Kapan Ore-Dressing Combine
CJSC

 

Copper industry in Kapan has one and a half-age-old history. The first combine in this field was “Kapan Ore-dressing combine” CJSC. It was founded on base of Kapan ore-dressing factory established in 1935.
The combine has a rich history of rises and falls. It was operating even during the war of 1992-94 years.
Later conditioned by the unforeseen fall of the copper price in international market and other reasons the combine lost its former achievements. The combine with 360 employees had output with total amount of 739 million drams in 9 months.In 2002 the combine had debts of millions drams including the salary of employees that was not
paid during dozens of years.
The migration of qualified staff had increased. Considering the existing situation 100% package of the company shares was sold to the Swiss “Deno” company according to RA Government decision. The measures undertaken immediately by “Deno” radically changed the situation. Considering the role of Zangezour Copper-molybdenum combine on international scene “Deno” has entrusted the management right of Kapan Ore-dressing combine to it. Salary debts and a part of electricity debts of one and a half-year were paid off by the first investments from the side of the new owner. Other important steps were undertaken to restore main production process, promote its further expansion and improve the output quality. The combine restarted its activities in December 2002. In a month it gave output (copper and zinc concentrate) of 300.000 US dollars. It has been planned to increase the amount of production 2-3 times in short period of time. New employees are being involved. Necessary equipment and floating capital are being acquired.
In 2003 it is planned to provide output of 800.000 -1 million US dollars. In the coming years “Deno” is planing to make investments of 10-15 million US dollars in Kapan Ore-dressing combine.