Several companies in Armenia’s troubled mining industry have reportedly resumed exports of their products responding to a more favorable price situation on the international market of non-ferrous metals.

An Armenian cargo shipping company confirmed to RFE/RL that it is now providing services to several mining enterprises exporting their products, including the plants in Agarak, Kajaran, Kapan and Alaverdi.

Mr Gagik Aghajanian ED of the Apaven Company linked this activity to a certain rise in international prices for non ferrous metals. He said that “They already work and work at a profit. It is another thing that in the past they worked at a super profit. Now they do not idle as it was at the beginning of this year.”

Ms Rubina Ter-Martirosian a spokesperson for the Deno Gold Mining Company that owns the copper-molybdenum enterprise in Kapan confirmed to RFE/RL that the company has resumed exports. She said that the enterprise that halted its operations in November resumed in April. She, however, found it difficult to mention when exactly the enterprise began to export its products.

She added that “It is difficult to say when we began our export because it took some time for a certain amount of concentrate to be accumulated before its export began.”

Ms Ter-Martirosian however, denied that the company has worked at a profit. She said that since its foundation in 2006, the company has worked at a loss. She added that “The investments that the owner has made into the enterprise have not yet paid.”

Non-ferrous metals have become Armenia number one export item in recent years on the back of their soaring prices in world markets. The collapse of global demand for them and a dramatic fall in prices in the last quarter of 2008 has been the main reason why Armenian exports tumbled dramatically in the first half of this year.

The Armenian industry showed a nearly 12% decline in the first seven months of this year and idling enterprises in the mining sphere have significantly contributed to this decline.

(Sourced from www.armeniadiaspora.com)