The mining of copper and molybdenum concentrates at
Teghut Company and Companies of Vallex Group Executive Director Valeri Mejlumyan stated the aforesaid to reporters, during President Serzh Sargsyan’s visit to the mine.
According to Mejlumyan, in the first phase 7 million tons of ore are planned to be extracted per year and, subsequently, the production should double.
In the first fourteen years of the industry, an average of 63,000 tons of copper—with about 32 percent content—and 960 tons of molybdenum—with about 50 percent content—concentrates are anticipated to be received annually. In other words, this translates to a net average of 20,000 tons of copper and 480 tons of molybdenum concentrates per year.
“As of today, the investments have amounted to more than $300 million,” Mejlumyan noted adding that the annual sales total $150-190 million
In his words, a total of 1,200 people already work in the industrial combine, including the service enterprises, which is under construction.
“Except for a few dozen foreign professionals, they are virtually entirely locals,” Valeri Mejlumyan stressed.
