GeoProMining informs about commissioning of new Albion advanced technology at Ararat gold recovery plant

Posted on May 1, 2014 in Company news

28.04.2014, Yerevan                                                                                                                 Русский

GeoProMining , a diversified international group of  mining companies (GPM or ‘’Company’’) informs about commissioning of new technological block ‘’Albion’’ at Ararat gold recovery plant. The official ceremony was attended by the President of the Republic of Armenia Serzh Sarksyan, officials of the RA, and delegation from Russian Federation, headed by Minister of Transport of Russian Federation, the Head of the Armenian-Russian intergovernmental commission Maxim Sokolov.

 

The general volume of investments in modernization of Zod mine and Ararat plant by GeoProMining  group since 2007 exceeded 140 million U.S dollars.

Albion technology, developed by Australian companies Xstrata Technology and Core Process Engineering allows to significantly increase the extraction of metals from refractory sulphide ore Zod mine is rich with. Technology combines ultrafine grinding  and oxidative  leaching under atmospheric pressure. By the Albion technology, the concentrate, containing base metals and precious metals is processed by oxidation of sulphide minerals and recovery of metals for further extraction in conventional manner.

Currently there are three production sites,  where Albion technology is being applied. In two of them, located in Spain and Germany zinc sulphide concentrate is processed, and another site processes refractory gold-silver concentrate. It is located in Dominican  Republic.

Our gold processing plant in Armenia will become the world’s  second experience to apply Albion technology  for processing of gold ore.

‘’Today we are witnessing a historical event in the development of GeoProMining group. We have made a long and difficult path but thanks to professionalism and perseverance of our project participants our efforts have been successful. I want to thank everyone, who helped to realize this project,  and above all, our employees and partners. Today’s launch of new technology  is the beginning  of new stage in the history of our group, and a major step in the economic development of the Republic of Armenia on the whole ’’,-said the Chairman of the Board of Directors of GeoProMining group Siman Povarenkin.

Press contacts:

Ruzanna Grigoryan

Tel: +374 (94) 19 07 13

Email: ruzan@gpmgold.am

 

About GPM:

GeoProMining founded in 2001, is an international private company with a diversified resources of metals. GeoProMining produces gold as ‘’Dore’’ alloy, as well as copper, molybdenum, antimony concentrates. GeoProMining plants are located in Russia and Armenia.

GeoProMining owns two enterprises in Armenia – Agarak Copper-Molybdenum Combine and GPM GOLD, which operates Zod gold deposit and Ararat gold recovery plant.

Total investment volume of GeoProMining group in the acquisition and modernization of enterprises in Armenia since 2007 amounted to more than 370 million US dollars. GeoProMining is one of the largest investors in the economy of  RA.

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