Mines and Petroleum Ministry Opens 30 Potential Areas for Investment

Addis Ababa December 29/2020 (ENA) Ministry of Mines and Petroleum revealed today that it has opened 22 mining and 5 petroleum sites as well as 3 service areas for investors.

Briefing journalists, Mines and Petroleum Minister Takele Umma said the potential areas for mining and petroleum have passed exploration stage.

Laboratories, drilling and refinery services are the other potential investment areas currently opened to market, he added.

The potential areas in mining sector include deposits of iron ore, gold, phosphate, potash, marble, coal, gemstone, limestone, chlorine, sodium chlorine, among others.

Identified petroleum potentials in Ogaden, Gambella, South Omo and Rift Valley are under concession, negotiation and open for oil and gas exploration, it was learned.

The minister called on businesspersons to invest in the mining and petroleum extraction potential areas and services.

According to Takele, the ministry has been working in collaboration with the relevant ministries to create conducive environment for investors by amending policies and laws that hinder the development of the sector.