Message from the Chairman
Message from the Chairman
Over the past couple of years ACP has made a serious advance in implementation of its strategic plan. In particular, the company has moved towards upstream integration, acquiring mine exploration and exploitation licenses and building a new concentrating mill to allow processing of the extracted ore. The company is also exploring the feasibility of reconstructing the entire metallurgical production, making it both environmentally friendly and economically more efficient.
Aside from secured raw material supplies and product sales, the company is also benefiting from EBRD loan facility allowing the company to receive working capital financing from the Bank.
We are also preparing to approach banks and potential investors to raise financing for our expansion plans. Projects like development and the expansion of the Alaverdy mine, mine preparation and establishment of a concentrating facility at other deposits (including not only relatively small ones like Hankadzor and Tandzout, but also a major one at Teghout), and complete reconstruction of metallurgical facilities are being prepared to present to potential partners.
We welcome all interested parties to explore opportunities in cooperating with us to develop mining and metallurgy sector of Armenia.
Valery Medzhlumyan
Chairman