Mining-Sector Leader Has Strong Track Record in Europe

Pure Iron Plant demonstrates the potential of Armenia’s mining sector. Founded two decades ago, the company has developed a strong presence in European and global markets thanks to its reliable services and high-quality products. Chairman of the Board Henik Karapetyan explains, “We mainly work with one factory producing molybdenum, which exports all its production to Europe. We partner with the German leader Cronimet, which sells our products all over the

world.” Pure Iron Plant is a joint-stock enterprise in which Kroniment has a 51% stake and three European companies also hold shares.

Henik Karapetyan points out that Pure Iron Plant upholds international standards of quality, employee safety and environmental protection, and strives to achieve significant revenues for its shareholders as well as benefits for the Armenian economy. He adds, “We offer a bigger variety of products than our competitor here in Armenia and we have proven ourselves to be more profitable. We fully comply with all the government’s regulations concerning the environment and have invested in improvements to make sure that we are in accordance with all laws. In addition, we always maintain a high level of safety and give our employees regular health checkups.”

Successful cooperation with international partners

Pure Iron Plant has a solid track record not only as a reliable source of international-standard products but also as a desirable partner in Armenia for foreign investors. Henik Karapetyan says, “Our company has been working with Europeans for over 19 years and has never had a problem with any of our European customers and partners. We have also grown tremendously since our beginnings to reach the level where we now are.”

Through its efficiency, reliability and quality products, Pure Iron Plant is playing a significant role in improving Armenia’s international image. Henik Karapetyan points out that the country’s reputation for corruption is exaggerated and that leading Armenian companies like Pure Iron Plant have proven themselves capable of meeting EU and international performance standards.

Henik Karapetyan says, “When we began working with Kroniment, they knew nothing about Armenia except jokes, but now the president of Kroniment promotes Pure Iron Plant and Armenia in Germany. In addition, our good work for other European partners has helped them see the potential in our country.” Pure Iron Plant will continue to contribute to Armenia’s on-going development and welcomes the chance to work with partners in Europe and beyond.