The result is clear: Asia (led by China) will soak up nearly half of this demand, while supply struggles to keep pace. McKinsey warns that closing the gap will require “trillions of dollars” of new investment and massive power expansion. Already, the profit centers of the global mining industry are shifting. 2024 saw revenues dip in coal and steel, even as copper, gold, and aluminum captured the biggest share of earnings. In short, coal and steel are yesterday’s business; today’s hotspots are the so-called “transition” minerals needed for the clean-energy economy.

Armenia’s Mining Potential in a Clean‑Energy World

Armenia’s mountains are rich in exactly the metals McKinsey says the world will need.  Industry leaders note this surge. Chairman and Co-Founder of the International Chamber of Mines of Armenia, Artyom Geghamyan, points out that copper prices have been above $9,000/ metric ton and the International Energy Agency (IEA) forecasts a major supply crunch by 2035: “Armenia can be a major contributor in the wake of this global demand”. At the same time, Armenia is not merely a supplier of ore; it is staking a claim in the digital economy. A nearly 500-million-dollar AI supercomputing hub, announced by NVIDIA, Firebird, and Team Group, backed by the government, will bring thousands of modern GPUs and more than 100MW of scalable power capacity to the country by 2026. That project is direct proof that materials and computers are moving in tandem, chips and data centers demand metals, and metals demand power, infrastructure, and a predictable policy. Armenia can and should be present on both fronts.

The Net-Zero Circle analyst, Ibtissam El Assad, echoes the point: “With copper and other critical minerals expected to remain in high demand for decades, Armenia’s trajectory will be defined by how effectively it can translate geological wealth into durable economic benefits.” In short, Armenia’s copper, molybdenum and even antimony, once Soviet-era backwater resources, now qualify as “transition minerals” in a global economy.  Experts specifically label Armenia’s copper, molybdenum, and antimony among the new category of metals whose long-term demand is skyrocketing. The window is open, and Armenia’s output grew about 11% per year even under older methods. If Armenia scales responsibly, it could ride the biggest mineral boom of our era. However, this transition won’t happen overnight. The world will pay top dollar for the metals that build the clean economy, and those who organize supply, add value, and guarantee standards will reap the rewards.

The global materials race is on, and McKinsey’s report is a wake-up call.. The surge in critical minerals demand will reshape economies.  For Armenia, this is a historic opportunity, but only if the country seizes it decisively. Policymakers must cut red tape and set clear rules. Investors must commit capital under fair terms and demand the reforms they need.  Mining companies must prioritize safety, transparency, and modern practices over the old ways of doing business, alongside civil society leaders treated as partners, with transparent consultations reducing risks and creating trust and legitimacy, which in this market is worth as much as any mineral deposit.

The energy transition will not wait. Only by acting boldly and collaboratively can Armenia turn its mineral wealth into a foundation of sustainable prosperity. The verdict of history is unwritten, but the clock is ticking; the time to mine for Armenia’s future is now.

The post Rising to the Global Materials Imperative appeared first on ICMA.

The Mining Armenia Forum 2025, held under the theme “Mining and Energy: International Trends and Armenia’s Potential,” brought together more than 250 representatives from government institutions, the private sector, investment companies, and international experts. Over two days of debate and discussion, the forum positioned mining not only as a foundation of Armenia’s economy but as a strategic pillar in the country’s transition toward sustainable growth and energy resilience.

Opening the proceedings, Prime Minister Nikol Pashinyan emphasized the forum’s importance as a platform for long-term engagement between the government and the sector, setting the tone for an event defined by both candor and ambition. The conversations that followed examined the deep interconnections between mining, energy, and industrial development, highlighting the sector’s potential to serve as a catalyst for innovation, investment, and regional competitiveness.

Participants from Armenia, Canada, the Netherlands, Kazakhstan, Russia, the United States, Belarus, and the United Arab Emirates explored the shifting dynamics of global resource markets and the imperative of aligning national policy with the broader transition to cleaner and more efficient energy systems. Across the sessions, a consistent message emerged: that Armenia’s mineral wealth, when developed responsibly, can underpin the nation’s long-term economic sovereignty and sustainability.

Industry leaders underscored the need for renewed exploration investments and a more coordinated approach between public and private stakeholders. Without such action, much of the country’s current production capacity risks depletion within the coming decade. At the same time, Armenia’s export potential continues to expand, with demand for copper, molybdenum, and gold rising in step with the global shift toward electrification and advanced manufacturing. Copper, in particular, is increasingly viewed not as a commodity of the past but as a critical mineral of the future.

The forum also stressed the importance of attracting high-quality investment and deepening institutional cooperation. Organized by the Armenian Mining and Metallurgy Association, and supported by Zangezur Copper Molybdenum Combine (ZCMC) and Lydian Armenia CJSC as general sponsors, the event showcased a maturing industry conscious of its environmental responsibilities and strategic role in global markets. ZCMC’s presentation of its 2024 Sustainability Report reinforced that commitment, reflecting broader progress within Armenia’s mining sector toward transparency, accountability, and adherence to international environmental standards.

As the country prepares to host the COP 17 World Summit on Biodiversity next year, the discussions in Yerevan carried a clear message: Armenia’s mining sector is not merely adapting to global trends but asserting itself as an essential player in the world’s transition to a sustainable energy future.

The post MINING ARMENIA FORUM 2025 appeared first on ICMA.

On September 29, the American University of Armenia (AUA) Center for Responsible Mining, the Armenian International Mining and Metallurgy Society (AIMMS), and the International Chamber of Mines of Armenia (ICMA) hosted a one-day workshop: “Global Progress in Optimizing Mining Processes: Prospects for Armenia.”

The workshop brought together industry leaders and academic experts to discuss reducing the environmental and resource footprint of metal mining. Topics ranged from minimizing waste, optimizing power and water usage, handling bulk materials, and implementing best available techniques (BAT).

The workshop examined the latest global advancements in optimizing resource use and minimizing the environmental footprint of mining and mineral processing. It presents the challenges and advances in processing practice at the mill, as well as how to manage waste.  It serves as a premier event designed to foster knowledge exchange by bringing together industry professionals and researchers to discuss critical issues and opportunities within the Armenian mining sector.

The post Global Progress in Optimizing Mining Processes: Prospects for Armenia appeared first on ICMA.

The post A Looming Deficit and a Climate Lever appeared first on ICMA.

The post Sustainable Mining Practices Program appeared first on ICMA.