Monday, April 28 2014

On April 28, Yerevan-GeoProMining, a diversified international group of mining companies (GPM) informed about commissioning of the new technological block "Albion" at Ararat gold recovery plant. An official ceremony was presented by President of RA, Serzh Sarksyan, officials of RA and delegation from Russian Federation headed by Minister of Transport of the Russian Federation, the head of the Armenian-Russian Intergovernmental Commission Maxim Sokolov.   

The press service of GPM group in Armenia reports that the general volume of investments for the modernization of Zod mine and Ararat plant by GeoProMining group since 2007 exceeded 140 million US dollars. 

Albion process plant developed by Australian company Xstrata Technology and Core Process Engineering allow significantly increasing the extraction of metal from refractory sulphide ores Zod mine is rich in. The technology combines ultrafine grinding and oxidative leaching under atmospheric leaching. By Albion technology concentrate, containing base metals and precious metals, is processed by oxidation of sulphide minerals and recovery of metals for further extraction in conventional manner. 

Currently there are three production sites where Albion process plant is being applied. On two of them located in Spain and Germany zinc sulphide concentrate is processed and another site processes refractory gold-silver concentrate. It is located in Dominican Republic. So, Ararat plant will become the world's second experience in the application of Albion process plant technology for gold ores processing. 

GeoProMining, founded in 2001, is an international private company with a diversified resource base metals. GeoProMining produces gold as a "Dore" alloy as well as copper, molybdenum, antimony concentrates. GeoProMining plants are located in Russia and Armenia. In Armenia GeoProMining owns two enterprises - Agarak copper-molybdenum plant and GPM Gold company, which develops Zod gold deposit and controls Ararat gold recovery plant. 

Total investment volume of GeoProMining group of companies in the acquisition and modernization of enterprises in Armenia since 2007 amounted to more than 370 million US dollars. GeoProMining is one of the largest investors of the economy of Armenia.