RA PM RECEIVED PRESIDENT OF THE BOARD OF DIRECTORS OF THE "GLOBAL STEAL HOLDINGS"

Public Radio of Armenia
Sept 26 2006

RA Prime Minister Andrani Margaryan received today President of the
Board of Directors of the British "Global Steal Holdings" Company
Promad Mitali.

Mr. Mitali told the Prime Minister about the long-term programs in the
sphere of mining the Company is implementing in Armenia, Government’s
Information and PR Department reports. He noted that there are good
opportunities for accomplishment of serious prospective programs in
Armenia, which is rich in stones and metals.

Welcoming the initiative of the "Global Steal Holdings" Company,
Prime Minister Andranik Margaryan mentioned that it is consistent
with RA Government’s Policy of promoting ore mining in the country.

The parties turned to the issue of development of infrastructures
necessary for the successful accomplishment of long-term programs.