Stable Jurisdiction
- Multi-party democratic republic with a parliamentary system of government
- Western-looking government with strong ties to Europe
- Actively seeking Western investment
- Strong economic growth
- Member of OSCE, Council of Europe, IMP, World Bank and EBRD
- Safe, low-crime, friendly-to-foreigners
Mining Focus
- Modern, established Mining Law (2003) and Mining Code (2011)
- Transparent exploration permitting process
- Exploration Licences granted for an initial three year term with three, two-year extensions permitted
- EITI member since 2017[1]
- The metals and mining sector plays an important role in Armenia’s economy
- Contributed 6.8% of GDP in 2022 and
- 30% of 2018 to 2022 export revenue from copper, molybdenum and gold [2]
- Top 10 molybdenum producer, accounting for 4% of global molybdenum supply in 2021[3]
- 12 major operating mines, with production primarily centred around copper, molybdenum and gold
- New western-owned major gold mine in construction
- Good infrastructure and relatively low operating costs
The Right Geology – the Tethyan Metallogenic Belt (TMB)
- Armenia is underlain by the TMB - the world’s longest and one of the major metal producing belts
- The TMB in Armenia hosts several major precious and critical metal mines and deposits, including:
- the >4 Moz Sotk gold mine, in production for almost 50 years
- the Amulsar gold deposit, with first gold pour scheduled for late 2024 (overall resource base of 4.8 Moz of gold and 25.1 Moz of silver)
- The TMB in Armenia is prospective for epithermal gold and porphyry copper-gold deposits
- The TMB in Armenia is vastly underexplored and ripe for discovery
- Hayasa has used its first mover advantage to assemble a highly prospective project portfolio and is actively reviewing advanced stage assets to add to the portfolio
[1] Source: Extractive Industries Transparency Initiative (EITI)
[2] Source: German Economic Team
[3] Source: USGS, German Economic Team