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Mining


MiningThe mining industry is a primary force in the development of national economies worldwide. This is so because the development in this basic stage of supply chain of raw materials and products necessarily lead to the development of other sectors as well.


Mining industry is among the most important branches in Armenian economy, especially with regard to the increasing export of mining products. Additionally it has a potential to play a key role in economic growth of Armenia, as the development in the mining sector may consequently lead to the development of other fields such as agriculture, chemical industry and many other fields as well.  Besides low taxes and license fees makes it even more profitable for a company to operate in Armenia in this industry. 


Broadly speaking mining industry can be a significant driver of development in Armenia, and can bring profit to a corporation operating in it; yet environmental consequences of mining are at the highest concern particularly among the population where it operates. The peculiarity of Armenia’s mining sector is that in line with its obvious short-term benefits from the economic point of view, in long run, however, there are higher costs to a society and environment. That is to say that whereas a few benefit from this field, others bear the cost such as unequal distribution of income despite of the fact that average monthly wages in the mining sector are significantly higher than in other areas of the economy, health issues, and environmental damages.

 
Avenue Consulting Group team observation pinpoint to the fact that in today’s business world it is essential for companies involved in mining sector to operate responsibly. Globally, nowadays there is an increasing tendency of international focus on Corporate Social Responsibility especially on mining and recourses fields. Many mining and mineral processing companies are operating responsibly by adopting CSR, and thus have a reputation of being innovative. So it is equally important to have both an advanced technological understanding of the sector and ensure that a corporation is well aware of all technological innovations and marketing trends and involve accountability by operating responsibly.

 

In this respect deep industry knowledge of Avenue Consulting Group experts make advanced consultancy for the businesses involved in mining sector by suggesting variety of services that will meet the need of our clients. We support our clients in Strategic planning, which involves forecasts necessary for identifying both new investments and potential growth, trends analysis, risk management measurements, competitive landscape analysis, as well as we are advising on legal and taxation aspects of doing business in mining sector, we involve legal due diligence, licensing, regulatory affairs and finally we can support to incorporate CSR concept in the company’s strategy.