Mineral industry of Armenia

The Zangezur copper-molybdenum complex possesses large molybdenum reserves that are concentrated in the Kajaran deposit.

[3] Ownership: In 2017, mining industry output grew by 14.2% to 172 billion AMD at current prices and contribute to 3.1% of Armenia's GDP.

Mineral production has been increasing (except for in the diamond-cutting industry) and the country is making a particular effort to attract investment in its mining sector.

Molybdenum output is expected to increase as a result of a successful privatization program that involved a $200 million investment that has enabled the Zangezur copper-molybdenum complex to begin reequipping its mining and processing operations in 2005.

The goal is to increase the ore-processing capacity at the Kadzharan deposit by 50% to between 12.5 and 13 million metric tons per year (Mt/yr) of ore by 2008.

[23] In 2017, Transparency International included the case of Armenia in its research on corruption in mining industry in several countries.

[24] While some mines or their operating licenses are directly owned by Armenian ministers of parliament through a series of holding companies, others are sold to foreign entities by the same or other MPs.

Furthermore, the country's rural fields are being irrigated with water flowing from contaminated sources due to mining operations.

Also, according to the study, all types of farm produce from the towns of Kapan, Kajaran, Alaverdi, and Akhtala (all of which have significant mining operations) are laden with heavy metals, including mercury arsenic and cadmium.

Armenia's largest mine, the Kajaran copper-molybdenum open-pit mine in southern Armenia is operated by the Zangezur Copper and Molybdenum Combine , and until 2018, was 75% owned by the German CRONIMET company
The Teghut Mine (opened in December 2014) contains a copper and molybdenum deposit valued at over US$15 billion and has destroyed over 350 acres of Armenia's little-remaining forested land. The operator of the mine, Vallex Group, will pay only about 10% of revenues in taxes.
The open-pit Agarak copper mine in the town of Agarak in the southern Syunik province
The copper smelter at Alaverdi in Armenia's northern Lori province
A general view of the massive toxic tailing dump of the Ararat gold processing facility in the town of Ararat where gold from the Sotq mine is extracted
Ararat tailing dump with the town of Ararat in the background
Destruction of the old-growth forest to make way for the open-pit copper and molybdenum mine at Teghut