The Statistical Committee of Armenia has released data on production in the metallurgical industry for the first six months of 2024, revealing a mixed picture of the sector's development.
The production of copper concentrate, a key product of Armenia's mining industry, showed significant growth. From January to June 2024, 144.6 thousand tons of copper concentrate were produced, a 15% increase compared to the same period last year.
Even more impressive was the growth in zinc concentrate production, which increased by 20.8%, reaching 5.3 thousand tons.
However, not all segments of the industry demonstrated positive dynamics. Molybdenum concentrate production decreased by 25.2%, amounting to 7.9 thousand tons. An even more substantial decline was observed in the production of ferromolybdenum, which fell by 49.2%, down to 2.2 thousand tons.
In the steel pipe production sector, there was a significant increase of 26%, reaching 10.9 thousand tons. At the same time, aluminum foil production declined by 28.1%, totaling 9.8 thousand tons.
The BMG reminds that the mining sector plays a crucial role in Armenia's economy, as evidenced by its substantial contribution to the country's export structure and tax revenues. This is demonstrated by the latest data published by the Armenian State Revenue Committee.
As of the first half of 2024, the Zangezur Copper-Molybdenum Combine (ZCMC) held the leading position among the top 1,000 taxpayers in the country. The company paid 64 billion drams in taxes to the state budget, equivalent to more than 164 million USD. In the first half of 2024, the plant increased its tax payments by 84% compared to the first half of 2023.
