During his official trip to Armenia Syunik province, Armenian Prime Minister Mr Tigran Sargsyan visited the Agarak Copper Molybdenum Combine.

Mr Tigran Sargsyan reviewed the ACMC investment programs, which include modernization of processing facilities, professional training for employees, changes to the organizational structure of the enterprise and development of the mine.

In August 2009, GPM hired the Russia based Mechanobr Institute to conduct a feasibility study for the reconstruction of ACMC. The institute developed an integrated approach to designing new and modernizing existing facilities at ACMC. The project includes the development of efficient technologies, implementation of modern engineering solutions and the use of more efficient, higher output equipment.

In June 2009, the government of Armenia provided ACMC with stabilization credit for anti-crisis measures to support a program to reduce costs and increase ACMC competitiveness. In December 2009, ACMC began repayment of the government credit.

In 2010, ACMC returned to profitability, and is seeking to further increase manufacturing and financial performance in 2011-2012.

(Sourced from www.panarmenian.net)