ArmInfo Agency, Armenia
Oct 12 2007
Australian ‘Iberian Resources’ company sells the first 50k of gold
recovered in Armenia
ArmInfo. The Australian "Iberian Resources" company sold the first
50k of about $1mln worth gold recovered in Armenia, the Director of
the company’s Armenian representation Manvel Bagratyan told
journalists, Thrusday during his visit to Meghri, where the gold is
recovered.
According to him, the bars of gold, 50k in total, which are Dore gold
alloy with 82% gold content on average, are sold to the Australian
company RGA Mattehew. This is still the first party of gold, which
the company recovered in Armenia and sold. Besides gold, there is
15-16% silver content and that of other metals in the alloy. The
company intends to export gold in 10-20k bars regularly, the director
of the representation said. He recalled that the first experimental
alloy with 15% gold content was received in November 2006 in Aygedzor
Gold Mining Plant in Meghri. After the plant was modernized the gold
percentage increased. Presently, the plant functions by gravitation
method and ensures 40% gold recovery from ore. The remaining ore is
stored in the tailing dump for further processing.
The director said that Iberian Resources has exploited the
gold-bearing deposit in Terterasar, Meghri in the South of Armenia
since 1995 and, on an experiment basis, the poly-metallic deposit
located 5km from it, in Lichkvaz-Tey. According to M. Bagratyan the
investment volume Ibrian Resources has made into the mining sphere of
Armenia since 2005 makes up $22mln. Extra investments were ensured at
the expense of "Tamaya Resources" company amalgamation.
From: Emil Lazarian | Ararat NewsPress
