ArmInfo. Global geological exploration spending peaked in 2012, after which the trend began to decline. Vardan Janyan, Chairman of the Mining and Metallurgy Association and First Deputy General Director of the Zangezur Copper-Molybdenum Combine (ZCMK), noted during the opening ceremony of the Mining Armenia Forum that if this situation continues despite the current growing demand, the international economy will face serious difficulties in securing critical metals.
he said.
Janyan cited Armenia's indicators as an example. Thus, in 2015, a 50% decline in exploration expenditures was recorded, while in Australia and Canada these expenditure items were growing. He cited exploration expenditures per square kilometer as one of the most important indicators. "Compared to virtually all countries, we are in last place. Despite such colossal potential, Armenia is doing nothing to understand its potential, confirm its reserves, and then move toward responsible exploitation," Janyan emphasized.
In his opinion, with competent collaboration with the public sector, it is possible to truly create a successful example of a mining industry with high standards, sustainable development, and occupational safety, and it can become an important component of economic development.
It is worth noting that the major international Mining Armenia Forum 2026 opened on October 16-17, bringing together representatives of dozens of mining and related companies from Armenia and abroad. This is the third year the forum is being held.
The forum will feature approximately 50 speakers, including representatives of international mining companies and financial institutions, investors, policymakers, sustainability experts, technology providers, as well as representatives of academia and civil society.
The Mining Armenia Forum is organized by the Mining Forum Development Fund and the Armenian Mining and Metallurgy Association. The forum's strategic sponsors are the country's largest mining players, the Zangezur Copper and Molybdenum Combine, and the gold mining company, Lydian Armenia. The forum's main sponsors are Ameriabank CJSC and Teghut CJSC.
