ArmInfo.The Armenian government decided to establish a state duty of 15% of the international price for the issuance of licenses, permits and certificates for the export of raw materials, in particular ferromolybdenum, copper and molybdenum concentrate to third countries, provided that international prices for the latter remain high. This is stated on the official Facebook page of the Ministry of Economy of Armenia.
Given the preservation of export volumes, at the proposed rates of the state duty, in general, the annual revenues to the budget will amount to about 72 billion drams.
According to the source, these changes are carried out in order to channel the high profits obtained from the exploitation of the country's subsoil to the development of strategic assets of the processing industry and the mining sector, deepening production chains, stimulating more efficient operation of mines and increasing the productivity of existing deposits with the introduction of new technologies, stimulating more responsible mining industry, reducing harmful emissions as much as possible.
"Today, excess profits are generated in the sector which, according to the Ministry's research, is taxed ineffectively," the statement said.
It should be noted that more than 670 solid mineral deposits with proven reserves, including 30 metallic ones, are registered on the state balance sheet of mineral reserves in Armenia. In terms of metallic minerals, there are 7 copper-molybdenum deposits, 4 copper, 14 gold and gold-polymetallic deposits, 2 iron ore and 1 aluminum ore. Among the deposits registered in the State Balance, in addition to the basic metals, rare elements and their placer were revealed: rhenium, selenium, telurium, cadmium, indium, helium, thallium, bismuth and others. Currently, for the mining and metallurgical complex of Armenia, the final products are mainly concentrates (copper, molybdenum, zinc, in some cases - with a high content of gold and silver, in the near future - also lead concentrate), which does not allow full use of the economic potential of the deposits. According to experts, the decision on duties was made not only for fiscal purposes, but also with the aim of stimulating the creation of a cumulative economic effect in the country in the extraction, processing and production of final products. It is about organizing production for the processing of metal minerals mined in Armenia in a closed and final cycle, which will make it possible to obtain products with high cost.
