CRONIMET press releases
Current press releases of the CRONIMET Group
Excellent annual balance 2010 of Zangezur Copper Molybdenum Combine CJSC (ZCMC)
The Zangezur Copper Molybdenum Combine (ZCMC) – Group Company of CRONIMET Mining AG – had an excellent annual balance in the financial year 2010.
Ore processing was increased by 6 per cent up to 14 million tons. The production and sales of molybdenum concentrate were increased by 2.3 per cent up to 8,800 tons. Sales and production of copper concentrate were increased by 26 per cent up to 86,500 tons. The investments were scheduled so that in total 43 million USD flew to direct investments.
“The vertical integration strategy was sustainably boosted with the investment measures in mine operation. In 2010 the foundations for a further expansion in capacity as well as an enhancement of cost effectiveness were laid through the implementation of the investment in due time,” said Mger Poloskov, Head of Corporate Operations.
ZCMC is one of the largest employers in Armenia with 3100 employees. The company invested 5.8 million USD in 2010 in numerous activities in areas such as schools, environment, employment, education and health due to its sustainable developments.
