ARMENIAN PRESIDENT RECEIVED TOP MANAGEMENT OF GEOPROMINING COMPANY

RIA Oreanda
March 3 2009
Russia

Yerevan. OREANDA-NEWS On 03 March was announced, that Armenian
President Serzh Sargsyan received the top management of the
GeoProMining Company.

The Chairman of the Board of Directors, Siman Povarenkin spoke about
the implementation of the obligations assumed by the Company in
our country, present situation in the area of gold and molybdenum
extraction, and prospects of the areas development. Stressing the
importance of refraining from further job cuts in the area of mining
during the ongoing financial and economic crisis, the President of
Armenia underscored his clear anticipation that there would be no
additional lay offs at the Agarak copper and molybdenum processing
plant and that even more jobs would be created in the gold mining area.

The two sides discussed also issues related to the new investment
projects to be implemented by Geopromining Company in Armenia.