The countries of South Caucasus region – the region, which consists of the former Soviet states of Armenia, Georgia and Azerbaijan- plan to significantly accelerate their activities in the field of mining and metals with the aim to increase domestic output and to even to begin
In case of Armenia, it is planned implementation of these plans will be part of the existing state strategy, which is known as «For the Development of the Mining Industry".
The new strategy should ensure a long-term development of the Armenian mining and metals sectors, the efficient use of natural resources, as well as the efficient management and reduction of environmental and social risks.
Thanks to the new strategy, the Armenian government plans to speed the development of the local mining and metals base. According to some official data, it currently consists of more than 670 deposits of solid minerals with proven reserves, including 30 metal ones. According to the Armenian State balance of mineral reserves, of these deposits, about 400 are being developed, including 22 metal ones.
The Armenian minerals’ sector consists of various metals with the biggest reserves of iron, copper, molybdenum, lead, zinc, gold, silver, antimony, aluminum, as well as some rare metals
Currently, concentrates (primarily of such metals as copper, molybdenum, zinc, and in the near future also lead concentrate), remain major products of the Armenian mining and metallurgical complex, which, however, does not allow to fully use the economic potential of these deposits. In accordance with the new state strategy the organization of production and processing of various minerals on the full-cycle basis from extraction to the creation of finished products, according to some local analysts, will provide an opportunity to obtain high-value products.