Epress.am News from Armenia
Despite the fact that international copper prices have stopped falling and have averaged between $4.300 and $4.500 per ton, the state of Armenia's mining companies continues to worsen, local Haykakan Zhamanak daily newspaper reports.
At least two of the companies, the daily notes, have serious financial issues. Namely, Akhtala Mining Plant is no longer able to pay it's employees' salaries, while the Sagamar Processing Plant at Armanis village has stopped working altogether about half a year ago.
“According to some reports, the government is discussing the option of granting state-funded loans to several mining companies. This option, however, is considered risky since a rise in the prices of non-ferrous metals is not expected in the next 1-2 years, thereby miners might not be able to return the loans,” Haykakan Zhamanak writes.