TSAGHKADZOR, OCTOBER 16 – NEWS.AM։ Armenia needs to change the underlying philosophy governing relations between the state and subsoil users. Roman Khudoliy, CEO of the Zangezur Copper Molybdenum Combine (ZCMC), made the statement at the Mining Armenia Forum 2026.
According to Khudoliy, without clearly written laws that are consistently enforced and protect investors’ rights, the mining industry will remain in its current state.
He pointed out that despite three years of meetings, no new deposits had been discovered during that period, and none of the licenses for previously discovered deposits had resulted in an operational mine or the start of construction. Over the past 15–20 years, he noted, Lydian had been the only company to achieve tangible results.
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