Armenia's Minister of Territorial Administration and Infrastructure, Gnel Sanosyan, highlighted the significant potential of the country's mining sector and its role in driving economic growth.
This statement was made during his speech at the "Mining Armenia" international conference held on September 28, which focused on issues related to the mining industry.
According to the Ministry's press service, Sanosyan emphasized the mining sector's pivotal role in Armenia's national economy, recognizing it as one of the key industries and major export contributors.
He pointed to the substantial development opportunities within the sector, underscoring its ability to stimulate economic growth. The conference, he noted, provides an excellent platform to discuss the challenges, growth prospects, and opportunities of Armenia's mining sector, as well as to shape a sustainable and innovative vision for its future.
The minister stressed that Armenia has adopted a policy of sustainable development aimed at ensuring balanced economic growth.
During the conference, topics such as sustainable mining practices, environmental risks, international best practices in managing these risks, technological advancements, and the future of the mining industry were discussed, alongside strategies for developing Armenia's mining sector.
Additionally, the "Mining Armenia" forum saw the signing of a trilateral memorandum between the Ministry of Territorial Administration and Infrastructure, the Zangezur Copper-Molybdenum Combine CJSC, and Yerevan State University.
The agreement commits the parties to collaborate on scientific research and implement joint programs in geology, mining, mineral resource exploitation, metallurgical engineering, hydrogeology, and related fields.
BMG reports that Armenia's mining industry has faced challenges in recent years. In 2023, the sector's decline accelerated to 6.4%, compared to a 3.2% drop in 2022, with a total output of 463.2 billion drams (around $1.2 billion). In December 2023, the mining sector's output was 35 billion drams (over $92 million), marking a 7.9% increase compared to the previous month.
