ArmInfo
Agarak Copper-Molybdenum Combine intends to extract about 1,45 mln tons of ore in 2009, President of GeoProMining Group Roman Khudoliy told ArmInfo. 'In the pure state, it will make up about 3 - 3,5 thsd tons of copper and 500 tons of molybdenum', R. Khudoliy said. According to him, it is currently difficult to make long-term forecasts regarding the world prices for metals. However, extremely low indicators - \\$ 2,8 thsd per ton of copper and \\$ 18,000 per ton of molybdenum have already been passed. , he added.
To recall, the government of Armenia made a decision at the visiting session in Kapan, Syunik region, on June 26, on extension of a budget credit to 'Agarak Copper- Molybdenum Combine' CJSC to the sum of \\$ 14 mln for a 4-year period at Libor + 8 semi-annual rate. The funds have been allocated within the frames of the Russian stabilization credit of \\$ 500 mln provided to Armenia.
GeoProMining Group of companies is an international private company founded in 2001. It has a diversified resource metal base. The Company produces gold in the form of a "dore" alloy, as well as copper, molybdenum and antimonic concentrates. "GeoProMining" extracts metals in Russia, Armenia and Georgia. Sot gold-bearing mine, Ararat gold concentration plant and Agarak Copper Molybdenum Combine are the main assets of the Company in Armenia.
June 30, 2009