The Amulsar gold mine has already reached the operational stage and is beginning to have a noticeable impact on Armenia's economy. According to Minister of Economy Gevorg Papoyan, if current gold prices are maintained, the enterprise will transfer up to $130 million in taxes to the state budget in 2027.
Image source: arka.am
The mine employs about 1,600 people. In addition, its operation has led to the creation of up to 4,000 indirect jobs. If the price of gold increases, tax revenues could be even higher, the minister noted at a briefing on October 19.
According to Papoyan, the activities of the Amulsar mine could provide growth equivalent to 1.5–2% of Armenia's GDP, significantly increase exports, and strengthen the country's economy.
