ArmInfo
Fortune Oil PLC (FTO.LN), an oil and gas company announced Monday the appointment of Jerry Gorman as Project Director for its Armenia iron ore investment with effect from October 1, 2011. Dow Jones reports.
Gorman has more than 30 years of mining and metals experience with a proven track record of successfully building, operating and delivering metallurgical and mining projects in South America, Africa and Europe. Prior to his appointment, Jerry spent 9 years with Eurasian Natural Resources Corporation (ENRC.LN) and its subsidiary companies in various roles. Gorman will now be responsible and accountable for successfully developing both the Hrazdan and Abovyan mines.
He will be Fortune Oil's most senior representative based in Armenia and will be the key individual liaising with all of the Group's strategic alliance partners including SRK Consulting (U.K.), ProMet Engineers (Australia), Sinosteel Group (China), local Government and other relevant authorities including the Chinese Embassy.
This appointment significantly strengthens the Company's operational experience as it looks to successfully deliver the iron ore project in Armenia.
As it was reported earlier the Chinese Fortune Oil company is going to invest about 0 mln in development of iron-ore deposits in Armenia.
To note, three iron-ore deposits are in the Armenian towns Razdan, Abovyan and Svarants village, the preliminary stores of which are 77 mln tones in Razdan, 255 mln tones in Abovyan and 1500 mln tones in Svarants. The Chinese Fortune Oil company has recently bought 35% shares of the Bounty Resources Armenia, which it its turn possesses the rights for mining of the three above-mentioned deposits of Armenia and paid mln for the package.
August 25, 2011 at 13:01