No New Mineral Resources Discovered in Armenia in the Last 10 Years, Says ZCMC Director

By 2038, very few mining companies will remain in Armenia, while others will cease operations. This was stated today by Roman Khudolin, the General Director of the Zangezur Copper-Molybdenum Combine (ZCMC), during a mining industry forum.

“I am concerned about the mining resources of Armenia. No new reserves have been discovered in the country in the last 10 years. This is a very serious challenge,” he emphasized.

According to him, the mining companies operating in the country should work together with the Armenian government in this direction, and there should be mutual trust in this matter.

Khudolin also reported that they are currently conducting geological surveys independently, at least to the extent relevant to their upcoming plans and locations.

“I should also say that no company can carry out exploration work. That is why there needs to be a strong state strategy and policy in the country,” highlighted the ZCMC General Director.