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GeoProMining Group Company Vice President Sergey Nosov stated the rehabilitation and modernization of Ararat gold recovery factory (belonging to GeoProMining Company Group) will launch early in July 2011. GeoProMining expects to finish reconstruction in the factory and Sotq mine at the end of the first quarter of 2013. “Projected capital expenses have been calculated in the amount of US $ 100 mln, and as a result, the factory will process 1 million ton of ore per year so as to obtain 140,000 – 150,000 ounces of gold (about 4,5-4,7 tons),” Nosov said.
April 27, 2011 at 12:34