ArmInfo.Despite making a significant contribution to the country's economic development and tax base, Armenia's mining industry, unfortunately, does not fully utilize its full potential according to international standards. This was noted by Vardan Janyan, First Deputy General Director of the Zangezur Copper and Molybdenum Combine (ZMMC) and President of the Union of Miners and Metallurgists of Armenia, during his report at the Mining Armenia Forum.
In particular, he said that since 2014-2015, the mining sector has been stagnating and has not been able to achieve significant growth in overall volumes of ore processing. Janyan noted that from 2015-17, only one company registered growth, but then it returned to the 2013-2014 figures. he emphasized. The head of the Union also said that the mining sector accounts for 5 to 15% of the total taxes collected in the country. This percentage does not even include the multiplier effect of the sector itself. He pointed out that the industry today pays more taxes than all other operating enterprises and individuals in Armenia combined, a trend that has been consistent since the early 2000s.
, Janyan noted. Despite the enormous potential and good raw material base, in his opinion, Armenia still has a lot of work to do to advance the sector and achieve significant economic growth. He pointed out several options, including launching new deposits like Lichk, Amulsar; increasing productivity at existing ones such as Agarak, Kapan, Kajaran, Teghut, and starting new deposits. While the last option is a lengthier process, it is an important area that deserves attention.
