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our editorial team will get back to you.By G.P. ThomasTopics CoveredWelcome to
ArmeniaOverview of ResourcesMetalsInvestmentSourcesWelcome to ArmeniaArmenia is
a landlocked nation located in southwestern Asia between Azerbaijan and Turkey.
The total area of the country is 29,743 km2, and it has a population of
2,970,495 as of July 2012. The country’s climate is highland continental.The
national flag of Armenia. Image Credit: CIA FactbookAfter facing severe
hostility from neighbouring countries for several years, Armenia finally gained
independence in 1991. However, clashes with Azerbaijan continued and derailed
the progress of the nation to a certain extent. After the economic downturn in
2009, its economy has begun to recover steadily with a 2.1% growth in 2010 and a
4.6% growth in 2011. The GDP of the country was $18.17 billion in 2011.The
economy of Armenia depends upon large loan packages from Russia, the IMF, and
other international financial institutions. Armenia joined the WTO in January
2003.The natural resources of Armenia are very limited with small deposits of
gold, copper, bauxite, molybdenum, and zinc. The mining sector is small
inscale.Overview of ResourcesIn 2010, Armenia ranked seventh in the world in
molybdenum production. The mining sector also produced other metals such as
gold, silver, copper, and zinc, and industrial minerals such as cement,
limestone, diatomite, gypsum, and perlite. Aluminum foil cone
crusher manufacturer price was produced using the aluminum imported from
Russia. Local ores enabled the sector to produce ferromolybdenum and rhenium
salt. Diamond-cutting industry has also evolved in the recent past.Mining
experts claim that Armenia has a variety of resources such as iron, lead,
basalt, granite, marble, tuff, agate, jasper, obsidian, bentonite, and zeolites.
The country hardly had any local production of fuel in 2010 and depended on fuel
and natural gas imports from Russia.The national map of Armenia. Image Credit:
CIA FactbookMetalsArarat Gold Recovery Co. (AGRC), a subsidiary of GeoProMining,
was involved in mining activities at the Sotk deposit in 2010. AGRC owned a gold
processing facility in Ararat, and a large open pit gold mine at Zod in eastern
Armenia.ARMENAL aluminum foil rolling mill is one of the leading production
facilities in Armenia. Its annual capacity so far has been 18,000 Mt of thin
foil and 7,000 t of household foil. The output was exported to the U.S., Europe,
and the Middle East.Zangezur copper-molybdenum complex and Agarak
copper-molybdenum mining mining
stone crusher machine manufacturer and processing complex are two of the
leading producers of copper and molybdenum concentrates in Armenia.In 2010,
GeoProMining conducted extraction and processing operations of polymetallic ores
such as copper, antimony, and molybdenum, and precious metals such as gold and
silver.Similarly, Armenian Molybdenum Production LLC (AMP) was involved in
ferromolybdenum production with a capacity to produce 3,600 Mt/yr. Yerevan Pure
Iron Works produced pure molybdenum, ferromolybdenum, and potassium perrhenate.
The company’s output was exported.InvestmentArmenia relies on international aid,
foreign direct investment and remittances from Armenians employed abroad to
maintain its economy, especially as it politically isolated by its nearest
neighbors, Turkey and Azerbaijan.The mineral industry of Armenia is largely
operated and owned by foreign investors. However, many hindrances affect the
future of investments in this industry such as lack of transparency in the tax
system and customs procedures and one-sided competition between domestic and
foreign companies.In 2005, the Armenian government granted Geoteam, a subsidiary
of Lydian International Ltd, a 25-year license to develop an open-pit gold mine
to extract 2.5 stone
impact crusher for sale million ounces of gold from Amulsar Mountain, near
Jermuk. The company plans to begin operations in 2014. Environmentalists and
locals, however, are concerned that the mine might be a big ecological threat to
the picturesque town of Jermuk by polluting it with hazardous emissions and
causing a potential threat to Spandarian, Armenia’s second-largest reservoir.In
2006, Lydian International discovered the Amulsar project covering a region with
gold mineralisation in central Armenia.
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