Mining Industry

The mining industry is the main sector of Armenia's economy and occupies the largest share in Armenia's export structure. 32% of the country's merchandise exports are mineral products. The mining industry accounts for 25% of the country's industrial production and 5.5% of GDP. According to the Armenian Development Agency, Armenia has more than 670 deposits of construction and non-metallic minerals, including 30 deposits of non-ferrous and precious metals. About 400 of these deposits are currently in operation, including 22 base and precious metal mines. Challenges associated with the sector include short (undeveloped) value chains for major products, high levels of environmental pollution, and problems with the regulatory environment of the sector.