Robert Falletta appointed Kapan mine general manager
YEREVAN, February 13. /ARKA/. Robert Falletta has been appointed General Manager of Kapan Mine owned by the Deno Gold Mining Company.
Falletta’s appointment testifies to the fact that the company intends to continue its investment programs in Armenia, Deno Gold Mining press service reports.
Through immediate contacts with the RA President and Prime Minister, the company got added evidence that investments in Armenia will produce good results, according to the source. The company plans to contribute to the country’s sustainable development and attract foreign investors.
Robert Faletta brings over 35 years of mining experience to his new role. He is a professional mining engineer and has held increasingly senior roles in both underground and open pit operations in a variety of countries including the United States, Indonesia and Russia. Since 1997, Mr. Falletta has been based in Russia.
Originally working with Kinross Gold Corporation, he thereafter held a variety of positions culminating with his appointment as General Director of Omolon Gold in 2005. Before assuming his position with the Deno Gold Mining Robert Faletta held a position of General Director of Ozerniy GOK - a joint venture between Lundin Mining and MBC (Metropol) Russian Partners.
Dundee Precious Metals Inc. is a Canadian based, international mining company engaged in the acquisition, exploration, development and mining of precious metals.
The Deno Gold Mining Company is the representative of Dundee Precious Metals in Armenia. The mining operation is based on two deposits, a copper, minor gold-silver underground mine, known as Central, and a polymetallic deposit of gold, copper, silver, zinc and minor lead, known as Shahumyan, which remains open at depth, to the North and possibly to the South.
In 2002, Kapan Mine was sold to Deno Gold Mining at $3mln. The company had invested $120mln in Kapan Mine by late 2007.
The Deno Gold Mining Company will complete its investment program in Kapan Mine in 2008.
Production in the fourth quarter of 2006 totaled 1,288 ounces of gold, 0.3 million pounds of copper and 1.1 million pounds of zinc. The concentrate produced at Kapan is readily saleable due to the lack of impurities or deleterious elements.
The Company intends to expand the underground operations and introduce open pit mining to maximize the present mine milling capacity of over 1 million tons a year. –0--
