TILL TODAY NOBODY HAS BEEN DISCHARGED, THE WAGE HAS NOT BEEN CUT
Norayr Hovsepyan

Azat Artsakh Daily
21 Nov 08
Republic of Nagorno Karabakh [NKR]

If in international market hesitation of provisions’ prices NKR
has felt basically as consumer, so recently decrease of price of
non-ferrous metals in international market can have more direct
influence upon the country’s economical life. The fact, that in
Armenia in some large-scale enterprises embraced in the sphere of
mining industry after-effects of hesitations fixed in international
market have already begun to make felt.

Naturally, it’s impossible not to take care of destiny of NKR mining
industry and generally "Base Metals" company. "Mninig industry is
one of the economy’s branches, where almost without exception,
they do non-financing by the state proceeding from the present
indexes in international market. What has happened because of the
crisis? Prices of copper have decreased about two times. At present
they pay twice little, than two months ago", the executive director
of "Base Metals" CJSC Arthur Mkrtumyan represented the situation,
answering our question.It has created rather difficult situation for
working organizations in the sphere of mining industry.To question
of getting out from the created situation the choice is not so great,
our interlocuter finds, either measures are obtained from other sources
for going on the works, or merely the company stops its works. There is
another version, but if the prices go on to decrease, it will help only
in certain short period of time, our interlocuter has noticed.And it
has been rather boldly expressed in Armenian market. It can have rather
serious after-effects not only for economical, but for social condition
of the population, finds Arthur Mkrtumyan. How is the situation in
"Base Metals" in that sense? Will the company be able to overcome
this temptation? "Now we have an enterprise having chances of release
of large-scale production, which in regard to a month reprocesses
about 40 thousand tons of ore, it will be already the second month,
in sense of record indexes, – noted the executive director of the
company. But today we stand before the reality, when the question of
the company’s be-or not be is put. What antisteps the company takes
or foresees? " About 20 days that we are occupied with decrease of
our expenses. It has been realized basically in the sphere of capital
construction and in a number of branches not connected directly with
production, in the result of which it has turned out well not to
cut the wage of our workers and not to go to reduction of workers,-
assured the executive director of "Base Metals". "How long it will
manage to go on in such way, nobady can say, – finds A.Mkrtumyan, –
Anyway, we’l l do all possible for saving the situation. It remains
only to wait and to follow the change of the market, and what we are
doing now". Has "Base Metals" an expectation of assistance from the
state? "Now it’s difficult to say. While we are in the first stage of
the crisis’ overcome and we try to overcome the created problems by
our efforts. From the other hand the state has rather serious problems
just because of the same economic crisis. Nevertheless, I’m sure,
that in case of necessity the state will do all the possible for not
stopping the activity of "Base Metals", – the executive director of
the company is sure.