Gold extraction has resumed at the Sotk mine, which holds the largest gold reserves in Armenia, according to Deputy Minister of Infrastructure Hovhannes Arutyunyan.
According to the official, the mine is currently operating at a capacity equivalent to 100,000–150,000 tons of ore per year. It is expected that the mine will reach its full design capacity of 400,000 tons annually in the second half of 2025. Work is still ongoing to establish the necessary infrastructure.
Arutyunyan noted that until May 2023, mining at the deposit was carried out through open-pit methods, but operations were suspended. The primary reason for the halt was the depletion of easily accessible ore located near the surface. Now, underground mining methods are being used, allowing for the efficient extraction of deeper ore reserves.
The deputy minister also addressed employment issues. Currently, just over 200 people are employed at the mine. Once full capacity is reached, the number of jobs is expected to increase to over 500.
BMG reports that in recent years, Armenia's mining industry has faced challenges. In 2023, the decline in the sector accelerated to 6.4%, compared to 3.2% in 2022, with a total production value of 463.2 billion drams (approximately $1.2 billion).
In December 2023, the mining sector's production volume reached 35 billion drams (over $92 million), which is a 7.9% increase compared to the previous month.
