TEGHUT MINING EXPLOITATION FROM 2011
Today Gagik Arzumanyan, the executive director of “Armenian Copper Program”, announced that the exploitation of Teghut mining will start from 2011.
According to him all the necessary work is done to build and manage in four years a powerful factory.G. Arzumanyan said that in 1-2 months they will sign a contract with Russian Vneshtorgbank to get 250mln.dollars in credit. At the same time the director said that there is a possibility that the amount will increase till 300mln.dollars.
G. Arzumanyan also mentioned that the company did not finally decide to build a copper foundry near Teghut mining as it is not economically profitable.