Armenian deposits of minerals cost more than 4 trillion dollars: geologist

YEREVAN, AUGUST 9, ARMENPRESS։ In the Armenia’s deposits the value of the minerals makes more than $4 trillion, which is quite a considerable figure for a small country like Armenia. This was stated by the chief specialist of the Institute of Economics of the National Academy of Sciences of the Republic of Armenia, Doctor of Geological Sciences Hrachya Avagyan.

“Our country is very rich, especially in copper and molybdenum minerals, scandium, one ton of which costs more than $5 million. Vanadium, lead, zinc, pyrite have also been discovered”, - said Hrachya Avagyan.

According to the geologist, iron mines are quite appreciable in our country, which have not been yet used. “We have six iron stone deposits, four of which have already been studied and their value makes more than $2,5 trillion”, - said the chief specialist of the Institute of Economics of the National Academy of Sciences of the Republic of Armenia, Doctor of Geological Sciences Hrachya Avagyan. He added that the Republic of Armenia has also significant volumes of gold polymetallic fossils, which are evaluated of more than $74 billion.

There are 565 deposits of about 60 minerals in the Republic of Armenia.