Economy Minister comments on challenges facing mining industry

Minister of Economy of Armenia, Gevorg Papoyan, presented the main challenges facing the mining industry in the country.

“Some deposits may no longer exist in 15–20 years. Therefore, it is necessary to carry out new explorations so that, if this sector is a priority for us, we can continue investing and ensure it remains one of the key branches of the economy,” Papoyan told reporters during the Mining Armenia Forum 2025.

The minister highlighted the importance of the mining industry meeting international environmental standards. 

“It is highly important that mining not only brings economic benefits but also minimizes environmental harm as much as possible,” Mr. Papoyan said.

Mr. Papoyan said his ministry focuses on extending the production value chain.

“Today, we mostly extract and export raw materials. Our goal is to move toward more complex and longer production chains by creating more sophisticated products. For example, processing copper ore into copper ingots, then into copper wire, and eventually into electrical equipment. This would significantly increase our Economic Complexity Index,” he highlighted.

The minister added that discussions are underway in this direction with the Zangezur Copper-Molybdenum Combine and the Amulsar mine.

“If we decide to take this path, it will be a major strategic decision that we must make together with the public. This decision would lead to more tax revenues, new jobs, and a more developed economy,” Papoyan said.