On October 29, GeoProMining Gold company presented a project on reconstruction of Ararat gold recovery plant and construction of a new plant with introduction of Albion innovative technology.

The presentation was held by international specialists of leading mining companies in the world, such as Xstra Tecnology, Core Resources, as well as FRASER ALEXANDER and epoch, which are specialized in modernization of tailings dams. A delegation of GeoProMining Group management led by President of the Group Roman Khudoliy also partook in the presentation.

Roman Khudoliy told journalists that a feasibility study of Albion technology, as well as all design works by international specialists will be completed by June 2011. They will be followed by the launch of construction works of the new plant with introduction of the new technology. The works will be finished in 2013. According to him, the volume of investments in the project may amount to USD 100mln.