ArmInfo. Armenia's mining industry possesses real development potential , Ambassador Richard M. Mills, Jr. stated within his opening remarks at the sustainable mining business conference, held in Yerevan on November 16.
According to Ambassador Mills, this potential should be implemented within the observance of nature protection and environment requirements, as well as mining sectors employees safety rules. The mining industry conforming high environmental and social standards could become a reality for Armenia. As an example of that, the Ambassador mentioned the Amulsar Gold mining Project. At the same time the Ambassador expressed a hope for the further development of those companies actually performing already. He said also, that the correct utilization of mining sector opportunities in Armenia will lead to new job openings.
"Today we're focusing on the mining sector, because as you know, it is one of the leading sectors in the Armenian economy and a major contributor to the GDP and the country's exports. Mining represents real opportunities for Armenia," said Ambassador Mills. "And these opportunities are not just ideas on paper; there are successful mining enterprises that are already in operation and looking to expand. We want to see them grow, and at the same time preserve the country's natural beauty, invest in the communities where they operate, and protect their workforce," Ambassador Mills stated.
U.S. Embassy in Yerevan, in partnership with the Ministry of Economic Development and Investments, the Ministry of Energy and Natural Resources, and HSBC Bank, organized a one-day sustainable mining business conference. The goal was to connect Armenian mine operators with well-known U.S. companies that offer products and services that ensure greater mine productivity, employee safety, and nature protection. Representatives from seven leading U.S. companies and 35 Armenian mining companies attended the event.
The conference was designed by the U.S. Embassy in Yerevan, in partnership with the Ministry of Economic Development and Investments, the Ministry of Energy and Natural Resources, and HSBC Bank, to strengthen the growing commercial ties between the United States and Armenia by introducing leading American businesses to Armenian mining sector operators, and by giving the American companies the opportunity to showcase the latest technological advances in the field. Representatives from seven leading U.S. companies and 35 Armenian mining companies attended the event.
To note, the industrial production volume in Armenia during January-September 2016 grew for 7.1% versus that for the same period of last year (against 4,8% growth a year ago), forming AMD 1 trln (USD 2,1 bln). The main driver for economy speeding is still the mining sector. In January- September 2016 the mining sector showed 13,7% grow (versus 40,5 % grow a year ago) - up to AMD 188,4 bln. The volumes of the mining sector for January-December 2015 formed AMD 221,2 bln, with an annual growth of 50,4%. The deal of the sector in GDP is AMD 5032,1 bln in annual view, or 4,4 % GDP.