EBRD SUPPORTS ARMENIA METAL MINE

BY KEITH NUTHALL THE EUROPEAN Bank for Reconstruction & Development (EBRD) is preparing to lend US$25 million to modernise and expand Armenia's Kapan mine, which has substantial copper, zinc, silver and gold reserves. The money would go to operator the Deno Gold Mining Company, controlled by Canada's Dundee Precious Metals Inc. The loan would fund mining efficiency improvements and environmental performance reforms said an EBRD memorandum, allowing new owner Dundee "to increase production substantially while assessing the long term productive capacity ...


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