Armenia

EITI Status Yet to be assessed against the 2016 Standard
EITI Member Since 2017
Website EITI Armenia

Overview

The mining sector is the fastest growing part of Armenia’s economy. In 2015, the mineral industry grew by 50.4% in comparison to the previous years and made up 16.7% of total industrial production of Armenia. Ore concentrates and metals products continue to comprise more than half of total exports, which in 2015 was valued at USD 462 million and were up to 20% higher than in 2014.  The country has significant deposits of gold, copper, molybdenum as well as smaller deposits of zinc, lead, iron and silver. According to the Armenian Development Agency, Armenia has more than 670 deposits of solid minerals, including 30 metal mines.

Beneficial ownership disclosure

Armenia’s EITI work plan lists several activities to ensure the disclosure of beneficial owners of the extractive companies by 1 January 2020. These activities include consultations with the wider public and submission of the BO roadmaps by September 2017. 

Source: EITI Armenia

Status of Armenia

The EITI Board has approved Armenia’s EITI candidature application at the Board meeting in Bogota in March 2017.

Implementation

The commitment to implement the EITI was first made within the framework of the Open Government Partnership, which Armenia joined in 2011. The Government of Armenia announced its commitment to implement the EITI during the first meeting of the Anti-Corruption Council on 31 July 2015. The Prime Minister at the time, Hovik Abrahamyan, expressed the government’s willingness to become an EITI member country and delegated the coordination of Armenia’s EITI accession process to Minister - Government Chief of Staff Davit Harutyunyan. A new government led by Prime Minister Karen Karapetyan was formed in September 2016. The programme of the new government referenced EITI implementation in Armenia as an important and effective step towards achieving objectives in the mining sector, and the submission of the EITI candidature application was incorporated in the Government Program. On 24 November 2016 Prime Minister Karen Karapetyan signed Decree 1104A on Establishing Multi-Stakeholder Group for Accession of the Republic of Armenia in the Extractive Industries Transparency Initiative and Approving Its Composition.

Following the Candidature application submitted by the Armenian government to the EITI, international EITI Board has designated Armenia as a Candidate country on 9 March 2017.

Source: EITI Armenia

 

Timeline

Validation

Armenia's Validation against the Standard will commence on 9 September 2019. The country was admitted as EITI candidate in March 2017.