Interfax, Russia
Nov 26 2008
Armenian mining industry cuts output 2% in 10 mths
YEREVAN Nov 26
Armenia’s mining industry’s output has suffered from the effects of
the global economic crisis, Aik Mirzoian, head of regional development
at the Armenian Economics Ministry, told a press conference.
Mining sector output fell 2% year-on-year in value to 194.1 billion
dram in January-October, Mirzoian said. Sales fell 3.8% to 177.8
billion dram, and exports – 7% to 126.3 billion dram.
Some workers have been laid off, but mine owners have responded to the
government’s calls to safeguard jobs for three months while the
situation with world metal prices becomes clearer.
Mining industry output rose 6.5% to 228.2 billion dram in 2007.