ArmInfo
"Agarak copper-molybdenum combine" CJSC is planning to invest in the reconstruction of the company until 2012, nearly 10 million dollars, Director General Sergei Polovinkin said in an interview with ArmInfo.
According to him, this is a preliminary project cost of reconstruction, since the prices of the necessary construction materials, particularly metal and concrete, are going up rapidly, and estimates may increase. He noted that the project is actively undergoing the last stage - the mandatory part of the expertise. In the near future construction works will start at full speed. By the end of February groundwork will begin. Reconstruction involves restoration of metal and concrete constructions and will be completed till the end of 2012. Modernization of the enterprise will reduce production self-costs, although in the conditions of price increase it is difficult to say exactly how much, said Director General. He added that after the reconstruction material, electricity and reagents consumption will reduce, whereas extraction of metals from will increase by 3-5%. In addition, he added, the reconstruction will improve environmental performance and will reduce the accident rate. For environmental reasons, it is planned to establish a close cycle in which the used water will circulate through a close system. In accordance with the project, more than \$ 3 million will be invested only for environmental protection, said Polovinkin. In economic terms, the reconstruction project will increase project design capacity in 2012 to 3.5 million tons of ore per annum against the present 3 million tons, he added. According to him, the company plans to attract investments for reconstruction through loans and invest own funds.
In 2009, in order to overcome the global economic crisis, the Government of Armenia provided Agarak CMC a government loan of \$ 14 million. The loan is fully used and is being repaid according to schedule starting from December 2009. It has been used to modernize the company and we bought mining and flotation equipments. Note that the group "GeoProMining" acquired the shares of Agarak copper-molybdenum plant in December 2007. "Agarak copper-molybdenum combine" CJSC operates Agarak mine and concentratation plant. Reserves of the deposit are assessed for more than 20 years. Productivity of the plant is about 3 million tons of ore per year, with the content of 0,41% copper and 0.022% molybdenum. The design capacity of processing plant is 24,000 tons of ore per month. Agarak CMC is in the process of implementing the investment program to modernize the company, scheduled for 2009-2012.
IN 2010 AGARAK CMC INCREASED ITS PRODUCTION MORE THAN TWICE
ArmInfo
In 2010 Agarak copper-molybdenum combine increased its production output compared to the year 2009 more than twice. About this, in an interview with ArmInfo correspondent said the General Director Sergei Polovinkin. According to his words, in 2010 was mined about 3 million tons of ore. This entire volume was processed and as a result the company produced 28,600 tons of copper concentrate and 530 tons of molybdenum concentrate, said the General Director. In 2009 the plant processed more than 1.3 million tons of ore, produced about 248 tonnes of molybdenum concentrate and 13,500 tonnes of copper concentrate.
"Comparison of course is not entirely accurate because in 2009 the first half we just idled and began to work and carry out the plan stably only in 2010. Practically all the major indexes rose in 2010, they are stripping, mining, processing and production of metals"said S.Polovinkin.
He added that in 2010 stripping operations were performed 2.2 million cubic meters, which was by 1.3 million cubic meters more than the plan of 2009. The General Director reported that in 2011 the company's management has set an even greater increase in stripping operations and plans to reach 2.5 million cubic meters. "In 2011 we plan to increase only stripping operations, but not processing. At this factory with its current technological equipment, we can not yet process more. Currently we fully use the designe capacity" said S.Polovinkin. He added that the increase in processing is scheduled to reach only in 2012 due to reconstruction of the concentration plant, which, in accordance with the schedule will be completed in February 2012. After the reconstruction, Agarak CMC will produce and process 3.5 million tonnes of ore per year, said S. Polovinkin.
Note that the group "GeoProMining" acquired the shares of Agarak copper-molybdenum plant in December 2007. "Agarak copper-molybdenum combine" CJSC operates Agarak mine and concentratation plant. Reserves of the deposit are assessed for more than 20 years. Productivity of the plant is about 3 million tons of ore per year, with the content of 0,41% copper and 0.022% molybdenum. The design capacity of processing plant is 240,000 tons of ore per month. Agarak
CMC is in the process of implementing the investment program to modernize the company, scheduled for 2009-2012.
EXPENSIVE BUT IMPORTANT PROGRAM
Melanya Barseghyan, the Aravot
If in 2009 the Agarak Copper and Molybdenum Combine took 83rd position in the lists of big tax payers by paying 723,593 million AMD, in 2010 the company paid taxes in the amount of 1,717,000,000 billion AMD and held the 42nd position. In 2010 3,02 tons of ore was mines which was completely processed, and 28,600 tons of copper and 530 tons of molybdenum was produced.
February 09, 2011