Armenia ranks last in spending on geological exploration work per square kilometre, according to Finport.am’s review of the sector.
The publication’s main point is that such a low level of exploration investment limits the country’s ability to assess its subsoil resources and identify new deposits.
Geological exploration is a core stage in mining development, as the scale of this work affects both the quality of future projects and their investment appeal.
Finport.am notes that this spending level leaves Armenia in an unfavourable position in comparative assessments.
The issue is important for Armenia’s economy because mining remains a significant contributor to exports and industrial activity.
