Agarac Copper-Molybdenum Combine summarized the interim results of implementation of anti-crisis investment programs under the Government of Armenia's stabilization loan of $ 14 million. Let’s recall that, in connection with last year's severe crises in the mining sphere of Armenia, which suffered from a sharp decline in raw material prices in the international market, the Government of Armenia in June 2009, in order to stimulate the development of the mining industry has taken the decision (according to Government Decision № 719-A) for providing a budget loan to 3 largest mining companies “Zangezur Mining”, “Armenian Molybdenum Production” and “Agarak Copper-Molybdenum Combine”. ACMC was granted a loan of $ 14 million with a payment term of 4 years at a rate of LIBOR +8%, under a program aimed at reducing costs and improving competitiveness of production. According to the press service of GeoProMining in Armenia, which owns ACMC, the program involves a systematic approach, including capital investments to modernize production and improve the skills of middle management staff, as well as changes in organizational structure. The investment project includes modernization of the deposit and the reconstruction of the plant. Since autumn 2009 five BelAZ dump trucks of 55 ton capacity were brought into Armenia, which were put into operation at the open pit. Were obtained also wheel loader BelAZ, two wheeled tractors TK and one tractor with bulldozer and loosening equipments. The plant also acquired excavator Caterpiller 345 CL, which is in the process of arrival. Purchase of mining equipment is part of the anti-recessionary program, aimed at increasing production and promoting efficient operation of the mine. Under the program, informed the press service, in November 2009, the company acquired a new flotation equipment of European manufacturer Metso Minerals, which meets all the necessary technical requirements. Flotation park will be installed in the new-built complex, which will add additional capacity to ensure increased productivity. In August 2009, the Group GeoProMining commissioned the international company "Mekhanobr" to prepare a feasibility study (FS) of the reconstruction of the plant. The project itself on the reconstruction will be ready in December 2010. The project is an integrated approach to designing new and upgrading existing plant, including the development of efficient technologies, modern design solutions and use in projects of technological equipment with high technical and economic indicators. The designer offered his know-how, implementation of which will reduce production costs and increase the yield of the concentrate. As a result, increase of production: increase of the concentrate by 2-3% and at least 10% planned to reduce production costs. In turn, the Institute <<Mechanobr>> signed a contract with a mining and metallurgical Institute of Armenia for joint cooperation in the project. Along with that, in June 2010 ACMC started a program for the exploration, which will result in grow of ore reserves at the deposit to 160 million tons. During the first half of 2010 the company fulfilled the program of stripping in the record volumes for the last 20 years. It is planned to implement the stripping work at 2.2 million cubic meters, which will increase the effectiveness of mine operation. The company began repairing and construction work as the facade and internal nature. For the 6 months of 2010 JSC "Agarak Copper-Molybdenum Combine (ACMC), compared with the volumes of production for the second half of 2009 increased the production of copper concentrate at 12.29% and molybdenum concentrate at 2.4%. Production volumes totaled 15 159 tons of copper and 254 tons of molybdenum concentrate. Currently, the company continues to the stages of investment program processes. Since December 2009 the company started to make payments on the loan. Total loan amount will be used in 2010. Reconstruction project suggests additional investment. Recall that a group of companies GeoProMining acquired the shares of Agarak Copper-molybdenum Combine” in December 2007. GeoProMining specializes in extraction, enrichment of polymetallic ores (copper, molybdenum, antimony) and precious metals (gold, silver). Deposits and ore-processing plants of the company are located in Armenia, Georgia, Russia and Vietnam.