Interfax
Aug 12 2004

Mining industry output down 4.7% in Armenia in H1

Yerevan. (Interfax) – Armenian mining enterprises produced product
worth 62.14 billion dram ($120 million) in the first half of 2004,
4.7% less year-on-year, the country’s Trade and Economic Development
Ministry told Interfax.

This drop was attributable to the aluminum foil plant Armenal, a
major sector producer, being idle since the start of the year.

Mining enterprises sold 60.586 billion dram worth of product in the
reporting period, 62% more year-on-year and reflecting high world
metal prices. Armenian product exports increased 50.7% to 47.455
billion dram. The sector employs 7,737 workers.