OJSC Pure Iron raises ferromolybdenum output by 10.2% in 2007

2008-01-14 18:00:00

ArmInfo. Armenian metallurgical company OJSC Pure Iron raised the
production of ferromolybdenum by 10.2% to 2,845.4 tons in 2007 as
against 2,580.5 tons in 2006, company administration told ArmInfo.

The source reports, the production of net molybdenum (100%) last year
fell by 20.1% to 389 tons as against 486.7 tons in 2006. Kalium
perrhenate (64% rhenium containing salt) production in 2007 totaled
85.8 kg as against 8.5 kg in 2006.

In terms of money, ferromolybdenum production was up 9.1% to 37,431.9
mln drams as against 34,291.6 mln drams in 2006. Molybdenum production
was down 18.3% to 8,228.6 mln drams s against 10,061.7 mln drams in
2006. Kalium perrhenate production totaled 62.4 mln drams as against
1.440 mln drams in 2006.

The company reports that German Cronimet Mining, the owner of 51%
shares of the plant, exports the production to Europe. (The remaining
shares belong to resident-individuals). In 2007, ferromolybdenum
production of OJSC Pure Iron was up 7.7% to 38,338.8 mln drams as
against 35,574.1 mln drams in 2006. Molybdenum export was down 21.6% to
8,334.9 mln drams. Last year 103 kg kalium perrhenate worth 125 mln
drams was exported. In 2006 this type of production was not exported.

Yerevan Pure Iron Plant was founded in 70s. In 1994 it launched
procession of molybdenum concentrate becoming the largest processing
plant in the country.