SOME 70 MILLION DOLLARS NEEDED FOR BUILDING NEW COPPER WORKS

[MosJan]

SOME 70 MILLION DOLLARS NEEDED FOR BUILDING NEW COPPER WORKS

10.07.2001

 

/PanARMENIAN.Net/. "Manes Vallex" company, established on the basis of the former Alaverdi mining metallurgical works, and "Constructions ARMBRO BFC Inc." Canadian firm have signed a memorandum on intentions, which presupposes partnership within the framework of "Armenian Copper" program. The program includes construction of a plant on processing copper and mining in the town of Alaverdi and also in villages of Tekhut and Akhtala in the north of Armenia. In "Manes Vallex" Closed Stock Company Director Valery Mejlumian's words, the Canadian company has much experience in building mining metallurgical works and is interested in participation in Armenian programs. At today's press conference Mejlumian also reported that construction of the copper processing plant would cost 70 million dollars. He also noted that it was an approximate figure. At present "Lurgi Metallurgie GmbH" German company, which is the partner of "Manes Vallex", is holding a pre-project research, which will be completed before the end of the year. "Then the cost of construction works can be determined to an approximation of 15%," - Mejlumian said. The output of the plant, which will be built on the basis of Alaverdi works, will make about 40 million tons a year.