July 19, 2010 - 12:09 AMT
PanARMENIAN.Net - During the first half of 2010, Agarak Copper-Molybdenum Combine CJSC (ACMC) increased the production of copper and molybdenum concentrates by 12.29% and 2.4% respectively as compared with the same period in 2009, bringing the production volumes to 15,159 tons of copper and 254 tons of molybdenum concentrates.
1487 596 tons of ore were extracted and 1445 634 tons were processed during the reporting period. Meanwhile, the volume of stripping operations amounted to 956,712 cubic meters that is 63% higher as compared with the targets for stripping operations, the press service of GeoProMining group of companies in Armenia reported.
The company reminded that from January to June 2009 ACMC did not carry out production activities. However, during the second half of 2009 the plant processed about 1.3 million tons of ore, producing about 248 tons of molybdenum and 13,500 tons of copper concentrates.
Currently, the combine is in the process of implementing an investment program aimed at technical re-equipment of the deposit and reconstruction of the plant, what will allow increasing ore extraction and processing volumes from the current 3 million tons to 3.5 million, as well as reducing production cost by 10%.
GeoProMining group of companies acquired the shares of Agarak Copper-Molybdenum Combine in December 2007. GeoProMining specializes in extraction and processing of polymetallic ores (copper, molybdenum, antimony) and precious metals (gold, silver). The company's deposits and processing plants are located in Armenia, Georgia, Russia