The EITI International Board expresses its appreciation for Armenia’s EITI stakeholders.

On April 25, 2024, the official EITI website published an article highlighting Armenia’s strong results in its latest Validation.

Below is an excerpt from the article:

“The EITI Board has decided that Armenia has achieved an overall high score in implementing the EITI (89.5 points). Despite geopolitical tensions in the region and disruptions caused by the COVID-19 pandemic, Armenia EITI has maintained effective implementation of its work plan and strengthened disclosures in the metal mining sector, one of the most important sectors of the country’s economy. Armenia can further expand its EITI implementation to address issues of public interest, such as responsible mining, environmental governance, and the transfer of ownership rights in mining licenses.

‘The EITI Board commends Armenia’s EITI stakeholders for their continued commitment to the EITI process and transparency reforms,’ said EITI Board Chair Helen Clark. ‘Armenia is encouraged to build on its progress in disclosing information on the mining sector by improving the use and analysis of data, while expanding public dialogue on vital issues of national interest.’

The metal mining sector continues to play a vital role in Armenia’s economy, accounting for 5.5% of total government revenues and 41.5% of total exports in 2021. Copper concentrate remains the main component of the sector’s output, with an average annual growth rate of approximately 11% between 2013 and 2021.”

The full text of the article is available here.