Demand for copper 30mln tons, to increase twice -ZCMC rep 

ArmInfo.Currently, the demand for copper is about 30 million tons, and it is expected to grow by about two times. This was stated on November 8 at a seminar for journalists in Kapan, dedicated to the topic of "Mining industry and the agenda of economic development of Armenia", Deputy Director of the Zangezur Copper and Molybdenum Combine (ZCMC) Vardan Janyan.

In this regard, he emphasized that this industry is of great  importance for Armenia and its role can significantly increase in the  context of the country's economic development. "Everyone knows that  Armenia has been showing economic growth in the past few years, but  the main reason for this phenomenon is related to external factors,  such as the Russian-Ukrainian war. 

As a result, many trade and other processes pass through Armenia,  which leads to the registration of economic growth. But this growth  is not the result of our efforts and cannot serve as a basis for the  stable development of the country", - Janyan noted. As the Deputy  Director of ZCMC emphasized, in order to ensure stable growth, it is  necessary to develop key areas that have always been relevant for  Armenia and contributed to its development, such as the mining  industry and energy.

, - explained  Dzhanyan.

At the same time, he assured that the supply on the copper market  will be limited. According to him, in a few years, the demand for  copper will exceed the capacity of world mines to extract it.

At the same time, as the deputy director noted, Armenia's share in  the global copper supply is only 0.1%.  Nevertheless, even with such  a small volume, the country has significant potential for benefiting  and ensuring its development. 

Therefore, the emphasis is placed on copper, although in the global  context, our significance in the field of molybdenum is much higher>,  - explained Janyan. Speaking about molybdenum, Janyan noted that this  metal is used in many technologies. For example, in wind energy,  especially in offshore projects, where wind power plants are located  in hard-to-reach conditions. In this regard, in recent years the  growth in molybdenum prices has largely depended on the development  of wind energy.

, - the deputy director  continued. However, according to Janyan, the actual volumes of metal  production in Armenia are not so large, and the statement that the  country is a major producer of metals is not entirely correct.

, - the deputy director noted.

Janyan also added that out of the total volume of 34 million tons,  ZCMC exports 19 million tons of copper, Teghut - 7 million tons, and  Agarak - 4.5 million tons; the remaining volumes are insignificant.