Category: News

Armenian Prime Minister Nikol Pashinyan has dismissed Gagik Vanoyan as head of the State Protocol Service.

The dismissal order was published on the government’s e-gov.am website on Monday.

The reason for his dismissal was not immediately clear.

Vanoyan had served as head of the State Protocol Service since December 2022.

YEREVAN, 19 OCTOBER, ARMENPRESS. The Central Bank of Armenia informs “Armenpress” that today, 19 October, USD exchange rate down by 0.98 drams to 361.36 drams. EUR exchange rate down by 2.51 drams to 405.41 drams. Russian Ruble exchange rate up by 0.0385 drams to 4.3731 drams. GBP exchange rate down by 1.38 drams to 481.87 drams.

The Central Bank has set the following prices for precious metals.

Gold price up by 298 drams to 48670 drams. Silver price up by 9.72 drams to 670.42 drams.

Armenia’s mining industry is preparing to reach a new stage of development and export a record US$3 billion worth of minerals in 2027. Ahead of this, representatives of the professional community, state bodies, financial institutions, academia, civil society and other sectors gathered in Tsaghkadzor for the third consecutive annual Mining Armenia Forum, held this year under the theme “From Resources to Opportunities”.

More than 50 leading specialists from Armenia and 14 other countries took part in a wide-ranging programme of presentations and discussions. Under the overarching theme, topics included global transformation, investment and responsible growth; pathways for developing mining in Armenia; financing operations; expanding various forms of cooperation; risks in emerging markets; changes in global mineral supply chains; investment attractiveness; regulatory predictability; environmental protection and public expectations; legal frameworks governing the sector; waste management; cooperation with communities and scientists; and even the introduction of artificial intelligence and digital technologies.

The forum announced the signing of a memorandum of understanding between Armenia’s Ministry of Territorial Administration and Infrastructure and the Union of Miners and Metallurgists of Armenia on cooperation to establish a mining and metallurgy analytical centre. The centre will serve as a joint platform for research, policy analysis and dialogue between the public and private sectors, supporting informed decision-making and the sector’s sustainable development.

Addressing the event, Prime Minister Nikol Pashinyan highlighted the significance of this year’s forum taking place alongside COP17.

“This is another good opportunity to draw our attention to an important issue: bringing Armenia’s mining industry into line with the highest possible standards. Clearly, environmental standards are becoming an increasingly pressing issue in Armenia and everywhere else. I cannot say that we have taken no steps in this direction, but neither can we speak of considering this problem resolved in the foreseeable future. We can clearly state that the sector offers major opportunities but also faces challenges,” he said.

Highlighting mining’s role in Armenia’s economy, Pashinyan stressed the need for an institutional approach to the sector. He also said the Government would like to extend mining production chains in Armenia as far as possible and manufacture high-value products.

“As you know, the Armenian Government holds stakes in several mining companies, but that is not the approach we envisage. Essentially, we have taken individual steps in response to particular circumstances, whereas an institutional approach is very important here. In my view, that means opening up share ownership in the sector. I mean listing companies on stock exchanges. The next issue I consider very important for Armenia’s mining industry—although this is more of an aspiration, as more detailed expert assessments are needed—is that we would like mining production chains in Armenia to be extended as far as possible,” the Prime Minister said.

Other practical steps are also important for the sector’s development. Minister of Territorial Administration and Infrastructure Davit Khudatyan highlighted several of them.

“The steps we have already begun taking to develop the sector will enable us to move forward. We have already started making extensive use of digital tools. In particular, all permits for subsoil use will soon be issued through a unified system using digital processes. Secondly, work to establish a geological service is under way, and by the end of 2027 we will have a service that will enable us to manage and understand the sector’s challenges from a single point,” the minister said.

Speaking to journalists, Vardan Jhanyan, President of the Armenian Mining and Metallurgy Association, highlighted the sector’s significant contribution to the economy while stressing the importance of meeting the highest environmental standards.

“According to our forecasts, the value of the sector’s exports is expected to reach around US$3 billion next year. By comparison, Armenia’s total exports in 2021 amounted to approximately US$2.8 billion. We expect our sector alone to exceed that figure next year. This is due to the operation of the Amulsar mine and rising prices for critical metals such as copper and molybdenum,” he said.

Responding to a question from Armenpress, Jhanyan said building a copper smelter in Armenia was a recurring topic of discussion but was currently not economically viable.

“We have reviewed several studies indicating that the volume of copper mined is still insufficient for a competitive smelter. Armenia would need to produce at least 100,000–150,000 tonnes of copper annually for a smelter to operate competitively,” Jhanyan said.

International experts also see considerable potential for mining development in Armenia.

“People see potential in Armenia. That is good news. Its geological potential is considered a positive factor. It is also good that Armenia is open to new investment and opportunities. The country also has mining traditions and access to personnel, knowledge and skills. One weakness is data quality, because without that, it is very difficult for investors to assess the expected return on investment. There are also issues with the legal framework. As for downstream processing, we have differing views,” said Wael Jaber, Vice President of Mining and Metals Consulting at Wood Mackenzie.

Meanwhile, Suren Parsyan, an associate professor at the Armenian State University of Economics, a Candidate of Economic Sciences and a lawyer, estimated that Armenia’s mining companies generated around AMD470 billion in revenue in the first seven months of this year, an increase of 62 per cent on the previous year.

“Mining accounts for approximately one-third of Armenia’s total exports, with the share already standing at 29.1 per cent in 2026. It will continue to grow, given the problems we face in exporting several other product categories. Around AMD90 billion in taxes has been collected this year, 51.2 per cent more than last year. We forecast record turnover, or revenue, of around AMD800 billion this year. This will undoubtedly also be affected by the dollar exchange rate, which has had a significant impact in recent months.

“We expect approximately 14,500 jobs in the sector this year, with indirect employment around four to five times higher. It is important to note that the sector’s productivity has become the highest in Armenia, even exceeding that of IT. Productivity stands at approximately AMD50 million per employee. Taxes paid by the mining industry this year will account for approximately 5.5–6 per cent of the state budget’s total tax revenue. Mining output is forecast to increase by around AMD1.7 billion this year,” Parsyan said.

Mining industry representatives hope to return to the next forum, scheduled for a year’s time, with changes made, problems resolved and, of course, new achievements and positive results.

Prime Minister Nikol Pashinyan chaired a meeting to discuss issues relating to the management of state assets.

The Prime Minister’s Office said David Tavadyan, Chairman of the State Property Management Committee, presented the types of state assets and statistical data.

The meeting highlighted the need for transparency and accountability in state asset management. In this context, participants emphasised the establishment of a single centre of authority, proposing that asset management be centralised.

Summing up, the Prime Minister instructed officials to continue work in this direction, taking into account the proposals presented during the discussion. The need to conduct an inventory of state assets was also stressed.

A leading Armenian meteorologist has highlighted the link between biodiversity conservation and climate change mitigation, saying that efforts to protect forests and prevent the destruction of plant and animal life can also help address climate-related challenges.

Gagik Surenyan, Deputy Director of Armenia’s Hydrometeorology and Monitoring Center, told Armenpress that the 17th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP17), underway in Yerevan, is important for Armenia because decisions and programs adopted at the conference could contribute to protecting both plant and animal species.

“Representatives of those working to protect plant and animal life have gathered here, and a number of important decisions will be adopted as a result. This is important for Armenia, as programs will be adopted and implemented that will greatly benefit both animal and plant life,” Surenyan said.

He added that preserving natural ecosystems plays an important role in addressing climate-related challenges. While the effects of climate change are not always sharply felt in Armenia, preventing deforestation and protecting the natural environment can have a positive impact, he said.

“The conference can help promote the prevention of deforestation and the destruction of plant and animal life. That also has a positive impact on climate change. We know that climate change is caused not only by greenhouse gas emissions but also by deforestation. If we firmly protect our forests and expand their area, we can have a significant impact on mitigating climate change,” Surenyan said.

A delegation led by Beijing Vice Mayor Wen Xian has arrived in Yerevan within the framework of COP17, Yerevan City Hall announced.

Sirarpi Haykazyan, acting head of the Environmental Protection Department of Yerevan City Hall, and the Chinese delegation visited Yerevan Lake.

The Chinese delegation was briefed on the lake’s water quality, the reservoir’s seismic resilience, and sediment removal. Officials also presented plans to improve the lake and its surrounding area to make them cleaner, better maintained, and more attractive.

The sides discussed Beijing’s experience in cleaning rivers and other water bodies and the possibility of applying that experience in Yerevan.

COP17 President Hambardzum Matevosyan, Armenia’s Minister of Environment, attended the opening ceremony of China’s pavilion in the COP17 Blue Zone and delivered a speech.

Armenia’s Ministry of Environment said in a statement that Matevosyan highly praised China’s leading role in the adoption of the Kunming-Montreal Global Biodiversity Framework, emphasizing the need to translate joint commitments into national policies and action.

Matevosyan highlighted the importance of the pavilion as a platform for exchanging experience in biodiversity conservation and establishing new partnerships.

“Our journey from Kunming to Yerevan is a path from commitment to action. May this pavilion become a place where we continue this journey together,” the minister said.

The 17th meeting of the Conference of the Parties (COP17) to the Convention on Biological Diversity (CBD) is being held in conjunction with the 12th meeting of the Parties to the Cartagena Protocol on Biosafety (CP-MOP-12) and the sixth meeting of the Parties to the Nagoya Protocol on Access and Benefit-sharing (NP-MOP-6). COP17 marks the first global review of collective progress toward implementing the Kunming-Montreal Global Biodiversity Framework (KMGBF).

Hosting major international events boosts Armenia’s international standing, attracts tourists and brings new investment to the country, Prime Minister Nikol Pashinyan said on Monday, a day after the opening of COP17 in Yerevan.

In a video posted on Facebook, Pashinyan said Armenia is positioning itself as a country capable of organizing major international events to a high standard.

“Based on the results of the first days of COP17, and looking back at the European Political Community Summit held in Yerevan in May this year, we can conclude that Armenia is positioning itself as a country capable of organizing high-level international events to a high standard. This is an undeniable and extremely important contribution to the international standing of the Republic of Armenia and a very significant achievement. I believe we should continue this approach, and Armenia should host more events of this kind, because they increase the visibility and international standing of the Republic of Armenia, bring new tourist flows to Armenia, and, in essence, the money spent on organizing these events returns to the Republic of Armenia and is distributed among its citizens, depending on their level of activity and the nature of their work. Ultimately, these events raise Armenia’s visibility and attract new investment to the Republic of Armenia, with all the positive results that entails,” Pashinyan said.

The work of the 17th meeting of the Conference of the Parties (COP17) to the UN Convention on Biological Diversity officially began in Yerevan.

Armenia’s Minister of Environment, Hambardzum Matevosyan, was elected COP17 President for a two-year term at the conference’s opening plenary session, assuming responsibility for leading the international community’s collective efforts.

“I thank the Parties to the Convention for their trust in Armenia and in me. I assume this responsibility with a commitment to serve all Parties impartially, ensure that everyone’s voice is heard, and turn our collective efforts into tangible results,” Matevosyan said in a social media post.

“In my opening remarks, I emphasized that we have a unique opportunity in Yerevan to assess the progress made in biodiversity conservation and agree on concrete next steps. To achieve the targets set for 2030, we need to accelerate our work, turning our commitments into real change. Armenia’s presidency will be guided by the principles of open dialogue, inclusiveness and mutual respect. Our task is to bridge differences, build consensus and ensure everyone’s participation, from governments to young people and from the scientific community to the private sector. May Yerevan become a milestone where shared commitments are transformed into joint action for nature and for present and future generations,” he added.

Minister of Economy Gevorg Papoyan believes that hosting COP17 in Armenia will help improve the country’s investment climate.

“These days, Armenia is in the spotlight of everyone interested in environmental protection. It is expected that up to 15,000 people will visit Armenia during COP17. In addition to raising the country’s profile, hosting the conference will also improve the investment climate. Holding COP17 will help attract more investment to Armenia,” Papoyan told reporters.

The 17th meeting of the Conference of the Parties (COP17) to the Convention on Biological Diversity (CBD) is being held in conjunction with the 12th meeting of the Parties to the Cartagena Protocol on Biosafety (CP-MOP-12) and the sixth meeting of the Parties to the Nagoya Protocol on Access and Benefit-sharing (NP-MOP-6). COP17 marks the first global review of collective progress toward implementing the Kunming-Montreal Global Biodiversity Framework (KMGBF).