4 companies to invest $ 180 million in mining industry

Large-scale investments in Armenia mining industry this year are expected. Shushanik Kerobyan, head of the geology, normative-methodological and analysis department of the Ministry of Energy Infrastructure and Natural Resources says, according to the information of the entrails users "Geopromining Gold", "Lydian Armenian", "Teghut" and "Vayk Gold" are preparing to invest $ 180 million in investment projects.

 - More than $ 158 million is planned to invest for the Amulsar Gold Quartzite mine development.

    Investments will be implemented equally during the last three quarters of the year.
It plans to implement $ 52.8 million in each quarter, resulting in hundreds of new jobs.

 At the beginning of the year, the number of employees included in this program exceeds 360. It is expected that in the next two years of implementation of the investment program it will reach 1,2-1,3 thousand.  "Geopromining Gold" will invest $ 10 million this year.

 Within the framework of the project, it is envisaged to equip the Sotk gold extraction plant and the mine.  Financing of operational preparations of Teghut Copper and Molybdenum Deposit Exploitation is almost the same.

Shushanik Kerobyan says, $ 2 million investment is expected from "Vayk Gold" Company.