RIA OREANDA
Economic News
December 31, 2004 Friday

Armenia's Agarak Copper and Molybdenum Combine Steps Up Output


Agarak. OREANDA/RUSMET.RU Beginning with January 1, 2005, Armenias
Agarak Copper and Molybdenum Combine will begin increasing its ore
production volumes to 3 million tons per year, enough to produce
700,000 tons of molybdenum concentrate and 6,000 tons of copper
concentrate.

The American company Comsup Industries Ltd, which owns a 100% stake
in the combine, has already invested $3 million in the combine under
its agreement with the Armenian government. It has yet to invest
$500,000 in the modernization project. According to combine director
Mais Khachatrian, all of this money has been directed to reequip the
production facilities.

From: Emil Lazarian | Ararat NewsPress