete the project in 2013.
The company’s modernization program meets the highest international environmental standards, as evidenced by the participation of leading experts in the field of environmental protection -Fraser Alexander (South Africa), Epoch (South Africa) and Digby Wells Environment (South Africa).
The project also involves Snowden (Australia), engaged in the development of most effective use of Sotk field. All necessary licenses and permits from the Armenian authorities will be obtained in due course.
During the ceremony GPM president Roman Khudoliy said sustainable development of the production with respecting the interests of all parties is one of the most important strategic priorities of GeoProMining.
GeoProMining owns two assets in Armenia Agarak Copper and Molybdenum Combine and GPM Gold. The second is developing the Sotk gold mine and runs the Ararat Gold Recovery Factory.
The total amount of planned investment over the next three years in GPM Gold and Agarak Copper and Molybdenum Combine is about 120 million U.S. dollars. GPM has already spent $260 million on the acquisition and modernization of its enterprises in Armenia. The planned investment in Ararat gold recovery plant will enable to increase the volume of ore processing from Sotk without building an additional recovery plant near the deposit. Armenia is the second country where Albion technology is being used. The first was the Dominican Republic. -0-
