Saturday, October 4 2025 14:24
Aline Grigoryan

Geological service to be founded in Armenia in 2027 

Geological service to be founded in Armenia in 2027 

ArmInfo. A national geological service will be established in Armenia in 2027. Deputy Minister of Territorial Administration and Infrastructure of Armenia  Asatur Vardanyan announced this to journalists on the sidelines of  the Mining Forum Armenia.

Currently, the Ministry is taking effective steps, collaborating with  foreign geological services, particularly from the United States and  EU countries. "And we are trying to implement this model here," he  noted.

Vardanyan explained that the state will commission these surveys from  the geological service, which will allow the identification of new  deposits and their offering to investors, who will receive guarantees  of investment protection and a high degree of predictability.

It's worth noting that in his speech at the forum, Roman Khudoli, CEO  of ZCMC, the country's largest mining company, noted that no new  mining deposits have been discovered in Armenia over the past 10  years, and not a single new enterprise, even medium-sized, has been  established. This poses a serious challenge that requires urgent  attention. In light of this, Khudoli did not rule out the possibility  that many of the eight operating mining companies in the country will  cease mining operations by 2038. "If nothing is done, the sector will  become exhausted," the head of ZCMC noted. He emphasized the  importance of conducting geological exploration in Armenia, noting  that a mine operator cannot undertake such tasks independently.  Despite ZCMC conducting such research itself, Khudoli emphasized that  a strong state strategy and policy are needed to withstand such a  burden in this area. He emphasized the need to create an Armenian  geological service that would undertake the study of the country's  subsoil, future deposits, the assessment of promising areas,  geological surveys, etc.

As a reminder, until the mid-1990s, the Armgeology Geological  Production Association operated in Armenia, conducting geological  surveys and reserve assessments. The State Register of Mineral  Reserves currently lists approximately 670 solid mineral deposits  with confirmed reserves, including 30 metallic deposits. Of these  deposits, approximately 400 are being exploited, including  approximately 20 metallic deposits. The subsoil of the Republic of  Armenia is rich in the following metallic minerals: iron, copper,  molybdenum, lead, zinc, gold, silver, antimony, aluminum, as well as  the rare metal placers contained within them. Among metallic  minerals, there are 7 copper-molybdenum deposits, 4 copper deposits,  14 gold and gold-polymetallic deposits, 2 iron ore deposits, and 1  aluminum ore deposit. In addition to the main metals, rare elements  and their placers have been identified in the ore of deposits  registered in the State Register: rhenium, selenium, tellurium,  cadmium, indium, helium, thallium, bismuth and others.

POST A COMMENT
Input digits     


News
Vahagn Khachaturyan, insurance company representatives discuss  process  of implementing universal health insurance Vahagn Khachaturyan, insurance company representatives discuss  process  of implementing universal health insurance 
26,768 babies born in Armenia in  first 10 months26,768 babies born in Armenia in  first 10 months
Armenia`s service sector revenue reached $8.6 billionArmenia`s service sector revenue reached $8.6 billion
In  Armenia`s interbank foreign exchange market from December 1 to 5,  2025, dollar transactions decreased, while  ruble transactions  increasedIn  Armenia`s interbank foreign exchange market from December 1 to 5,  2025, dollar transactions decreased, while  ruble transactions  increased
Armenia`s trade sector growth rate decliningArmenia`s trade sector growth rate declining
Cargo transportation in Armenia increased by 2% in January-October,  while passenger transportation decreased by 2.3%Cargo transportation in Armenia increased by 2% in January-October,  while passenger transportation decreased by 2.3%
Armenia`s communications sector grew by 2.3% in 10 monthsArmenia`s communications sector grew by 2.3% in 10 months
AraratBank Participates in “Women’s Empowerment Principles in Armenia” ConferenceAraratBank Participates in “Women’s Empowerment Principles in Armenia” Conference
In Armenia, economic activity growth in January-October 2025 remained  steady at 8.1%, while foreign trade continued to declineIn Armenia, economic activity growth in January-October 2025 remained  steady at 8.1%, while foreign trade continued to decline
Wine and cognac production in Armenia declining at  double-digit rateWine and cognac production in Armenia declining at  double-digit rate
Power generation in Armenia increased by 7.9% in 10 monthsPower generation in Armenia increased by 7.9% in 10 months
Armenia`s metallurgy industry declined over 10-months Armenia`s metallurgy industry declined over 10-months 
Annual inflation in Armenia continues to accelerate, not exceeding  targetsAnnual inflation in Armenia continues to accelerate, not exceeding  targets
Armenia`s industrial sector declined by 3% in 10 monthsArmenia`s industrial sector declined by 3% in 10 months
Ardshinbank Lowers Interest Rates on Unsecured Consumer LoansArdshinbank Lowers Interest Rates on Unsecured Consumer Loans
IMF approves new three-year SBA (Stand-By Arrangement) with Armenia  amounting to $175 millionIMF approves new three-year SBA (Stand-By Arrangement) with Armenia  amounting to $175 million
Armenia attends Armenia attends "Resourcing Tomorrow" mining exhibition in London
Armenian Parliament ratifies agreement facilitating freight  transportation along EAEU transport routesArmenian Parliament ratifies agreement facilitating freight  transportation along EAEU transport routes
CBA head  announces international insurance group entering Armenian  marketCBA head  announces international insurance group entering Armenian  market
Economy Minister: Armenia sets record number of tourist visits in  NovemberEconomy Minister: Armenia sets record number of tourist visits in  November
Ardshinbank recognized as “Bank of the Year” in Armenia for the fifth time by The Banker magazineArdshinbank recognized as “Bank of the Year” in Armenia for the fifth time by The Banker magazine
National Assembly of Armenia adopted  draft state budget for 2026National Assembly of Armenia adopted  draft state budget for 2026
In 2025, improving public sector attractiveness and competitiveness   to cost  state treasury  additional $9 millionIn 2025, improving public sector attractiveness and competitiveness   to cost  state treasury  additional $9 million
Acba bank and France’s Proparco to continue strengthening their long-term strategic partnershipAcba bank and France’s Proparco to continue strengthening their long-term strategic partnership
Strengthening cybersecurity and protecting digital environment  continue to be among RA government`s priorities Strengthening cybersecurity and protecting digital environment  continue to be among RA government`s priorities 
Armenia intends to receive EUR 100mln credit line from FARArmenia intends to receive EUR 100mln credit line from FAR
Armenia to redistribute unused electric vehicle import quotas -  ministerArmenia to redistribute unused electric vehicle import quotas -  minister
Armenian Cabinet approves Free Trade Agreement between Eurasian  Economic Union and Indonesia.Armenian Cabinet approves Free Trade Agreement between Eurasian  Economic Union and Indonesia.
Ardshinbank and Visa are running a cashback campaign for their cardholders ahead of the New YearArdshinbank and Visa are running a cashback campaign for their cardholders ahead of the New Year
Armenia amends loan agreement with FDA to receive funds as early as  2025Armenia amends loan agreement with FDA to receive funds as early as  2025
 Armenian Card reports: Currently, due to technical issues with  Armenia`s internet channels, online transactions are not being  certified Armenian Card reports: Currently, due to technical issues with  Armenia`s internet channels, online transactions are not being  certified
RA ambassador to U.S. visits 6th Energy Innovation and AI forum 2025RA ambassador to U.S. visits 6th Energy Innovation and AI forum 2025
Development of small aviation  one of Armenian government`s  priorities - PashinyanDevelopment of small aviation  one of Armenian government`s  priorities - Pashinyan
RA Finance Minister: Armenia can repay public debt in 1.5 yearsRA Finance Minister: Armenia can repay public debt in 1.5 years
Arsen Torosyan: Raising the minimum wage has fiscal consequencesArsen Torosyan: Raising the minimum wage has fiscal consequences
Economy Minister: One of  directions for accelerated economic  development in Armenia by 2031 could be consolidation of all  micro-strategies into six major onesEconomy Minister: One of  directions for accelerated economic  development in Armenia by 2031 could be consolidation of all  micro-strategies into six major ones
Team Holding announces launch of bond placementTeam Holding announces launch of bond placement
AraratBank Joins Armenia`s New Greening Initiative: 100 Hectares of New Forest within Three YearsAraratBank Joins Armenia`s New Greening Initiative: 100 Hectares of New Forest within Three Years
FLYONE ARMENIA airline to launch Yerevan-Vienna-Yerevan flights next  April FLYONE ARMENIA airline to launch Yerevan-Vienna-Yerevan flights next  April 
Poverty does exist in Armenia, but government taking steps to  eradicate extreme poverty - premier Poverty does exist in Armenia, but government taking steps to  eradicate extreme poverty - premier 
Positive trend of high tax revenue growth in Armenia Positive trend of high tax revenue growth in Armenia 
Meeting with FAO delegation at RA Ministry of Economy Meeting with FAO delegation at RA Ministry of Economy 
Election promises kept - premier Election promises kept - premier 
Armenia, U.S. agree to launch joint initiatives to deepen bilateral  economic cooperationArmenia, U.S. agree to launch joint initiatives to deepen bilateral  economic cooperation
Expert critical of compulsory medical insurance Expert critical of compulsory medical insurance 
Textile Industry Operator  established in ArmeniaTextile Industry Operator  established in Armenia
Kaja Kallas: EU to provide Armenia with 15 million euros to  strengthen resilienceKaja Kallas: EU to provide Armenia with 15 million euros to  strengthen resilience
Armenia, Latvia to strengthen cooperation in several areas of  technologyArmenia, Latvia to strengthen cooperation in several areas of  technology
Edmon Marukyan to Marta Kos: If you really want to help, then support  us in constructing a new nuclear power plantEdmon Marukyan to Marta Kos: If you really want to help, then support  us in constructing a new nuclear power plant
Maintenance of NPP turbogenerators completed ahead of schedule Maintenance of NPP turbogenerators completed ahead of schedule 
Armenian NPP to continue cooperation with Chinese partners Armenian NPP to continue cooperation with Chinese partners 
S&P Global Ratings has assigned IDBank CJSC a long-term rating of “BB-” and a short-term rating of “B” with a “stable” prospect.S&P Global Ratings has assigned IDBank CJSC a long-term rating of “BB-” and a short-term rating of “B” with a “stable” prospect.
No import quota for electric cars in Armenia as of Nov 2, 2025 -  minister No import quota for electric cars in Armenia as of Nov 2, 2025 -  minister 
Armenian economy minister presents TRIP program in Vayots DzorArmenian economy minister presents TRIP program in Vayots Dzor
Head of RA State Revenue Committee participating in 9th High-Level  Meeting of Asian InitiativeHead of RA State Revenue Committee participating in 9th High-Level  Meeting of Asian Initiative
Euromoney Names Ameriabank Armenia’s Best Bank for Real Estate for the Second Year in a RowEuromoney Names Ameriabank Armenia’s Best Bank for Real Estate for the Second Year in a Row
RA ambassador to U.S., Trump Administration officials discuss  expansion of bilateral economic cooperation RA ambassador to U.S., Trump Administration officials discuss  expansion of bilateral economic cooperation 
S&P Global Ratings has assigned IDBank CJSC a long-term rating of “BB-” and a short-term rating of “B” with a “stable” prospect.S&P Global Ratings has assigned IDBank CJSC a long-term rating of “BB-” and a short-term rating of “B” with a “stable” prospect.
EDB: Armenia`s economic growth projected to remain high through 2025EDB: Armenia`s economic growth projected to remain high through 2025
Armenian Finance Minister emphasizes importance of ensuring tax  system predictabilityArmenian Finance Minister emphasizes importance of ensuring tax  system predictability
Read more
Exchange rates
05.12.2025
RUB4.970.03
USD381.500.36
EUR444.45-0.23
GBP508.810.22
CAD273.570.66
JPY24.59-0.04
CNY53.970.07
CHF475.15-0.98