New Albion Technology To Make Geopromining Company One Of Three Largest Russian Investors In Armenia
07.07.2011,
02:07
Introduction of Albion technology at Ararat Gold Recovery factory will enable the GeoProMining (GPM) company to join the list of the three largest Russian investors in Armenia in terms of accumulated investment.
YEREVAN, July 6. / ARKA /. Introduction of Albion technology at Ararat Gold Recovery factory will enable the GeoProMining (GPM) company to join the list of the three largest Russian investors in Armenia in terms of accumulated investment, GPM board chairman Siman Povarenkin said today during a ceremony for laying the foundation stone of a new ore dressing line at Ararat gold recovery factory. The ceremony was attended by president Serzh Sargsyan.
The unique technology which is part of GPM’s ambitious program of modernization of its Armenian assets will improve operational efficiency for the enterprise while maintaining high environmental standards.
"The project is very important in the context of Russian-Armenian relations," said Povrenkin.
According to him, preparations for the construction of the new plant proceeded for the last two years with the participation of leading international consultants in the field of ecology, as well as in advanced innovative technological solutions.
"The new plant will be completely environmentally friendly. This is absolutely new technology of the 21st century," he said.
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.
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—
The unique technology which is part of GPM’s ambitious program of modernization of its Armenian assets will improve operational efficiency for the enterprise while maintaining high environmental standards.
"The project is very important in the context of Russian-Armenian relations," said Povrenkin.
According to him, preparations for the construction of the new plant proceeded for the last two years with the participation of leading international consultants in the field of ecology, as well as in advanced innovative technological solutions.
"The new plant will be completely environmentally friendly. This is absolutely new technology of the 21st century," he said.
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.
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—
