Despite a strong rise in the export of precious metal ores and concentrates in 2025 - up by 59.5% to $378.9 million, making up 11.3% of Georgia’s domestic exports - the Ferrous Alloys Association says the industry remains in crisis.
Association head Nugzar Kevlishvili told BM.GE that the sector has been struggling for nearly four years, and 2025 cannot be assessed positively. He notes that there is still no sign the downturn will end soon.
Kevlishvili does not expect significant improvement in 2026. The only potential relief, he says, could come from cheaper electricity in spring–summer, which may allow smaller plants to resume operations after long pauses.
As for pricing, the market currently mirrors last year’s levels. Kevlishvili believes that an improvement in global geopolitics - particularly an end to the war in Ukraine and a peace agreement - would sharply boost prices for metals and ferroalloys, giving Georgian producers a chance to return to the market with renewed strength.
