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THE START OF EXPLOITATION OF TEGHUT COPPER-MOLYBDENUM DEPOSIT IN ARMENIA REQUIRES $ 150MLN, A SPECIALIST THINKS
ArmInfo News Agency, Armenia
Oct 9 2007
ArmInfo. The start of exploitation of Teghut copper-molybdenum
deposit in the North of Armenia requires $ 150mln, as a minimum,
the Head of the Department of Nature Utilization Economy and Mining
Industry of the Armenian Ministry of Trade and Economic Development
Artur Ashoughyan said at a press conference, Tuesday.
According to him, years will pass before the investor starts to make
profit from the deposit's exploitation. He named Teghut a difficult
deposit in view of complete absence of ways of communication. Teghut is
the second largest copper and molybdenum deposit in Armenia following
the one in Kajaran. However, there are no roads, power transmission
lines, dams, tailing damps and other necessary ways of communication
there, he said. A. Ashoughyan thinks it necessary to implement this
project, which may create a sufficient raw material base in Armenia
and ensure development of the mining sphere.
To note, the Russian Vneshtorgbank-VTB (Bank for Foreign Trade) is
ready to grant a credit of $200mln to Armenia Copper Programme (ACP)
for commissioning Teghut deposit. Gaining of credit will make it
possible to mine and process 7mln tons of ore from Teghut deposit,
annually. Teghut deposit is promising and it is the second with
its copper and molybdenum reservoirs in Armenia following the one
in Kajaran. The approved reserves make up 1,6mln tons of copper and
99 000 tons of molybdenum. The contents of copper in a ton of ore is
0,4% and in the concetrate-33%. The contents of molybdenum in a ton
of ore is 0,02%, and in the concentrate-51%".
ArmInfo News Agency, Armenia
Oct 9 2007
ArmInfo. The start of exploitation of Teghut copper-molybdenum
deposit in the North of Armenia requires $ 150mln, as a minimum,
the Head of the Department of Nature Utilization Economy and Mining
Industry of the Armenian Ministry of Trade and Economic Development
Artur Ashoughyan said at a press conference, Tuesday.
According to him, years will pass before the investor starts to make
profit from the deposit's exploitation. He named Teghut a difficult
deposit in view of complete absence of ways of communication. Teghut is
the second largest copper and molybdenum deposit in Armenia following
the one in Kajaran. However, there are no roads, power transmission
lines, dams, tailing damps and other necessary ways of communication
there, he said. A. Ashoughyan thinks it necessary to implement this
project, which may create a sufficient raw material base in Armenia
and ensure development of the mining sphere.
To note, the Russian Vneshtorgbank-VTB (Bank for Foreign Trade) is
ready to grant a credit of $200mln to Armenia Copper Programme (ACP)
for commissioning Teghut deposit. Gaining of credit will make it
possible to mine and process 7mln tons of ore from Teghut deposit,
annually. Teghut deposit is promising and it is the second with
its copper and molybdenum reservoirs in Armenia following the one
in Kajaran. The approved reserves make up 1,6mln tons of copper and
99 000 tons of molybdenum. The contents of copper in a ton of ore is
0,4% and in the concetrate-33%. The contents of molybdenum in a ton
of ore is 0,02%, and in the concentrate-51%".