EcoLur
The Economy Ministry of Armenia once again announced that the mining is a priority in economy. The report of the Ministry says that the priority sector made up 2.8% of GDP in the second quarter of 2014. In the same time period 143,500 tons of copper concentrate, 10,400 tons of zinc concentrate, 4,800 tons of ferromolybdenum and 12,900 tons of copper concentrate were produced.
The report on gold mining is laid down not in volumes but in drams: it says that in the second quarter 25.7 million AMD of gold alloys were produced. The total price of the produced metals was also laid down – 134.7 million AMD.
The ministry also reported the worldwide prices of copper and molybdenum, which says in 2014 the copper price comprised US$ 6914 and molybdenum price US$ 26750 (the report doesn’t say anything about other metals).
By comparing the volume of the produced products with the global prices we can realize how much the state loses in mining because of the policy run by the government and particularly the Ministry of Economy. The question where such huge incomes of Armenia disappear, which would develop the whole country and not only the miners is left open.
November 26, 2014 at 13:19