Armenia’s mining industry is concentrated around the extraction of metals such as iron, copper, molybdenum, lead, zinc, gold, silver, antimony, and aluminium. In 2022, 10% of state budget revenues were provided by the mining industry. According to the Union of Miners and Metallurgists of Armenia, the main product in the country is copper concentrate, which also contains gold and ferromolybdenum. China has always been the main market for copper concentrate, and the European market for ferromolybdenum, a small part was exported to Russia.

Armenia is likely to continue developing facilities for processing copper, gold, and molybdenum. However, a significant portion of Armenian society voices concerns about the potential effects of mining projects, and companies’ environmental practices are coming under increased scrutiny. This is due in large part to the historical mismanagement of the sector and the use of outdated practices and technologies.