In 2024, Armenia was the sixth-ranked producer of molybdenum and accounted for 3.2% of global production. The country also ranked 10th in the production of perlite (tied with Mexico), accounting for 0.6% of global production, and ranked 8th in the production of rhenium, accounting for 0.3% of global production. Other mineral commodities produced in the country included aluminum and aluminum products, bentonite, cement, mined copper, ferromolybdenum, mined gold, gypsum, lime, salt, mined silver, steel products, tuff, and mined zinc. The value added by the mining and quarrying sector contributed 3.0% to the country’s gross domestic product. In 2024, Armenia exported 341,500 metric tons (t) of copper ore and concentrates valued at \$558 million and 11.4 t of molybdenum concentrates valued at \$221 million. Copper ore and concentrates were primarily exported to China (76.6%) and Bulgaria (13.3%), and molybdenum concentrates were mostly exported to Belgium (41.6%), China (25.6%), Russia (13.2%), the Republic of Korea (6.3%), and Thailand (5.3%).
Armenia’s mining sector was governed by the Subsoil Code (Law No. HO-280-N), which went into effect in 2012 and stipulates that any parts of subsoil may not be subject to sale or other forms of alienation. The Code describes the rights of subsoil users and the responsibilities and obligations of the engaged parties and government authorities, and other issues related to the mining sector operations. The Ministry of Territorial Administration and Infrastructure is responsible for issuing both exploration and mining licenses. The mineral industry was dominated by privately owned companies; few exceptions included the Zangezur copper-molybdenum complex (ZCMC) and the Amulsar gold mine, which was in preparation to begin production, that were partially owned by the Government. Armenia had three enterprises engaged in mining molybdenum—Agarak copper-molybdenum mining and processing complex (ACMC), Teghout copper-molybdenum complex (operated by ZAO Teghout, and owned by VTB Bank and private investors), and ZCMC. ACMC and ZCMC also produced rhenium as a byproduct of copper production. OAO Aragats-Perlite Co., which is located in the Aragantsotn Region and mined the Aragats perlite deposit, was the leading producer of perlite in the country.
