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Expert Proposes To Build $1.5-Billion Chemical And Ore-Smelting Plan

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  • Expert Proposes To Build $1.5-Billion Chemical And Ore-Smelting Plan

    EXPERT PROPOSES TO BUILD $1.5-BILLION CHEMICAL AND ORE-SMELTING PLANT IN ARMENIA

    YEREVAN, November 28. /ARKA/. Armenia's Union of Domestic Producers
    intends to submit a proposal to the government of construction of a
    chemical and metallurgical plant in Syunik province for recycling
    mining industry's wastes, Vazgen Safaryan, chairman of the union,
    said Wednesday at a news conference.

    In his words, the construction of the plant is estimated to cost
    about $1.5 billion.

    Safaryan stressed that within two or three years the plant will get
    back the money invested in construction and earn $2 billion in profits.

    "It would be possible to recycle 1.5 billion tons of ore wastes from
    tailing dump, and may be possible to extract additional 170 tons of
    selenium, 3.6 tons of gold, 140 tons of silver, iron and other metals
    and chemicals from them," he said.

    Safaryan said that it would be possible to export final products
    to China, for example, where such products are demanded. He said
    the plant will be able to export three to four tons of iron to this
    country every year.

    He added, however, that these investments will be justified only
    if Iran-Armenia railway is constructed and in the event of the
    government's participation in this project.

    Safaryan said that the plant will be able to employ 12,000 people.

    According to the National Statistical Service, metallic minerals
    worth AMD 140 billion have been mined in Armenia for three quarters
    of this year - 16.2% year-on-year growth.

    Non precious metals and articles of them worth $253.7 million were
    exported in Jan-Sept 2012.

    Three ore mining and processing plants - Zangezur Copper Molybdenum
    Combine (Kajaran), Kapan Ore-dressing Plant and Agarak Copper
    Molybdenum Plant - operate in Syunik province now. -0-

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