Exploring Armenia's Mining Future: Opportunities and Innovations Ahead

The third annual Mining Armenia Forum 2026, held in Tsaghkadzor, Armenia, was a significant event that brought together stakeholders from around the globe to discuss the future of the mining sector. More than 30 presentations, panel discussions, and roundtables were dedicated to exploring the themes of responsible mining, investment opportunities, and technological advances in the industry. This year, the forum attracted around 50 speakers, including representatives from international mining companies, financial institutions, policymakers, sustainability experts, technology providers, academics, and civil society, providing a rich dialogue about the challenges and opportunities in mining today.

Among attendees were Armenia’s own Prime Minister Nikol Pashinyan and Deputy Prime Minister Mher Grigoryan, who emphasized the importance of transparent communication regarding the challenges the sector faces and the pathways for future development. Prime Minister Pashinyan noted that it is paramount for mining companies to maintain a sense of community ownership over mineral resources, highlighting that these resources belong to the Armenian people and the state. He stated, "The more the public perceives the sector as its own, the more positively it views its prospects," showcasing the growing relationship between the community and the mining industry.

The discussions at the forum included insights from renowned experts such as Mark Cutifani, who presented significant investment trends and the role of technological advances shaping the industry's future. Cutifani noted the critical importance of metals and how technological advancements, including artificial intelligence, could lead to substantial development opportunities for countries with rich mineral resources, like Armenia. He stressed that to fully capitalize on these opportunities, a strong alliance between the industry, government, and local communities is essential.

Mher Grigoryan, during his address, outlined Armenia's long-standing mining history. He expressed a vision for the future of the mining industry that goes beyond mere expansion, aiming for the establishment of an industry rooted in sustainable practices. He described the government's commitment to rigorous regulatory frameworks to build public trust and foster a conducive environment for long-term investment. According to Grigoryan, the mining exports from Armenia could potentially reach $3 billion by 2027, driven by rising prices of copper and molybdenum and the commencement of the development of the Amulsar mine.

Investment in mining requires a stable and predictable environment, where investors feel their rights will be protected, and their investments can flourish. Roman Khudoliy, CEO of the Zangezur Copper Molybdenum Combine, emphasized the necessity of re-evaluating state relationships with subsoil users to foster transparency and assurance in investment conditions. He pointed out that recovery on investment in mining often represents a long-term commitment, lasting 10 to 15 years, thus necessitating consistent and favorable conditions for potential investors.

Further, Vardan Jhanian, President of the Mining and Metallurgy Association of Armenia, reiterated the dual aim of advancing the mining sector while also minimizing environmental impacts and addressing community expectations. He believes that achieving a modernized mining industry is attainable by adopting global standards for sustainable development.

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