ARMENIAN PRIME MINISTER VISITS GOLD-PROCESSING FACTORY IN MASIS

ARKA
March 17, 2009

YEREVAN, March 17. /ARKA/. On Tuesday, Armenian Prime Minister Tigran
Sargsyan visited a gold-processing factory in Masis to see the capacity
of this new factory launched by ASSAT Ltd and labor conditions here,
governmental press office reports.

Director General of ASSAT Aram Osikyan told the premier that the
company established in 1999 is engaged in mineral deposit exploration
for building copper, gold and other ore enriching factories in Armenia.

Masis gold factory has 20 employees and will create additional 15 or
20 jobs soon with minimal salary of AMD 150,000.

PM Sargsyan told journalists that unlike mining industry that faces
serious problems amid the global crisis, jewelry industry gets new
opportunities.

He views the well-equipped and up-to-date Masis factory as one of
successful initiatives.

The premier stressed the importance of those enterprises specialized on
domestic raw materials and said an arrangement is already up with the
Yerevan jewelry factory on the purchase of this factory’s products.