Minister: Price decline on global metal market cannot help causing concerns

 

The press office of the Armenian Ministry of Energy reports that Zakharyan stressed the need to join efforts to find a way out of the current situation and try to overcome the current problems in the mining enterprises, especially as the mining sector ensures thousands of jobs. The reduction of jobs under the current conditions is unacceptable, he stressed.   

 

The participants pointed at the difficulties caused by the formation of prices on the world markets, and presented their own problems and proposals that can mitigate the consequences of the price reduction. They mostly concerned the need for changes in the current legislation and the opportunity of financial support by the state.     

 

When summing up the results of the meeting, Yervand Zakharyan said that the proposals will shortly be discussed with the structures concerned and afterwards will be submitted to the government. In thus 

light, the minister stressed the need for more effective work of the enterprises.   

 

To note, over the past two months the copper price at the London Metal Exchange has dropped from $5135.5 to $4486.5 per ton. The copper prices considerably dropped last year due to the slowdown in 

the growth in copper demand in China and the rising price of the US dollar. This year the global copper prices have dropped by about one-fourth due to the surplus supply of this metal on the world market and the concern about the condition of the Chinese economy.