ARMENIA’S AMP REDUCES FERROMOLYBDENUM PRODUCTION 12.4% IN H1

Interfax News Agency
July 24 2008
Russia

Reduced ferromolybdenum production 12.4% to 1,220 tonnes in the
first half of 2008 compared to the same period of 2007, the company
told Interfax.

AMP said ferromolybdenum production edged up 0.06% by cost to
16.859 billion dram (about $56 million) from 16.848 billion dram in
January-June 2007

The company also processed 1,940 tonnes of molybdenum concentrate in
the half, of which 1,840 tonnes were purchased from Armenian producers.

AMP transferred 837 million dram to the Armenian budget in the half.

AMP was founded in 2003. The company has annual production capacity
of 5,000 tonnes of ferromolybdenum.

AMP boosted ferromolybdenum production 29.1% to 2,815 tonnes in 2007.

The official exchange rate on July 24 was 301.31 dram/$1.