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.
