About AMD 11 Million Invested By Gpm Gold Company In Armenian Ararat City’s Budget In 2011
07.07.2011,
02:49
GeoProMining Gold (GPM Gold) company invested about AMD 11 million in Armenian Ararat city’s budget in 2011, the city mayor, Abram Babayan said Wednesday
YEREVAN, July 6. /ARKA/. GeoProMining Gold (GPM Gold) company invested about AMD 11 million in Armenian Ararat city’s budget in 2011, the city mayor, Abram Babayan said Wednesday at a ceremony for laying the foundation stone of a new ore dressing line at Ararat gold recovery factory. The ceremony was attended by Armenian President Serzh Sargsyan.
“This money has been spent for purchasing a garbage-collecting vehicle and for providing assistance to low-income families,” he said.
Babayan said that GPM Gold contributes a great deal to development of Ararat city. The company is doing its business above board – it transfers about AMD 3.6 million to the government budget every year as land and property taxes.
Speaking about introduction of new technology in the plant, the mayor said that 200 new jobs would be created here thanks to this.
“About 80% of the community’s population is working at the plant now,” he said.
During the ceremony GPM president Roman Khudoliy said that the GPM Gold company has 735 employed people now against 680 a year earlier.
He said the introduction of the new technology would create other 130 jobs here. Average salary at the plant is AMD 165,000.
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.
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. ($1 = AMD 369.41). --0—
“This money has been spent for purchasing a garbage-collecting vehicle and for providing assistance to low-income families,” he said.
Babayan said that GPM Gold contributes a great deal to development of Ararat city. The company is doing its business above board – it transfers about AMD 3.6 million to the government budget every year as land and property taxes.
Speaking about introduction of new technology in the plant, the mayor said that 200 new jobs would be created here thanks to this.
“About 80% of the community’s population is working at the plant now,” he said.
During the ceremony GPM president Roman Khudoliy said that the GPM Gold company has 735 employed people now against 680 a year earlier.
He said the introduction of the new technology would create other 130 jobs here. Average salary at the plant is AMD 165,000.
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.
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. ($1 = AMD 369.41). --0—
