FEASIBILITY REPORT FOR AGARAK COPPER-MOLYBDENUM COMBINE RECONSTRUCTION PROJECT BEING PREPARED

PanARMENIAN.Net
20.10.2009 18:07 GMT+04:00

/PanARMENIAN.Net/ GeoProMining Group commissioned the Company of
"Mekhanobr" to prepare feasibility report of production reconstruction
project for Agarak Copper-Molybdenum Combine.

By the end of November the project of Agarak reconstruction will
be ready.

The plant needs modernization in order to increase processing
capacities and raise extraction percents. The basis for Company’s
activities is the complex approach to designing of new plants and
modernization of the existing ones, which includes development of
effective technologies, use of modern project-design solutions and
use of technological equipments of high technical-economic indicators.

"Mekhanobr Engineering" Company was established on the basis of
designing and scientific parts of "Mekhanobr" Institute, and has 88
years of experience, which includes development of technologies and
designing works for 250 mining companies as in the territory of the
Russian Federation, as well as in CIS and other countries (Algeria,
Angola, Bulgaria, India, China, Congo, Mongolia, and Myanmar).

At RA Government session, held at Syunik Marz on June 26, decided
to grant "Agarak Copper-Molybdenum Combine" a budget credit of 14
million USD for four years.

Monthly Agarak Copper-Molybdenum Combine produces 2,5000 copper
concentrate with 26% copper content, and 40 tons of molybdenum with
51% molybdenum content.