Armenian producer ups ferromolybdenum output 7% in 2011
YEREVAN Jan 25 (Interfax) - Armenia-based OJSC Pure Iron raised ferromolybdenum output 7.1% in 2011 to 3,005 tonnes, the company told Interfax.
Output edged up in value to 24.197 billion dram in 2011, from 24.009 billion dram in 2010 (387.69 dram/$1 on Jan. 25).
The company also produced 486 tonnes of pure molybdenum (5.823 billion dram), up from 465 tonnes (5.756 billion dram) in 2010.
It exported 3,012 tonnes of ferromolybdenum (24.004 billion dram) in 2011, up from 2,800 tonnes (23.961 billion dram) in 2010; and 480 tonnes of molybdenum (5.72 billion dram) compared with 468.5 tonnes (5.769 billion dram). All output was exported to Europe.
The company is 51%-owned by Germany's Cronimet Mining. Armenian resident private individuals own the rest.