Molibdeny Ashkharh LLC

Dastakert copper-molybdenum deposit

Highlights

Location: Sisian region, Syunik marz, Republic of Armenia
Ownership: 100%
Type of ore body: Sulphide ore
Type of mine: Open pit
Reserves: App. 33 million tons with average content of Cu 0.62% and Mo 0.047%
Product: Molybdenum and copper concentrates
Expected mine life: Over 15 years
Plant capacity: 2 million tons of ore processing p.a., to be put into operation by the beginning of 2015.
Employees: Around 1000 people.
Total investment: Around 105 million US dollars.

Dastakert copper-molybdenum deposit is situated in the Sisian region of Syunik marz of RA, on the northern slope of Bargushat mountain range, the south-east parting of Zangezur mountain range; 3 km to the south of Dastakert, 2050-2500m above the sea level.

Dastakert town is connected with the town of Sisian with 22 km long road. Sisisan region is one of the large agricultural regions in the Republic, previously known also for mining (Dastakert plant) and construction materials industry.

Dastakert copper-molybdenum plant operated on the base of Dastakert underground mine in the period of 1951-1973, during which about 2.5 mln tons of ore were extracted (with average content of Cu 0.64% and Mo 0.058%.). However, after exploitation of  Kajaran and Agarak mines started, Dastakert mine was put on care and maintenance in 1973. 

Molibdeny  Ashxarh LLC owns licenses for mining at the Dastakert mine and for geological exploration works in the Dastakert mining field (37 sq km).

Preliminary estimated investment in the new projected Concentrator with a planned annual capacity of 2 million tons of ore processing is about 105 million US dollars. As of september 2011, financing of geological exploration works constituted about 7.6 mln US dollars. Our Company permanently invests in drilling and geology works to increase the reserves.

The company continues  geological and exploration works in the area of  Sari Dara to replenish the ore base of Dastakert  deposit. Concurrently, feasibility study and technical design (Mine and Concentrator design) of Dastakert is carried out.

Dastakert copper-molybdenum plant with annual capacity of 2 mln tons of ore is scheduled to be put into operation by the beginning of 2015.