Armenia's Mining Sector: Economic Role and International Engagements
Armenia's mining sector generated over $900 million in metal ore exports, making up 31% of the country's total exports in 2021. A five-year assessment of rare metal reserves is in progress, with completion expected in 2027, highlighting potential for future investments and technological advancements.
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In 2021, Armenia's mining sector exported metal ores valued at more than $900 million, representing 31% of total exports. The primary minerals extracted include copper, molybdenum, and precious metals, with major operations located in Syunik, particularly Kajaran, Teghut, and Agarak.
A five-year evaluation of rare metal reserves is in progress, anticipated to conclude in 2027, and aims to identify economically viable extraction methods. The U.S. has expressed interest in the sector through diplomatic efforts to enhance critical mineral markets, potentially leading to technological improvements and increased investment from U.S. and EU stakeholders, which could stimulate economic growth.
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