RA PRIME MINISTER TIGRAN SARGSYAN VISITED THE MASIS GOLD PROCESSING FACTORY

Tues day, 17 March 2009

RA Prime Minister Tigran Sargsyan visited the Masis gold processing
factory. The Prime Minister walked round the workshops, got acquainted
with the working conditions, the output capacity and the development
prospects of this new factory launched by ASSAT Ltd.

Director General of ASSAT Aram Osikyan told that as established in
1999, his company is engaged in mineral deposit exploration activities
with a view to building copper, gold and other mineral ore enriching
factories in Armenia.

The Masis gold processing factory is one of these projects and enjoys
good development prospects. There are already 20 jobs available in
the factory.

Some 15-20 jobs are due to be created within the next two months with
a 150.000 dram salary.

Tigran Sargsyan told news representatives that mining industry is
facing serious problems amidst the global crisis. Nevertheless, new
opportunities are being opened up in the gold mining sector and our
entrepreneurs are trying to get advantage. According to the Prime
Minister, well-equipped and meeting the modern standards, the Masis
gold processing factory is a success story. Tigran Sargsyan appreciated
the operations of those companies specialized in the processing of
domestic raw materials. It seems quite natural that an arrangement
is already up with the Yerevan jewelry factory about the purchase of
the whole range of end-products manufactured in this factory.