Mining business in Armenia will suffer from increased cost of electricity
The mines and combines cannot increase the price for their products – ore concentrate and blister copper – as the prices are set at international stock exchanges, news.am reports.
“Therefore, the reduction in income is inevitable,” confessed economist Gagik Makaryan , head of Armenian employers’ union.
Despite numerous protests, the PSRC of Armenia recently increased the price of electricity in the country by 6.93 drams per cubic meter. But the decision is expected to be followed by an increase in the prices of numerous products and services in the country.
Armenia`s mining business is on the verge of bankruptcy
20 August 2015
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