ArmInfo.Moody's Investors Service international rating company is interested in evaluations of mining enterprises in Armenia. This was announced during a meeting of Moody's representatives with RA Deputy Minister of Territorial Administration and Infrastructure Lilia Shushanyan.
According to the official statement of the department, during the meeting the parties discussed the role of the mining industry in the economic development of Armenia, as well as issues relating to individual enterprises operating in this field.
The deputy minister, at the request of the guests, introduced the process of implementing reforms in the mining industry. In particular, Shushanyan noted that in order to develop the field, the government's priority will be balancing the effective management of ore reserves, providing a predictable environment for industrialists and managing environmental risks.
An agreement was reached on providing additional information on a number of issues that aroused the interest of the rating company's specialists.
According to ArmInfo analysts, this interest is associated with the entry of the country's largest mining enterprise - Zangezur Copper-Molybdenum Combine (ZCMC) - into the bond market. It is possible that following ZCMC other companies in the industry will enter the bond market for inexpensive resources.
It should be noted that according to the RA Statistical Committee, the volume of industrial production in Armenia in 2019 compared with 2018 accelerated growth to 9% to 2.104 trillion drams ($ 4.4 billion). The acceleration of the upward dynamics is provoked by the trend of the mining sector from recession to growth. Thus, during the reporting period, mining and open pit mining recorded an increase of 23.9% (against a 14% decline a year earlier) - up to 356.3 billion drams.
