Thursday, March 23 2017 11:53
Alexandr Avanesov

GeoPromining Group`s investments in Armenia exceed USD 140 million

GeoPromining Group`s investments in Armenia exceed USD 140 million

ArmInfo. During a visit to the Ararat gold recovery factory, Armenian Prime Minister Karen Karapetyan was informed of the factory's activities and development programs.

The press office of the Armenian Government reports that GeoPromining Group has made a investment of USD 140 million to Albion technological unit in the Ararat plant. It provides the highest level of gold recovery, while maintaining environmental standards. This project is the first experience of the application of technology in the world. The number of jobs in the modernized Ararat Gold Extraction Plant grew by 130. Currently, the company employs 1058 people. The average wage in the manufacturing sector amounts to AMD 233 thousand.

To note, GeoProMining is an international privately-owned diversified metals resource holding company with a portfolio of quality exploration and mining projects. The company was founded in 2001 and is focusing on gold, silver, copper, molybdenum, antimony and other metals.

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