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History

"Base Metals" CJSC was founded on August 7, 2002. The objective was to mine copper-gold ore deposits found in village Drmbon, Martakert region, NKR by constructing a mining complex. Based on an evaluation survey of Drmbon copper-gold ore body deposit, the mine was prepared for industrial exploitation and the construction of the ore processing plant started. In 13 months from the launch of the construction works, copper-gold concentrate production began.

About 2,9 million tons of ore were extracted from Drmbon underground mine and about 206,000 tons of concentrate were produced. To process the tails another plant was built and about 600,000 tons of tails were processed.

Drmbon Mining Complex always followed the stringent requirements set by leading international standards related to environmental and social responsibility.

The company has started major geological surveys in Kashen copper-molybdenum ore body since 2007. 272 boreholes have been drilled totaling about 49,000 m long core samples.

About 56 million tons of ore deposits have been estimated within the optimal boundary of the current open pit.

In the last quarter of 2012 major stripping works started. Since April, 2013 copper- molybdenum ore has been extracted and trucked to Drmbon processing plant until the construction of an ore processing plant in Kashen.

In April, 2014 Kashen Mining Complex construction works started. A year and 9 months later Kashen Mining Complex was started officially with 2 million tons of annual ore production capacity.

The company has about 1300 employees. Company investments in Drmbon and Kashen Mining Complexes have been 90 and 130 million US respectively.