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Official News

Thursday, 2 June 2016

Prime Minister Visits Ararat Gold Recovery Plant

Prime Minister Hovik Abrahamyan visited the GeoProMining Gold company-run Ararat gold recovery plant. The plant is the main Armenia-based asset of the Russian GeoProMining Group, which is operating a gold mine in Sotk, the Ararat gold recovery plant and the copper-molybdenum plant of Agarak.

Accompanied by GeoProMining Group President Roman Khudoliy, the Premier toured the factory getting acquainted with the plant’s manufacturing capacity and the performance of its new Albion production line, which was commissioned in 2014. It provides the highest level of extraction in line with the applicable environmental standards.

The Prime Minister was told that the Albion technology enables easy and efficient processing of sulphide ore. It has been used in Australian zinc and copper mines, in the Dominican Republic and Romania’s gold processing plants.

The President of GeoProMining Group noted that the use of this technology in Armenia for gold extraction purposes is the first-ever attempt in the world. The plant provided 130 jobs new after modernization. Currently GeoProMining Gold employs 1038 people, including 421 in Ararat and 617 in Sotk.

At a news briefing, Hovik Abrahamyan hailed the company’s activities, noting that it has been making sizeable investment in Armenia. As the Premier pointed out, the fall in precious metal prices on international markets adversely affected the normal operation of mining companies, but the Ararat gold recovery plant is in good condition and ensures high production capacity. Hovik Abrahamyan welcomed the first-ever use of Albion technology in our country.

Noting that Armenia’s mining sector boasted an unprecedented growth in 2015 and in the first quarter of 2016, which in turn may promote economic activity, the Head of Government stressed that mining industry is kept in spo0tlight, and the Government will provide the necessary support for the local operators to continue working in normal conditions.

April 2021