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Armenian Deputy Prime Minister Mher Grigoryan said the role of mining in the global economy was changing significantly and demand for copper alone would increase by around 7 million tonnes by 2040.
Grigoryan made the remarks at Mining Armenia Forum 2026 in Tsaghkadzor on 16 October.
He said Armenia’s task was to develop a qualitatively different mining industry rather than simply extract more ore.
He also stressed that countries’ competitiveness today was determined by natural resources alongside predictable regulation, a stable tax environment, effective public administration, infrastructure and policies that investors could understand.
Grigoryan said it was important to continue introducing international standards and strengthening confidence in the sector. To achieve this, Armenia’s mineral potential should be used in a way that made the country competitive in its resources, the quality of its governance and specialists, its technologies and its responsible business culture.
Mining Armenia Forum, being held for the third time, brings the mining industry and related sectors together under one roof. More than 350 delegates from 15 countries are taking part.