ArmInfo. Based on the results of the seventh month, the revenue of Armenian mining companies amounted to 470 billion drams, which is 62% higher than last year. This was stated by Suren Parsyan, associate professor at the Armenian State University of Economics, PhD in economics, and lawyer, while presenting his research at the international Mining Armenia Forum.
By the end of the year, according to him, revenue will reach a record 800 billion drams, which will be influenced, among other things, by the dollar exchange rate.
At the same time, the economist, citing the study, predicted an increase in the mining industry's share of exports, given Armenia's existing problems with exports (Russian restrictions on the import of goods from Armenia to the markets of the Eurasian Economic Union - ed.). He noted that the mining sector currently accounts for 1/3 of Armenia's exports. In his medium-term forecasts, Parsyan took into account the launch of the Amulsar deposit (October 10th of this year) and the increase in production volumes at the Zangezur Copper and Molybdenum Combine (ZCMK) from 22 million tons of ore to 40 million.
According to him, this sector is also important for the state budget. Specifically, in 2026, the mining sector contributed 90 billion drams in taxes to the state treasury, a 51.2% increase over the 2025 figure.
Among the important indicators, Parsyan also cited productivity, which in the mining sector exceeded that of the IT sector, amounting to 50 million drams per employee.
Furthermore, the study also examined the industry's impact on poverty in the country. According to him, in the regions of Armenia where mining is practiced, the poverty rate is 2-3 times lower than in other areas of the country. "This demonstrates that the sector is addressing issues of both social and national significance," he emphasized.
Parsyan cited metal price risks, changing demand, environmental issues, and other key challenges for the industry.
It should be noted that, according to the RA Statistics Committee, the mining sector grew by 24.3% year-on-year from January to August (versus a 0.8% decline a year ago), reaching 489.7 billion drams. In August alone, mining sector output increased by 6.3% to 67.6 billion drams.
