News.am
“Fortune Oil” Chinese Company is very glad to proceed to a new resource strategy implementation by making investments in three iron-ore mines in Armenia. This statement was declared by “Fortune Oil” Executive Director Tee Kiam Poon.
“Fortune Oil” Company is quoted in London and located in Hong Kong, which invests in oil and gas projects in China, and on 12 January it invested \$ 24 to obtain 35% of Bounty Resources Armenia Limited that controls three iron-ore mines in Armenia.
These three iron-ore mines are located in Hrazdan, Abovyan and Svarants and have approved probable and estimated resources of 77 million tons in Hrazdan, 255 millions tons in Abovyan and 1500 million tons in Svarants.
January 17, 2011