ARMENIA’S PURE IRON CUTS FERROMOLYBDENUM OUTPUT 10% IN Q1

Interfax News Agency
April 10 2008
Russia

Armenia’s OJSC Pure Iron Works reduced production of ferromolybdenum
with 68% molybdenum content by 10.3% year-on-year to 659.5 tonnes in
the first quarter of 2008, a source at the company told Interfax.

In value, ferromolybdenum production fell 6.1% to 7.8 billion dram.

Production of pure molybdenum (99.6% content) dropped 14.8% in volume
and 11.2% in value to 81 tonnes and 1.6 billion dram. The company
also produced 3.3 kg of rhenium salt with 64% rhenium content, down
from 45 kg in the same period last year, worth 3.6 million dram,
down 83.4% year-on-year.

Germany’s Cronimet Mining owns 51% of Pure Iron. The remaining shares
are owned by Armenian residents.