From Resources to Opportunities: Armenia's Mining Sector Looks to the Future

YERVANON, Armenia, Oct. 29, 2026 /PRNewswire/ -- More than 30 presentations, panel discussions and roundtables explored the future of responsible mining, investment and technology at the third annual Mining Armenia Forum 2026, held in Tsaghkadzor, Armenia. The event brought together around 50 speakers from Armenia and 14 other countries, including representatives of international mining companies and financial institutions, investors, policymakers, sustainability experts, technology providers, academics and civil society. The event was attended by Armenian Prime Minister Nikol Pashinyan, Deputy Prime Minister Mher Grigoryan, and other government officials.

The Forum also brought together a distinguished international lineup of speakers, including Mark Cutifani, as a keynote speaker.

Mining Armenia Forum partnered with Resourcing Tomorrow in forming a keynote panel on investment trends and with Wood Mackenzie that presented a survey on Armenian mining sector's investment attractiveness.

Armenian Prime Minister Nikol Pashinyan described the forum as an effective platform for transparent dialogue, emphasizing the importance of openly addressing the sector's challenges and identifying opportunities for development. 

Building public trust and strengthening cooperation between the state, industry and society remain essential to the future of mining. Mineral resources belong to the people and the state of Armenia, while mining companies act as operators, Prime Minister Nikol Pashinyan emphasized at the forum. "We have also observed that the more the public sees the sector as its own, the more positively it perceives it", Nikol Pashinyan said. 

The Prime Minister also highlighted the economic opportunities offered by mining and the growing need for new geological exploration. 

The global energy transition is creating new opportunities for resource-rich countries, but realizing them requires a forward-looking approach. Mark Cutifani, an internationally recognized mining expert and keynote speaker at Mining Armenia Forum 2026, highlighted the role of metals, technological advances and artificial intelligence in shaping the future of the sector. He argued that countries with significant mineral resources could achieve substantial development over the next 50–100 years.

"Armenia has already made good progress in its mining sector. The next stage is about building on that foundation through stronger engagement with local communities, constructive cooperation with government, and a clear, consistent regulatory framework. If industry, government, and society can align their interests, Armenia will be better positioned to unlock its mining potential and attract long-term investment." 

Demand for critical minerals is expected to continue rising, placing countries such as Armenia in a position to capitalize on their resource base. According to the International Energy Agency, global copper demand alone is projected to increase by approximately 7 million tonnes by 2040. 

"Armenia has a long history of mining and produces metals in demand on international markets, including copper and molybdenum. Our goal is not simply to have more mining. Our goal is to develop a qualitatively new mining industry," the Deputy Prime Minister Mher Grigoryan said. 

Long-term investment depends on clear, predictable rules and confidence in the stability of the business environment. Roman Khudoliy, CEO of the Zangezur Copper Molybdenum Combine (ZCMC), stressed the need to rethink the relationship between the state and subsoil users and establish transparent, consistent conditions for investment. "Investment recovery in the mining sector can take 10–15 years or longer, so investors need predictable conditions and confidence that their rights will be protected," Khudoli added.

According to Vardan Jhanian, President of the Mining and Metallurgy Association of Armenia and First Deputy CEO of ZCMC, Armenia's mining exports could reach approximately $3 billion in 2027, supported by the development of the Amulsar mine and rising copper and molybdenum prices. "We need a developed and growing mining industry, but it must also meet the expectations of the majority of our population by minimizing its impact on nature and surrounding communities. This is possible if we adopt the best standards for sustainable development," Jhanian said. 

Unlocking Armenia's mining potential will require sustained investment, modern technologies and international best practices. Hayk Aloyan, Founder, Chairman of the Board and CEO of Lydian Armenia, said that the sector's future must be built on competitiveness, innovation, environmental responsibility and sustainable development. 

The importance of responsible resource management is particularly relevant as Armenia hosts the COP17 summit on biodiversity. The topic of biodiversity management was a prevalent theme across the discussions on sustainability. 

Held under the theme "From Resources to Opportunities," Mining Armenia Forum 2026 was organized by the Mining Forum Development Foundation and the Mining and Metallurgy Association of Armenia. The strategic sponsors of the forum are the companies "Zangezur Copper and Molybdenum Combine" and "Lydian Armenia", and the main sponsors are Ameriabank and "Teghut" CJSC.Over the past three years, Mining Armenia Forum has brought together more than 500 participants and over 40 international speakers from more than 20 countries.

SOURCE Mining Armenia Forum