YEREVAN, March 19. \/ARKA\/. Total volume of investments of the company GPM GOLD in the economy of Armenia in the next years will be $100 million, said CEO of the company Vladimir Kozlov.
\n\u201cAbout 50%\u00a0 of this amount are borrowed funds, and the remaining part is formed from credit and own funds of GPM\u201d, he said to the journalists.
\nKozlov said that the funds are directed at the reconstruction of Ararat Gold Recovery Factory,
\nre-equipment of\u00a0\u00a0\u00a0 flotation production unit and purchase of machinery for Sotk mine.
\n\u201cWe plan to implement the main volume of investments – about $80 million, which include also social budget in 2012, an insignificant part of the funds will be invested in the first quarter of 2013. Return of investments by the given project is planned in 5-6 years\u201d, he said.
\nHe said that this year growth of about 2-3% is expected, including the indicators of extraction and processing of raw ore.
\n\u201cEmphasis will be made on stripping of the mine. In this direction growth will be about 40% of the volume of 2011\u201d, he said.
\nIn 2011 in\u00a0 Ararat Gold Recovery Factory\u00a0 was processed more than 870 thousand tons of raw ore vs. about 550 thousand tons in 2010, growth was about 60%, about 880 thousand tons of ore was extracted vs. 490 thousand tons in 2010 which provided 80% growth of the given indicator, and the growth of stripping works and preparation of mine was 14%.
\nProduction growth compared to 2010 was 90%, about 1280 kg of gold vs. 650 kg of the last year was melted.
\nKozlov said that major growth of the production of marketable products several times is expected in 2013-2014 which will be due to introduction of the technology \u201cAlbion\u201d.
\nUnique innovation technology \u201cAlbion\u201d which is the part of large-scale program of modernization of assets of GPM in Armenia will improve productive efficiency of the company by maintaining high ecological standards.
\n\u201cWe expect that the production of marketable products will increase 3-4 times vs. present volumes\u201d, he said.
\nThe company GPM GOLD operating Sotk gold mine and Ararat Gold Recovery Plant is included in the Russian group of companies\u00a0 GeoProMining (GPM).
\nGPM established in 2001 is an international private company with diversified resource base of metals.
\nGeoProMining produces gold in an alloy, \u201cDore\u201d and copper,\u00a0 molybdenum and antimony concentrates. GPM companies are located in Russia, Armenia and Georgia.\u00a0\u00a0 In Armenia GeoProMining has two companies \u2013 Agarak Copper-Molybdenum Plant and the company GPM Gold processing Sotk mine and managing Ararat Gold Recovery Plant.\u00a0 \u20130–<\/p>\n","protected":false},"excerpt":{"rendered":"
Total volume of investments of the company GPM GOLD<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,15715,12397,331],"class_list":{"0":"post-34896","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy-en","7":"category-news","8":"tag-armenia-2","9":"tag-gpm-gold-3","10":"tag-investment","11":"tag-331"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/34896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=34896"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/34896\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=34896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=34896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=34896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}