OREANDA-NEWS. May 13, 2014. President Serzh Sargsyan conducted a working visit to Ararat marz. The President of Armenia attended the area of GeoProMining company’s gold extraction plant in Ararat, at the full commissioning ceremony of Albion technological shop in the groundbreaking ceremony of which Serzh Sargsyan had participated in July 2011.

The shop was made a reality in the framework of the modernization program of GeoProMining company’s gold extraction plant in Ararat.

The President of Armenia, accompanied by the company’s leadership and the RA relevant officials, toured the plant and familiarized with the investments, the works accomplished as a result of those investments and the productive potential of the plant. The president was introduced that the investment volume of one of Armenia’s largest investors – GeoProMining Group – for the modernization of Sotk’s mine and Ararat’s plant accounted for more than 140 million US dollars. In addition, the company’s total investment volume for acquiring and modernizing enterprises in Armenia comprised more than 370 US dollars.

According to specialists, Albion innovative technology put into operation today, afforded an opportunity to raise metal extraction from hard-extractable sulfide ores abundant in Armenia’s southwestern Sotk’s mine. It was noted that Armenia’s gold recycling plant would become the second in the world to put Albion technology into practice.

At present, 976 people are employed in GeoProMining company, of whom 626 in Sotk’s mine and 350 in Ararat’s gold extraction plant. As a result of the modernization, 130 additional jobs have been created. The average salary of the production sector accounts for 209 thousand drams.

On the way to GeoProMining’s Ararat gold extraction plant, in Avshar community, President Serzh Sargsyan held a meeting with the owners of the peasant households whose gardening areas had suffered from a severe freeze throughout the 30.03.2014-01.04.2014 period. The president talked to the peasants, once again familiarized with the implementation process of the government state support programs being allocated to the households according to his instruction, learned about the peasants’ urgent issues on the spot, informed them about the state support programs on mitigating the damages and gave certain instructions to the executives.