IN 2010 NET PROFIT OF ZANGEZUR COPPER MOLYBDENUM COMBINE GREW BY 3.7 TIMES

arminfo
June 27

In 2010 the net profit of Zangezur Copper Molybdenum Combine grew
by 3.7 times to 21.5bln AMD against 5.8bln AMD in 2009, says the
company’s financial report.

The gross income made up 42.5bln AMD against 21.8bln AMD a year
before, the expenditure – 63.4bln AMD against 53bln AMD in 2009,
the liabilities – 30.2bln AMD against 20.8bln AMD in 2009, wherein
loans – 8bln AMD against 13.2bln AMD in 2009. The total capital made
up 151.3bln AMD against 152bln AMD in 2009, the assets – 202.7bln
AMD against 210.4bln AMD in 2009.

The shareholders have decided to annually distribute 5% of the net
profit among employees as bonuses.

The current processing capacities of the factory are 14mln tons a
year. In Sept 2011 the company is planning to launch an ore crushing
complex. The shareholders are also planning to start a new stage of
modernization and enlargement and to raise the factory’s capacities
to 20mln tons a year.