Armenia’s Biggest Mining Firm Commits to U.N. Standards on Environment, Labor, and Transparency

Armenia’s largest mining company, Zangezur Copper Molybdenum Combine (ZCMC), has joined the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative — a significant step in its efforts to align with international standards on environmental, social, and governance (ESG) performance.

By becoming a participant in the UN Global Compact, ZCMC has committed to integrating the initiative’s Ten Principles into its operations and business practices. These principles focus on human rights, labor standards, environmental responsibility, and anti-corruption measures. The company has also pledged to support the achievement of the United Nations Sustainable Development Goals (SDGs).

The move places ZCMC among thousands of companies worldwide that have voluntarily committed to advancing responsible business practices and sustainable development.

“Joining the United Nations Global Compact reflects our commitment to continuously improving the way we operate and to aligning our business with globally recognized principles of responsible corporate conduct,” said Roman Khudoliy, General Director of Zangezur Copper Molybdenum Combine.

“As Armenia’s leading mining company, we recognize our responsibility to create value not only through production, but also through strong governance, environmental stewardship, safe workplaces, and constructive engagement with our stakeholders,” he added.

As part of its participation in the initiative, ZCMC will publish annual Communications on Progress (CoP), providing public updates on how it is implementing the UNGC’s principles and allowing stakeholders to evaluate its performance against global peers in the mining and metals sector.

The company also reported progress in its broader sustainability agenda, noting that it recently completed an assessment by one of the world’s leading ESG rating agencies for the 2024 reporting year. According to ZCMC, its ESG score has improved by 20 points over the past two years, exceeding the global average for companies in the metals and mining industry.

While the detailed results of the assessment have not yet been released publicly, ZCMC said it intends to pursue a public ESG rating for the 2025 reporting year, with publication expected in 2026.

The company described its accession to the UN Global Compact as another milestone in its long-term sustainability strategy, aimed at strengthening corporate governance, increasing transparency, and creating lasting value for employees, communities, investors, and other stakeholders.