BASE METAL EXPANDS PRODUCTION VOLUMES IN NAGORNO-KARABAKH
Armenpress
Oct 18 2006
STEPANAKERT, OCTOBER 18, ARMENPRESS: Base Metal company that has been
running the Drmbon gold and copper mine in Nagorno-Karabakh since 2002
has increased production volumes up to 300,000 tons of processed ore.
Company’s executive manager Artyom Mkrtumian said as a result the
company’s annual output this year will amount to $30 million. He
said the company plans to raise this figure up to 400,000 tons in the
second half of 2007, which he said would be possible after the local
plant’s reconstruction which though was built 3 years ago needs to
be expanded in view of the growing production volumes.
The chief manager said the company has already invested $20 million
with the bulk of this sum going to building of its infrastructure. By
the way, the plant was built in a site with no infrastructure at
all. He said the company plans to invest annually around $7 million
in construction of apartments for workers. The company employs now
1,600 workers with an average wage of 142,000 drams.
In terms of tax obligations this is the biggest company in
Nagorno-Karabakh. He said several more mines are expected to be
commissioned in the next couple of years. The Drmbon mine has estimated
4 million tons of ore. It can be exploited for another 10-12 years.