Armenia to compete with China, leader in cheap supply of pure magnesium

PanARMENIAN.Net - CEO of the Armenian Development Agency Robert Harutyunyan said a plant for pure magnesium production will be constructed in Armenia at the Yeghvard branch of Mergelyan Institute.

The place for the plant location is chosen due to proximity of railroad, which can be used for the output transportation in future, Harutyunyan told a PanARMENIAN.Net reporter.

According to him, Armenian scientists have developed a process for obtaining relatively cheap pure magnesium for export. “The project has reached the stage of investments, and negotiations are held with investors,” said Harutyunyan.

He noted that USD 1mln will be required for the first stage of the project, which envisages annual production of 300t of magnesium. The second stage is estimated to cost USD 6mln, with annual production of 10,000t of magnesium.

According to Harutyunyan, it will be even possible to produce 50,000t of magnesium annually if reserves located in the region of Sevan are used for it.

Harutyunyan said Russian and Iranian investors have already displayed interest in the project. “China is the leader in the field; it produces 500,000t of magnesium annually and secures its cheap supply. The Armenian project will allow competing with China,” he concluded.