Home > Latest News > Armenian Mining Industry Posts Mixed Results

Armenian Mining Industry Posts Mixed Results

November 28, 2012 Leave a comment Go to comments

Armenia’s export-oriented mining and metallurgical industry has continued to expand this year despite a major fall in international prices for non-ferrous metals, according to official statistics.

The government data publicized by Energy and Natural Resources Minister Armen Movsisian this month also shows a sizable decrease in taxes paid by local mining companies. Movsisian attributed that to the lower prices of copper, molybdenum and other base metals in the international markets.

However, opposition politicians and other government critics claim that the drop is a further indication that the industry continues to underreport its earnings and evade taxes.

Armenian News

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