Sangesurer copper and molybdenum combine

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The Sangesurer Copper and Molybdenum Combine ( Armenian Զանգեզուրի պղնձամոլիբդենային կոմբինատ , Sangesuri pghndsamolibdenajin Combine ) is a mining company in Armenia .

history

The first geological surveys near Kajaran in Syunik Province took place in 1935 . Construction of the “Kajaran copper and molybdenum mine” began in 1940 , but was interrupted until 1944 due to the Second World War. The mining of molybdenum-containing copper ores began in 1951 . In the mid-1970s, the combine was named after the Sangesur region. After Armenia gained independence from the Soviet Union in 1991 , the deep economic crisis also affected the Sangesur copper and molybdenum combine. It stood still until 1994. In 2002 the annual production again reached 8 tons of ore.

Since privatization in 2004

The combine was privatized in 2004 for 132 million US dollars , with 60% of the shares taken over by the German Cronimet Mining GmbH , while the remaining 40% were acquired by local investors, these are Pure Iron Plant (Yerevan) with 15%, Armenian Molybdenum Production with 12.5% ​​and Zangezour mining with 12.5%. In 2020, Cronimet's entire stake in the company itself was sold.

In 2005, 5368 t of molybdenum concentrate and 10,517.5 t of copper concentrate were produced. For 2006, 7,313 t molybdenum concentrate and 12,398 t copper concentrate are planned. According to its own information, the combine plans to invest a total of 157 million US dollars by the end of 2008 and to increase the number of jobs from 3,000 to 4,500.

The Sangesur copper and molybdenum combine is one of the largest taxpayers in Armenia (30 billion drams in 2005 , the equivalent of around 55 million euros).

Web links

Individual evidence

  1. ↑ Zangezour Copper-Molybdenum Group To Be Sold For $ 132 Mln. In: Armenian Diaspora. Archived from the original on March 12, 2007 ; Retrieved on August 24, 2014 (English, article about the sale to Cronimet Mining).
  2. ↑ Ecolur: Revealed Real Owners of Metallic Mining Companies in Armenia - Part 1: ZCMC - HOT LINE - Ecolur. Retrieved May 10, 2020 (English).
  3. ↑ www.regnum.ru
  4. ↑ www.regnum.ru