https://en.sputniknews.africa/20240930/ethiopias-mines-ministry-estimates-gold-to-bring-800-million-this-financial-year-1068488789.html
Ethiopia's Mines Ministry Estimates Gold to Bring $800 Million This Financial Year
Ethiopia's Mines Ministry Estimates Gold to Bring $800 Million This Financial Year
Sputnik Africa
Ethiopia, a country with a rich geological history, is increasingly exploring its mineral resources to boost its economy. In particular, the country is... 30.09.2024, Sputnik Africa
2024-09-30T18:06+0200
2024-09-30T18:06+0200
2024-09-30T18:52+0200
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Ethiopia's Ministry of Mines and Petroleum is overseeing the construction of three new gold mining plants that are expected to boost the sector's profits to $800 million this financial year, Mines and Petroleum Minister Million Mathewos told the Ethiopian Press Agency.Ethiopia's 2024-2025 fiscal year began on July 8 this year and will end on July 7, 2025.With construction progressing rapidly, the plants in Benishangul, Gambela, and Tigray states are expected to be operational within 18 months. Once completed, these projects will add another 10 tonnes per year to the country's gold production, according to the minister.The ministry is also supporting the expansion of the Gugi Gold Mining Company and plans to launch potash mining projects in Afar State.The government is prioritizing the development of the mining sector and aims to exceed last year's mineral exports of $420 million. It is attracting both local and international investors through incentives and support for the import of industrial inputs, while promoting job creation across the country.
https://en.sputniknews.africa/20240804/africas-gold-strategy-path-to-sovereignty-global-economic-stability-experts-believe--1067734318.html
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economy, ethiopia, gold, gold miners, mining, east africa, economic growth
economy, ethiopia, gold, gold miners, mining, east africa, economic growth
Ethiopia's Mines Ministry Estimates Gold to Bring $800 Million This Financial Year
18:06 30.09.2024 (Updated: 18:52 30.09.2024) Alla Shukanova
Writer / Editor
Ethiopia, a country with a rich geological history, is increasingly exploring its mineral resources to boost its economy. In particular, the country is actively developing its gold mining industry in order to contribute to foreign exchange earnings.
Ethiopia's Ministry of Mines and Petroleum is overseeing the construction of three new gold mining plants that are expected to
boost the sector's profits to $800 million this financial year, Mines and Petroleum Minister Million Mathewos told the Ethiopian Press Agency.
Ethiopia's 2024-2025 fiscal year began on July 8 this year and will end on July 7, 2025.
With construction progressing rapidly, the plants in Benishangul, Gambela, and Tigray states are expected to be operational within 18 months. Once completed, these projects will add another 10 tonnes per year to the country's gold production, according to the minister.
The ministry is also supporting the expansion of the Gugi
Gold Mining Company and plans to launch potash mining projects in Afar State.
The government is prioritizing the development of the mining sector and aims to exceed last year's mineral exports of $420 million. It is
attracting both local and international investors through incentives and support for the import of industrial inputs, while promoting job creation across the country.
