28/04/2014 21:20
Serzh Sargsyan attends launch of Albion technology-based enterprise
Armenian President Serzh Sargsyan attended today the launch of an Albion innovative technology based enterprise at the Ararat Gold Recovery Company.
The Albion technology was developed by Xstrata Technology, an Australian company, with the support of Core Process Engineering, Australia. The technology enables to maximize gold recovery from refractory sulphide ores of the Sotk mine.
Mike Hourn, Chief Manager at Xstrata Technology, told reporters that the technology will allow reducing considerably the cost price of mining gold.
It is planned to raise annual gold production to 150,000 oz. The total amount of GeoProMining Group’s (GPM) investments on modernization of the Sotk mine and the Ararat Gold Recovery Company exceeded $140 million in 2007.
The official ceremony was attended by Armenian Minister of Transport and Communication Gagik Beglarian, members of the Russian delegation, including Russian Minister of Transport, Head of the Armenian-Russian Intergovernmental Commission Maxim Sokolov, Russian Ambassador to Armenia Ivan Volynkin, and other officials.
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