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Armenian Minister of Economy Gevorg Papoyan on Thursday expressed concern over the ongoing strike by employees of the Zangezur Copper Molybdenum Combine (ZCMC).

The ZCMC workers began the strike on 31 January to demand a 50% salary increase and better working conditions, which was strongly rejected by the company’s management and its labor union.

“Naturally, we are concerned because a weeklong shutdown of Armenia’s leading enterprise will impact economic indicators and tax collection,” the minister told reporters, referring to the government’s involvement, which holds a 22% stake in the ZCMC.

Papoyan emphasized that the ideal scenario would be for the mining giant to resume its operations as quickly as possible. However, he declined to say what actions the government, as a shareholder, is taking to address the issue.

“I believe this matter concerns the union, the management of the mining enterprise and its employees,” the minister stated. “The true shareholder of the combine is the Armenian people, and as a result, 33 billion drams have already been contributed to the state budget.”

When asked about the enrichment of the ruling Civil Contract party members following the 2018 "revolution", Papoyan urged reporters to review his income declaration.

“I purchased one apartment with my salary before the change of power, and another apartment after it, again with my salary,” he clarified.