The South-Caucasus Railroad and GPMGold have signed an agreement to organize gold-bearing ore transportation from the Sotskoye deposit to Ararat Gold-Extracting Factory.
According to the document, the volume of ore to be transported over 269 km is 1.5 million tons, up by 10% YoY.
Last year 1.18 million tons of ore were transported.
Since 2008 GPMGold has invested $200 million in the factory and the deposit modernization. At present the company employs 1240 people, including 753 at the deposit and 432 at the factory. (Ukrainian metal)