Wednesday, 3 August 2011
Memorandum of Understanding Signed
Prime Minister Tigran Sargsyan received a delegation from International Minerals & Mines Limited, headed by Stephan Fitch, company director.
Welcoming the guests, the Prime Minister said to be hopeful that bilateral cooperation could promote investments in Armenia.
The parties discussed mining project implementation-related details.
In conclusion, a memorandum of understanding was signed between the government of Armenia and International Minerals & Mines Limited. The Memorandum was signed by Minister of Energy and Natural Resources Armen Movsisyan for the Republic of Armenia and Stephan Fitch for International Minerals & Mines Limited.
The memorandum outlines the conditions to be provided under the schist resource processing project launched by the company. This is supposed to create a framework for the manufacture and marketing of end-products in Armenia over time.
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The IMM Energy Limited has fully subsidized enterprises – IMM Energy Georgia and IMM Energy Armenia – with headquarters in Tbilisi. The company is going to set up another headquarter referred to as IMM Energy Armenia, which will identify investment opportunities by prospecting and developing stocks of slate combustible available in our country.
