The World Bank revised up its outlook for the economies of the South Caucasus and Central Asia in 2021, predicting that growth would be stronger than it initially expected, and forecast further acceleration next year.

Mine is expected to produce 190,000 tonnes of copper, including 20,000 tonnes of cathode copper by 2022.

The World Bank projected Armenia's growth at 4.8 percent in 2022 after a 6.1 percent growth this year.

A $146 million worth project was implemented jointly with the Russian national machine-building company Power Machines in the last three years.