Armenian President Serzh Sargsyan Visits Agarak Copper-Molybdenum Mine Complex

Posted on Apr 16, 2012 in Company news, News and Press releases

Armenian President Serzh Sargsyan Visits Agarak Copper-Molybdenum Mine Complex

16 April 2012, Yerevan

GeoProMining (“GPM” or “the Company”), the diversified international mining group, announces that Armenian President Serzh Sargsyan visited the company’s Agarak Copper-Molybdenum Mine Complex on 16 April 2012 during a working visit to Syunik Province. President Sargsyan was personally briefed on the company’s development strategy and participated in the opening ceremony for the Complex’s expanded and modernised flotation facility. Following an in-depth tour of the plant, the President also visited the Culture Centre in the town of Agarak, which has been renovated with support from the Agarak Complex as part of its social responsibility programme.

In the past four years, GeoProMining has invested USD 30 million in the Agarak Complex. Most of these funds have been channelled into constructing and equipping the new flotation facility. The Company brought in international expertise to carry out the work: Mekhanobr Engineering conducted a feasibility study for the reconstruction, and high-tech modern design solutions were used during the modernisation. GeoProMining’s modernisation programme has already contributed to improving the Agarak Complex’s performance. In 2011 Agarak’s results were the best on record in its nearly 50 year history.

 

Press contacts:

Ruzanna Grigoryan

Tel: +374 (94) 19 07 13

Email: ruzan@gpmgold.am

 

About GPM:

Established in 2001, GeoProMining is an international, privately held company with a diversified resource base of gold and other metals. GeoProMining group companies are located in Russia, Armenia and Georgia. The group acquired shares in the Agarak Copper-Molybdenum Mine Complex in December 2007. The complex is the largest employer in the Megri region. The complex employs about 1,000 people.