WE HAVE MORE GOLD THAN WE KNOW

Lragir.am
11-06-2007 20:07:25

The Armenian representative of the Iberian Resources Company Manvel
Bagratyan told Regnum the gold reserves in the region of Syunik are
twice as much as it is mentioned in the documents. According to
Bagratyan, the gold reserves of only Terterasar and Lichkvaztey total 3
and 17 metric tons respectively. However, these data are the findings
of a survey of the 1980s, when 3 percent ore was not used, whereas the
new technology enables recovering gold from this type of ore. The
Iberian Resources got the license of the ministry of environment of
Armenia for a new survey.

Besides, Manvel Bagratyan said they are likely to build a new factory.
The new factory will enable producing copper, zinc and other metals
besides gold. The construction of the factory will cost 50-70 million
dollars and will last from 18 to 24 months. Manvel Bagratyan said there
are problems with the tax legislation of Armenia in the sphere of gold
mining.