ArmInfo.A meeting with industry experts, chaired by Deputy Minister Edgar Zakaryan, was held at the Ministry of Economy to discuss development opportunities for the country's metallurgy and mining industries.
According to the Ministry of Economy press service, the participants discussed expanding local processing of copper and molybdenum raw materials, strengthening production chains, opportunities to increase production and processing volumes, as well as implementing best international academic and practical approaches to develop a metallurgy industry with higher added value. Views were exchanged regarding existing industry challenges and possible solutions. The parties agreed to hold similar meetings regularly.
It should be noted that, according to the RA Statistics Committee, in 2025, the mining and open-pit mining industry reversed its 8.6% decline in 2024 to 6.4% growth in 2025, generating a volume of 514.7 billion drams.
In contrast, Armenia's metallurgical industry will slow in growth in 2025, from 1% to a stagnant 0.2%, maintaining the same average production volumes as in 2024. Specifically, 300.5 thousand tons of copper concentrate were produced in Armenia from January to December 2025, with the annual growth rate deteriorating from 4.1% growth to a 0.4% decline. Molybdenum concentrate production remained in decline, with annual growth rates decelerating from 26.9% to 13.6%, reaching 14,700 tonnes. Ferromolybdenum production also declined, decelerating from 42% to 33.6%, reaching 2,900 tonnes.
Zinc concentrate production maintained growth, but with annual growth rates decelerating from 28.7% to 10.5%, reaching 11,600 tonnes in 2025. Steel pipes, hollow sections, and fittings were produced at 28,500 tonnes in 2025, with annual growth decelerating from 16.8% to 15%. Aluminum foil production recovered from a 23.2% decline to a 4.6% increase, reaching 20,600 tons.
According to the State Revenue Committee of Armenia, as of 2024, 403 mining enterprises were registered in Armenia, 41 of which were inactive. There were 99 metallurgy enterprises, 12 of which were inactive. The sector's turnover in 2024 amounted to 520 billion drams, compared to 540 billion drams in 2022. A slight improvement in these indicators was seen in 2025, driven by rising metal prices and increased ore mining volumes.
From 2014 to 2024, investments in the sector amounted to 159.3 billion drams (approximately $600-700 million), accounting for 17.3% of total investment in the country's economy. By the end of 2024, the industry generated tax revenues of 130 billion drams, with 102 billion drams coming from the Zangezur Copper and Molybdenum Plant.
