Production, refining and reserves
| Commodity | Metric | Value | World rank · share | Source |
|---|---|---|---|---|
| Copper | Mine production 2022 | 68,000 t Cu content | #27 · 0.3% | USGS Minerals Yearbook 2022 (copper), table 20 |
| Zinc | Mine production 2023 | 5,000 t Zn content | #45 · 0% | USGS Minerals Yearbook 2023 (zinc, tables-only release), table 16 |
| Molybdenum | Mine production 2025 | 5,300 t Mo content | #6 · 2% | USGS MCS 2026 |
| Molybdenum | Reserves 2025 | 150,000 t Mo content | #7 · 0.9% | USGS MCS 2026 |
| Rhenium | Mine production 2025 | 200 kg Re content | #8 · 0.2% | USGS MCS 2026 |
| Rhenium | Reserves 2025 | 95,000 kg Re content | — | USGS MCS 2026 |
| Perlite | Mine production 2025 | 30,000 t perlite | #10 · 0.7% | USGS MCS 2026 |
Policies and export measures
Policy tracker →2023-01-01 · trade measure
Two-part mining royalty replacing the export duty on copper and molybdenum concentrates (from 1 January 2023)
The government decided to stop charging the state duty on exports of copper and molybdenum concentrates and molybdenum from 1 January 2023 and to add a profit-based component to the royalty instead. An extra royalty of 15% applies when a company's profitability exceeds 10%, so firms at or below 10% profitability pay no more than under the pre-duty royalty. Announced at the Cabinet meeting of 5 May 2022.
Source: Armenpress (Armenian state news agency)2021-07-12 · export control
State duty on exports of copper concentrate, molybdenum concentrate and related products (2021-2022)
The government decided to impose a duty on exports of copper and molybdenum concentrates and some related products, saying copper and molybdenum prices had risen more than 50% above the previous year's average and the royalty system did not share the gains fairly. It expected AMD 30-35 billion of extra budget revenue in 2021 at unchanged export volumes. The duty was replaced by a profit-based royalty from 1 January 2023. Government decision of 12 July 2021.
Source: Armenpress (Armenian state news agency)
Trade in critical minerals
Exports 2024$1.5 bn
- Copper$543 mto China 80%, Bulgaria 11%, Serbia 3% · 5 more
- Molybdenum$486 mto Russia 24%, Netherlands 24%, Belgium 17% · 29 more
- Palladium$264 mto Hong Kong 98%, China 1%, Russia 0%
- Platinum$172 mto Hong Kong 100%, Kazakhstan 0%
- Zinc$18 mto Belgium 97%, France 3%
- Aluminium$17 mto Japan 45%, Cyprus 22%, Hong Kong 14% · 8 more
- Gallium*$4 mto United States of America 54%, Belgium 45%, Russia 1%
- Platinum-group metals$3 mto Hong Kong 51%, China 49%
and 16 more commodities
Imports 2024$490 m
- Palladium$253 mfrom Russia 100%
- Platinum$160 mfrom Russia 100%
- Aluminium$48 mfrom Russia 99%, Türkiye 0%, Italy 0% · 4 more
- Molybdenum$11 mfrom Iran 100%, Russia 0%, Japan 0% · 1 more
- Platinum-group metals$10 mfrom Russia 100%
- Silicon$4 mfrom Iran 91%, Hungary 4%, Russia 3% · 5 more
- Manganese*$2 mfrom Kazakhstan 27%, Russia 26%, India 15% · 5 more
- Rare earths$589 kfrom China 78%, Curaçao 11%, Russia 4% · 24 more
and 25 more commodities
Trade values in current US dollars (ores, concentrates, intermediates, chemicals and refined metal), not prices. * Includes HS codes that also cover other products. Source: CEPII BACI (HS22), Etalab Open Licence 2.0 — details.
Fiscal regime for mining
| Instrument | Applies to | Rate | Legal basis |
|---|---|---|---|
| Royalty | Copper, Molybdenum, Gold, Silver, Zinc, Lead, Iron oreRoyalty component R1 = 4% of turnover (B1), payable by subsoil users extracting metallic minerals. Two further profit-based components (R2 12.5%, R3 15%) are recorded as a separate windfall row. 2% of royalties paid is allocated to affected communities | 4%B1: turnover from sale of concentrate, ingots, ore, subsoil-use waste or products of processing (payable metal content per Government-listed laboratories; pricing on the month after delivery) | Tax Code of the Republic of Armenia (2016), Section 10 (royalty), Art. 209, as amended by the law of 2022 (arlis.am docid 164753) in force 1 Jan 2023 · Art. 209in force 2023-01-01 |
| Corporate income tax (mining) | All mineralsProfit tax 18% (State budget), the general rate; no mining-specific rate. Royalty is deductible | 18%taxable profit | Tax Code of the Republic of Armenia (2016), profit tax section |
| Windfall / resource-rent tax | Copper, Molybdenum, Gold, Silver, Zinc, Lead, Iron oreRoyalty component R2 = 12.5% of B2. Additional component R3 = 15% of B3 = B2 - FE - (B1 x R1) - (B2 x R2) - (B1 x 0.15), charged only when B3 > 0 (i.e. on profit above a 15%-of-turnover margin after financial expenses). Both are called royalty in the Code but are profit-based | 12.5%B2: profit before taxation = B1 less directly related deductions (Tax Code Section 6), excluding financial expenses, royalty and prior-year losses | Tax Code of the Republic of Armenia (2016), Section 10 (royalty), Art. 209, as amended by the law of 2022 (arlis.am docid 164753) in force 1 Jan 2023 · Art. 209in force 2023-01-01 |
Rates and terms as set in the cited law or regulation; agreements with individual projects can differ. Not legal or tax advice.
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