Singapore-Based Multinational Trafigura Explores Investment Opportunities in Armenia

YEREVAN – On Wednesday, Armenian Prime Minister Nikol Pashinyan met with Jeremy Weir, CEO of the Singapore-based multinational company Trafigura, to discuss cooperation in the mining sector and explore opportunities for investment projects in Armenia.

According to the government’s press service, Weir presented details about Trafigura’s global operations and expressed interest in launching projects in Armenia as well.

Prime Minister Pashinyan emphasized the importance of ongoing dialogue and discussions to define the next steps in fostering bilateral cooperation.

According to Armstat, Armenia’s industrial output for January–April 2025 totaled more than 812.25 billion drams (at current prices), reflecting a 16.1% decline compared to the same period in 2024. Specifically, the mining sector’s output was nearly 135 billion drams—a 6.8% decrease—while the manufacturing industry produced over 535.4 billion drams, marking a 23.5% drop.

Trafigura Group Pte Ltd. is a Singapore-based multinational commodity trading company. Founded in 1993, it specializes in the wholesale trade of metals and minerals, oil and petroleum products, natural gas and electricity, including renewable energy sources.

As of March 31, 2025, Trafigura reported a six-month net profit of $1.5 billion, representing a 3% year-over-year increase. The group’s total capital exceeds $16.2 billion, and its total assets amount to $82.1 billion.

The Trafigura Group encompasses a range of industrial assets and operating companies, including multi-metal producer Nyrstar; fuel storage and distribution firm Puma Energy; the Impala Terminals joint venture; and Greenergy, a supplier and distributor of transportation fuels and biofuels. The company employs over 13,000 people worldwide, with more than 1,400 of them being shareholders, and operates in more than 150 countries.