  Lusajur gold ore project attracts funds for further development July 12, 2012 - 16:03 AMT PanARMENIAN.Net - Russia’s Sberbank Capital acquired 49% of the stocks of the owner company of Lusajur gold ore project in Armenia’s Kotayk province. The ore extraction license belongs to Paramount Gold Mining Ltd, registered in Armenia. The remaining 51% of stocks belong to Armenian entrepreneur Tigran Arzakantsyan. Commercial operation of the gold ore deposit will be launched by yearend, with 0,7-1,0 tones of gold output expected in 2013. Ore processing plant with annual production capacity of 150 thousand tons of ore has been constructed as a part of the project. Purchase of mining equipment, construction of roads and other procedures to develop the infrastructure are currently in progress. Lusajur project is expected to create up to 450 high-paid jobs.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Armenia border residents dissatisfied with delimitation  Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan.“Great success”: Pashinyan pleased with new border protocol Pashinyan has described the signing by Armenia and Azerbaijan of a protocol on delimitation in Tavush as “a great success”.Armenia, Azerbaijan sign protocol on demarcation coordinates Armenia’s government took on May 15 another step towards handing over four border areas to Azerbaijan.U.S. warns Georgia not to side with Moscow against the west Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow. |
