YEREVAN — Armenia’s mineral deposits are estimated more than $4 trillion, which is quite a considerable figure for a small country like Armenia. Hrachia Avakian, a leading specialist from the Institute of Economics of the National Academy of Sciences, said to a news conference on Friday.

According to him, Armenia is one of the richest nations in terms of metal ore deposits. He said there are seven proven copper-molybdenum deposits, the Kajaran deposit in the southern province of Syunik being one of the largest in the world. He said copper and molybdenum deposits contain 6.2 billion tons of metals, estimated to cost about $1.040 billion

Armenia has also five explored deposits of copper-pyrite ores in Kapan, Alaverdi, Shamlugh, Lichk and Ankadzor, which contain over 935,600 tons of copper worth $11.42 billion.

“Our country is very rich, especially in copper and molybdenum minerals, scandium, one ton of which costs more than $5 million. Vanadium, lead, zinc, pyrite have also been discovered”, – Avakian stated.

mineralreservesmapAs for iron ore, he said they are quite substantial in Armenia, which have not been yet used. “We have six iron stone deposits, four of which have already been studied and their value makes more than $2,5 trillion”, – said the chief specialist of the National Academy of Sciences of the Republic.

Avakian also said that Armenia has eight proven deposits of gold, the largest being in Sotk. There are six proven fields with gold and polymetallic reserves which can be developed for another 300 years, producing each year 1,800 tons of copper, 5,300 tones of lead, 7,300 tons of zinc, 670 kg of gold, 70 tons of silver, 2,300 tons of cadmium, 11 tons of bismuth, 18 tons of selenium and many other metals, as well as several thousand tons of sulfur and iron.

“The cost of proven gold and polymetallic reserves in Armenia exceeds $ 19.4 billion,” he said.

1 comment
  1. I always knew our land was rich in minerals, and other natural resources. This is good news, hopefully we can generate some great jobs for Armenia’s 20% unemployment and not be exploited by outside interests.

    Great News!!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletters

Get notified of the latest updates from MassisPost.

You May Also Like

AGBU GenNext Launches Enhanced Mentorship Program with Call for Applications

Now in its 24th year, the highly successful Generation Next (GenNext) Mentorships,…

New Professional Development Program for Teachers at Armenian Schools in Lebanon

LISBON — The Armenian Communities Department of the Calouste Gulbenkian Foundation and…

Valuable Historic Documents Restored at Armenian Patriarchate of Jerusalem

JERUSALEM — The Archive (Mayr Divan) of Decrees and Documents of the…

Bloomberg Photo Journalist Diana Markosyan Deported from Baku

Photo journalist Diana Markosyan working for Bloomberg news agency was deported from…