CJSC ARMENIAN-RUSSIAN MINING COMPANY (ARMC) TO LAUNCH PROSPECTING OF URANIUM ORES APPROXIMATELY IN MAY-JUNE 2009

ArmInfo
2009-01-27 15:55:00

ArmInfo.CJSC Armenian-Russian Mining Company (ARMC) will launch
prospecting uranium ore approximately in May-June 2009, ARMC Director
General Mkrtich Kirakosyan made such an optimistic prediction talking
to ArmInfo, Tuesday.

He said the company expects that in February 2009 the Government
of Armenia will specify the areas to prospecting and coordinate
the choice with the Public Services Regulatory Commission. Another
2-3 months will be required for examination by various ecological,
medical and other organizations.

‘Thus, in May-June 2009 it will be possible to speak of launching
the full-scale prospecting’, he said.

The company was founded in July 2008 in compliance with the Protocol
of Intent between the Armenian Environment Ministry and Russian Federal
Atomic Energy Agency dated 23 April 2007 and the Action Plan for 2007,
as well as by the Memorandum between the State Atomic Corporation
(Rosatom) and the Armenian Environment Ministry dated 6 February 2007
and Action Plan for 2008. In accordance with the Protocol of Intent
and Memorandum, the goal of the company is promoting cooperation in
the sphere of geological exploration, mining and processing uranium
ores. At present the company is developing a project of geological
explorations for uranium and other minerals in the territory of
Armenia. The project will specify mineral-resource properties and
register licenses for subsurface resource management after relevant
decision by the Government of Armenia to provide CJSC ARMC with
a special right to prospecting. By preliminary data, uranium ore
reserves in Armenia may total almost 30,000 tons. About 3 million
dollars are envisaged for prospecting. By preliminary estimation of
Soviet experts Armenia has just predicted resources of uranium.

From: Emil Lazarian | Ararat NewsPress