Armenia needs to fundamentally change its approach to developing the mining industry if it is to compete in international markets not only through its natural resources, but also through effective public administration, technology, skilled professionals, and responsible business practices. Armenian Deputy Prime Minister Mher Grigoryan made the statement at the Mining Armenia Forum 2026.

According to Grigoryan, the mining industry remains one of the most important sectors for attracting investment, advancing technology, and ensuring the country’s long-term economic competitiveness. At the same time, its role in the global economy is changing significantly, while demand for critical minerals continues to grow. Citing estimates from the International Energy Agency, Grigoryan noted that global copper demand is expected to increase by approximately 7 million tonnes by 2040.

Armenia has a long history of mining and possesses metals in demand on international markets, including copper and molybdenum, he stressed. However, the deputy prime minister said, the country’s task is not simply to increase production volumes. He emphasized that Armenia’s goal is to build a mining industry of an entirely new caliber.

According to Grigoryan, countries’ competitiveness today depends on more than the availability of natural resources. Regulatory predictability, a stable tax environment, effective public administration, infrastructure, and clear policies for investors are equally important. He noted that Armenia still has work to do in these areas, but also has genuine opportunities for development.

In his assessment, the peace agenda could significantly reshape Armenia’s economic geography. In a more open and interconnected region, the country could pursue a broader role in the mining industry. Grigoryan noted that Armenia could aspire not merely to remain a raw-material exporter, but to develop a broader mining and industrial ecosystem.

Grigoryan emphasized the importance of continuing to adopt international standards and strengthening confidence in the mining sector. Armenia needs to leverage its mineral resources in a way that ensures its competitiveness is determined not only by its mineral reserves, but also by the quality of governance, the expertise of its professionals, the technologies it employs, and a culture of responsible business, he said.

The deputy prime minister proposed making the central question of the forum’s two-day discussions what kind of mining industry Armenia, the region, and the world will need over the next 10–20 years.

The Mining Armenia Forum 2026 is co-organized by the Mining Forum Development Foundation and the Armenian Mining and Metallurgy Association. The forum, being held for the third time, is strategically sponsored by the Zangezur Copper Molybdenum Combine and Lydian Armenia, while Ameriabank and Teghut CJSC are its general sponsors.