Deno Gold Mining company: investments in Armenian Kapan mine exploitation may reach $300 million
24.03.2008,
18:14
Investments in Armenian Kapan mine exploitation may reach $300 million. Deno Gold Mining company (DGMC) told ARKA News agency on Friday that Jonathan Goodman, the owner of Dundee Precious Metals company, the investmnets can reach the mentioed amount if th
YEREVAN, March 25. /ARKA/. Investments in Armenian Kapan mine exploitation may reach $300 million.
Deno Gold Mining company (DGMC) told ARKA News agency on Friday that Jonathan Goodman, the owner of Dundee Precious Metals company, the investmnets can reach the mentioed amount if the mine capacity is confirmed.
Canadian Dundee Precious Metals, one of the world biggest mining companies focusing on precious metals extraction, acquired 95% of DGMC’s shares in August 2006.
The company intends to embark on structural reformation soon to make Kapan mining up to international standards.
The company is going to invest several dozen dollars in Kapan field. At the first stage of the modernization, the explosive-producing mill was explored.
Studies showed that the conditions in this mill were not up to international safety norms and pose threat to workers’ lives.
Robert Faleta, general director of Kapan mine, said that the company authorities decided to close this mill and turn to more secure and profitable production.
He said greater attention must be paid to workers’ security. All 28 workers of the mill will receive compensations and benefits in accordance with the labor code.
The company authorities also said that they will make every effort to find them other jobs in Deno Gold Mining Company.
Dundee Precious Metals is represented by Deno Gold Mining Company, which exploits Shahumyan complex field and copper pyrite mine in Kapan.
After Kapan mine privatization in 2002, the monthly output was increased to 30000 tons. 1000 tons of minerals containing zinc, silver and gold are extracted from Shahumyan mine every day. The same volume of minerals containing copper is excavated from Central field.-0--
Deno Gold Mining company (DGMC) told ARKA News agency on Friday that Jonathan Goodman, the owner of Dundee Precious Metals company, the investmnets can reach the mentioed amount if the mine capacity is confirmed.
Canadian Dundee Precious Metals, one of the world biggest mining companies focusing on precious metals extraction, acquired 95% of DGMC’s shares in August 2006.
The company intends to embark on structural reformation soon to make Kapan mining up to international standards.
The company is going to invest several dozen dollars in Kapan field. At the first stage of the modernization, the explosive-producing mill was explored.
Studies showed that the conditions in this mill were not up to international safety norms and pose threat to workers’ lives.
Robert Faleta, general director of Kapan mine, said that the company authorities decided to close this mill and turn to more secure and profitable production.
He said greater attention must be paid to workers’ security. All 28 workers of the mill will receive compensations and benefits in accordance with the labor code.
The company authorities also said that they will make every effort to find them other jobs in Deno Gold Mining Company.
Dundee Precious Metals is represented by Deno Gold Mining Company, which exploits Shahumyan complex field and copper pyrite mine in Kapan.
After Kapan mine privatization in 2002, the monthly output was increased to 30000 tons. 1000 tons of minerals containing zinc, silver and gold are extracted from Shahumyan mine every day. The same volume of minerals containing copper is excavated from Central field.-0--
