GEOPROMINING COMPANY TO START FULL-SCALE EXPLOITATION OF AGARAK PLANT
ArmInfo
2009-03-05 12:11:00
ArmInfo. GeoProMining company is going to start the full-scale
exploitation of the Agarak cooper and molybdenum plant in the second
half of 2009. The plant was forced to reduce production volumes much
because of the world financial crisis, public relations department
of GeoProMining told ArmInfo correspondent.
At present restucturization process is taking place at the plant to
prepare it to the new conditions. The leadership of the company has
a task of drawing out an anti-crisis programme by May 2009, which
envisages preparation of the producing and managing structures of the
plant necessary for its full launching, and holding of measures to cut
expenses and maximal reduction of losses. The company will provide 900
job places to fulfill these tasks and enter full productive capacity.
Since the beginning of the crisis shareholders of the company invested
more than 12 mln US dollars which were spent to fulfill the company
duties against its workers and purchasers of the cooper and molybdenum
concentrate.
Over the forced idle period of the plant the leadership of the company
gave an opportunity to a part of the staff to use the accumulated
paid vocations.
To recall, GeoProMining group is an international private company
with diversified resource base of metals, founded in 2001.