Company Profile
Company Profile
ACP is a private
company registered and running in Armenia since 1997. Until changing the company name as of January 1, 2002, the company was known as Manes yev Vallex cjsc.
The company owns the only copper smelting facility in the whole region, thus
being positioned to process and export all copper containing raw materials
available both in Armenia and neighboring countries. The smelting and mining
facilities the company owns have a history of over 230 years. In the 18th and
19th centuries Alaverdy Copper Smelter was able to produce as much as 60 to 200 tons of copper
per annum. At the beginning of the 20th century the production capacity was at
about 2,000 tons of copper per year. The peak of production was achieved at
1980s-90s, when nearly 55,000 tons of refined copper was being produced
annually.
ACP is engaged in exploration, development, production, processing and marketing of minerals and metals. Besides, the company is also involved in acquisition, exploration and development of mining properties in Armenia. Currently ACP facilities are designed for annual production of up to 10,000 metric tons of blister copper produced from copper concentrate and about triple that amount of re-smelted secondary copper, produced from copper scrap. The company also possesses copper powder shop with annual capacity of 3,000 metric tons, and a copper vitriol shop with up to 30,000 tons capacity.
ACP is part of a larger group of companies with main operations in Armenia, Russia and Liechtenstein. It has common shareholders with several other leading companies in the Armenian mining and metallurgy sphere. Aside from the operating copper-gold mine and the treatment plant, affiliated companies hold exploration and/or exploitation licenses of about a dozen of Armenian metallic deposits. The group now includes also Mining and Metallurgy Institute, where majority shares have been purchased after a privatization deal in 2002. With the addition of the Institute’s competence, ACP and affiliated companies together now possess a unique capacity of designing and implementing turn-key projects in the mining sector, by conducting geological exploration of a prospect, doing reserve assessment and presenting for reserve approval, and implementing design and construction of open pit and underground mines and treatment plants.
The equity capital of ACP, now about USD 7 mln, is shared between two foreign entities.