Molybdenum, Armenia Metals and Mining

Armenia increases export of copper ore

In the six months of 2015, Armenia increased its exports of copper ore by 58% as compared with the same period in 2014 (against the growth by 6.7% in 2014), molybdenum ore - by 28.8% (against the growth by 15.4% in 2014), and at the same time slightly increased the export of zinc ore by 8.9% (against the growth by 20.1% in 2014).
 

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VTB finances the construction of the Tekhutskoye copper-molybdenum combine in Armenia

Vallex Group implements one of the largest economic projects in Armenia – the construction and operation of the Tekhutskoye Copper Molybdenum Combine in the Loriysk region with the financial support from VTB bank. The bank invested $283 million. The project is valued at about $350 million.
President of Armenia Serzh Sargsyan, vice-premier, minister of international economic integration and reforms of Armenia V.Gabrielyan, governor of the Loriysk region A.Nalbandyan, CEO of CJSC “Bank VTB (Armenia)” Y.Gusev and the ambassadors of foreign countries in Armenia took part at the opening ceremony of the combine on December 20th.

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