ArmInfo. GeoProMining, diversified international group of mining companies (GMP or "the Company") continues to invest funds in the technical re-equipment of the Agarak Copper-Molybdenum Combine. According to the information shared with ArmInfo at the press office of the company, the assets mentioned were allocated to purchase rock works machinery.
The following basic mining-transport equipment has been purchased within the framework of the technical re-equipment of the Combine: tracked excavator Komatsu, 10 open-pit dump trucks, and bulldozer Shantui. During only first six month of 2017 the total amount of investments on capital inputs for equipment constitutes $1.84mln.
"In spite of complicated situation in the foreign metal markets the Company continues the re-equipment of the production facilities. The upgrade of the servicing park is directed to support and increase of the performance indicators of the Agarak combine which will allow to provide not only its faultless operation but also will enable us to fulfill all social-economic obligations of the Company towards its employees, community budgets and state budget of the Republic of Armenia", - states the General Director of ACMC Andrei Siniakov.
"Agarak Copper-Molybdenum Combine" CJSC is the part of the international Group of GeoProMining company. In 2009-2012 the combine and mine were fully upgraded and started to process 3.5mln. tons of ore per year. The Combine which is situated in the southernmost city of Armenia, Agarak, produces copper and molybdenum concentrate.
Investments of GeoProMining in the Agarak CMC during the last 10 years constituted $60mln. USD.