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Armenia's Agarak Copper and Molybdenum Combine Steps Up Output

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  • Armenia's Agarak Copper and Molybdenum Combine Steps Up Output

    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
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