Ministry Grants Mineral Production Licenses to Foreign & Local Mining Firms

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September 30/2021(ENA)  Ethiopian Ministry of Mines and Petroleum today granted mineral production licenses to five foreign and one local mining companies.

The licenses would help the companies to engage in the production of gold, Marble, Bromine and chlorine minerals in the country.

Mines and Petroleum Minister Takele Umma today signed the agreements with the Chief Executives Officers of the mining companies.

The Minister said during the occasion that the government of Ethiopia has given a great deal of attention to the development of mining sector for it is one of the key economic potential after the agriculture sector.

The firms that have secured the license today are believed to create huge capacity to enhance the development of the sector with a view to supporting the national economy.

He further called on all local and the foreign investors to engage in the area as there is huge  opportunity.

Ethiopian Investment Commission Commissioner, Lelise Neme said that the mining sector in Ethiopia has a huge potential to support the overall economic development of the country by attracting foreign and domestic investors.

The sector is key instrument particularly to create more jobs to citizens and improve foreign trade among other things.

The companies for their part said Ethiopia has untapped potential resources in the sector with conducive investment environment.

They further expressed their commitment to support the effort to boost the mining sector in the country. 

Of the six companies 5 are foreign such as from Australia, Canada, India, Norway, Sweden, UAE and one local company (Oromia Mining Share Company.)