Armenia

EITI Status Yet to be assessed against the 2016 Standard
Joined EITI in 2017
Latest Data From 2017
Website EITI Armenia
Last updated 16 August 2019

Overview

Mining sector is an important contributor to the national economy of Armenia. The country’s mineral resources include iron, copper, molybdenum, lead, zinc, gold and silver. According to the World Bank, exports of these resources have brought in an estimated USD 500 million annually over the past five years, making mining a leading sector in terms of exports and foreign currency inflows. Mining sector contributed 3.2% to country's GDP in 2017.

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. Beneficial ownership roadmap was published in December 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.

Production

CommodityReservesUnitSignificance
Copper ore and concentrate134,788wmt
Molybdenum concentrate4,378wmt
Ferromolybdenum29,585ton
Zinc ore and concentrate4,104ton

Revenue collection: revenues over time

Initializing chart.

Main revenue receipients by government entity

Reconciled revenues by company (top 5)

Revenue allocation

Social and economic contribution

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 at the time 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.

The first EITI Report covering 2016-2017 fiscal years was published in February 2019 and is available here.

Currently, the EITI process in Armenia is lead by Deputy Prime Minister Tigran Avinyan.

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.