Within five years, Armenia`s mining industry could generate $3  billion in exports - Vardan Janyan 

ArmInfo. Within five years, Armenia's mining industry could generate $3 billion in exports. Vardan Janyan, First Deputy Director of the Zangezur Copper and  Molybdenum Combine (ZCMC) and head of the Mining and Metallurgical  Association of Armenia, stated this in an interview with journalists  on the sidelines of the Mining Armenia Forum.

"For comparison, another sector with impressive export potential is  tobacco production, with finished product exports amounting to $300  million per year. The remaining sectors account for much smaller  volumes. That is, other export sectors are not comparable to ours,"  he noted.

According to Janyan, the $3 billion figure could be reached by  restarting Lydian Armenia, which operates the Amulsar gold mine. In  this regard, he expressed hope that the company will begin production  and exports as early as next year.

According to the deputy head of ZCMC, the mining industry's export  volume currently stands at approximately $1 billion, with Lydian  Armenia providing another $1 billion.  The remaining amount will be  provided by expanding the production capacity of other players in the  sector, including ZCMC, the Teghut and Agarak mines, and smaller  ones.  "We see that this is an opportunity. Business is ready for  this, and I think the government is ready and willing as well.  Therefore, we can only work tirelessly in this direction," Janyan  emphasized.

It should be noted that, according to the Statistical Committee of  the Republic of Armenia, mining and open-pit mining output decreased  by 1% year-on-year in January- July 2025, amounting to 265 billion  drams. Metal ore mining declined by 2% to 245.6 billion drams.  According to the RA Customs Service, in 2024, Armenia increased its  copper ore exports by 20.4% to 341,500 tons (compared to a 20.4%  decline in 2023). The customs value of copper ore increased by 15.5%,  reaching $558.3 million.

Copper ore was primarily exported to China (76.6%), Bulgaria (13.3%),  Serbia (2.8%), Switzerland (2.6%), Russia (2.4%), and Iran (2.2%).  Smaller shipments were also exported to the Netherlands, the United  Kingdom, and Australia. Exports of molybdenum concentrate increased  by 2.5% during the reporting year (compared to 8.2% growth in 2023),  amounting to 11.4 thousand tons, with a decrease in customs value by  4.1% - to $ 220.6 million. Molybdenum concentrate was supplied from  Armenia to the markets of Belgium (41.6%), China (17.9%), Russia  (13.2%), Hong Kong (7.7%), the Republic of Korea (6.3%), Thailand  (5.3%), the Netherlands (4.9%), as well as Slovenia, Austria, India,  Australia, the United Kingdom