Mining industry should pursue development of production chain 

ArmInfo.The mining industry should pursue the development of production chain, as stated by Armenian Minister of Economy Gevorg Papoyan to journalists on the  sidelines of the Mining Armenia Forum.

In this context, he noted that the industry's current exports consist  of raw materials. However, an agreement has  been reached with the  Zangezur Copper and Molybdenum Combine to move to more complex  processing stages. "This is one of the state's goals-to move towards  the production of more complex products," he said. In this regard,  the Minister cited the economic complexity index, noting that Armenia  has slightly improved its position in this area, but  further work is  still needed. 

"For instance, we'll start from processing  copper concentrate into  copper ingots, which will then be transformed wire, and the wire will  become a relay, and the relay will become some kind of electrical  equipment or component. ZMMC believes this is possible. But to do  this, we will need to expand the deposit area and enhance production  capacity. This isn't a simple decision. If we make it, it will be a  strategic move, that requires discussion with our community," Papoyan  explained.

In response to an ArmInfo correspondent's question about the  readiness and capabilities of other market players, Gevorg Papoyan  noted that when talking about developing production chains, he  primarily refers to ZMMC and the Amulsar mine. Specifically, speaking  about the latter, the Minister noted that the company has two more  deposits, although larger ones. "That is, we have quite significant  potential there," he noted.

During the conversation with journalists, Papoyan also presented  other challenges and problems facing the industry. Specifically, he  noted that some of Armenia's existing deposits will be exhausted  within 15-20 years. Therefore, there is a need to find new deposits.  "If this is a priority for us, then we must continue investing to  ensure it remains a key economic sector," the Minister of Economy  said.

Additionally, he noted that, in line with current conditions, it is  essential to have appropriate environmental standards. "It is  important for the industry to be economically efficient. But if its  activities pose environmental risks, they must have minimal impact on  society," Papoyan emphasized.