Economy Minister, ZCMC management discuss potential for building new  copper smelter

ArmInfo. The Minister of Economy of Armenia, Gevorg Papoyan, visited the Zangezur Copper and  Molybdenum Plant (ZZCMC) as part of his visit to the Syunik region.

As reported by the press service of the economic department, the  Minister, accompanied by the general director of ZCMC, Roman  Khudoliy, visited the open pit mine, semi-automatic mill and crushing  shop, where he got acquainted with the production process and learnt  about ZCMC's efforts to modernize and increase productivity.  After  the visit, Papoyan and Khudoliy discussed issues related to the  enterprise's activities, development plans, state support economic  policies and instruments, as well as the possibility of building a  new copper smelter.

The Minister of Economy noted that  Zangezur Copper and Molybdenum  Combine is the leading mining company in Armenia and one of the  largest taxpayers in Armenia. In this regard, he recalled that in  2024, the company transferred over 101 billion drams to the state  treasury in taxes. <With more than 4,600 employees, ZCMC is one of  the largest employers. The company's products (copper and molybdenum  concentrate) provide a significant share of Armenia's exports. ZCMC  is a prime example of how the people, through the Government of the  Republic of Armenia, can have a share in a mine. The company  not  only paid significant taxes, but also distributed dividends, with  about $ 100 million transferred to the state budget,>  Papoyan said.  According to the report of the Ministry of Economy, ZCMC has  developed a strategy to comply with the best international standards  of sustainable development, adopting a plan for the phased  implementation of environmental, social and managerial reforms.