Armenia Gold mines
Armenia has a history of gold mining that goes back many centuries. Most of the early gold mining was done in the early years, to finance the construction of religious locks in early Asia. During the Soviet era, the country had a modest gold sector with the production in 1989 slightly more than two tons of gold.
Armenia has a history of gold mining that goes back many centuries. Most of the early gold mining was done in the early years, to finance the construction of religious locks in early Asia. During the Soviet era, the country had a modest gold sector with the production in 1989 slightly more than two tons of gold.
The gold production after the split from the Union in 1991. The country went to below 1000 kg in 1995. by a depression, but has recovered and now gold is one of the main exports. The growth of gold production in recent years has been adopted by the legal reforms in 2012 in collaboration with the International Finance Corp (IFC), reviewed the government of Armenia and adopted its new mining law in 2012 so that further opening Aided was its mining sector. This has seen an increase in domestic gold production in recent years. The new mining laws Permit a two-tier licensing structure that will Aid the industry attract investment.
Gold Mining In Armenia
The mining sector to invest, a 4% tax on gross income, 12.5% royalties based on the result. All these royalties are important deductions that arrive before a 20% corporate tax and the interest will be charged.
The mining sector to invest, a 4% tax on gross income, 12.5% royalties based on the result. All these royalties are important deductions that arrive before a 20% corporate tax and the interest will be charged.
The gold mining in Armenia has more foreign investment. The first Dynasty Mines, which is registered in Canada, was the first foreign company to invest in the country’s gold sector. In 1997, the First Dynasty Mines bought a stake in the Ararat Gold Mining Plant. The plant was later converted to the Ararat Gold Recovery Company, before it was sold to GeoProMining Gold in 2007.
Geo ProMining Gold is the largest gold mining company in Armenia is operating both the Ararat gold recovery plant and Zod (Sotk) mines , The company reconstructs the gold processing plant at Zod mines in 2013 to use a new technology Albion. This technology was developed by the Australian company Xstrata Technology and has been applied for the first time in the Dominican Republic. Armenia is now in the world to apply the second country. The Albion technology enables the company to simultaneously process different types of ores. This is expected to contribute to Approximately 4.6 tonnes per year gold production from the mine to.
Another important player in the gold sector of the country is the Lydian international, another Canadian gold mining company. The company owns and operates the Amulsar gold mine open pit, which is located in southern Armenia. The company has its major discovery in 2006 and the development of the mine in 2012 with production in 2015.
The Amulser gold deposit is estimated that Approximately 2.3 million ounces of gold reserves at 0.8 g / t and approximately 9.98 million ounces of silver contained begun starting in a content of Approximately 3.4 g / t. It is estimated to produce the gold mine Approximately 6.25 tons of gold per year for 10 years.
The Amulser gold deposit is estimated that Approximately 2.3 million ounces of gold reserves at 0.8 g / t and approximately 9.98 million ounces of silver contained begun starting in a content of Approximately 3.4 g / t. It is estimated to produce the gold mine Approximately 6.25 tons of gold per year for 10 years.
Another major player in the Armenian gold mining the Dundee Precious Metals Inc., through its subsidiary Deno Gold, which owns the Deno Gold Project in southern Armenia and operates. The project is expected to comprise around 400,000 tons of polymetallic gold and silver ore. The company is also working on the shahemyan deposits still in Deno Gold Project.
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