Armenia, the world's sixth-largest producer of molybdenum, aims to reinforce its position in the global market for this critical metal. These plans are outlined in a strategic export program developed by Ameria Management Advisory, Modex, and international expert Andreas Klassen, with funding from USAID.
In 2023, Armenia produced 10,900 tons of molybdenum, accounting for approximately 4% of global output. The country ranks behind China, Chile, the United States, Peru, and Mexico in production volume. Armenia’s revealed comparative advantage (RCA) index for molybdenum (including ferromolybdenum), calculated using the Balassa method, stood at 171.
"Despite Armenia being one of the leading molybdenum producers globally, the most valuable product we can currently produce is ferromolybdenum," said Haykaz Fanyan, head of the consulting firm Modex, in an interview with BMG.
The export development strategy includes Armenia’s accession to the International Molybdenum Association (IMOA) and the goal of hosting one of its annual conferences in Armenia by 2030. According to Fanyan, this would help position the country as a key molybdenum producer and create opportunities for developing an industrial value-added supply chain.
Molybdenum is widely used in modern industries for alloy production, playing a crucial role in aerospace engineering, the chemical and pharmaceutical industries, and complex architectural structures. Its physical and chemical properties ensure durability and resistance to corrosion, making it a highly sought-after material.
