Ethiopia's Mining Sector Offers Promise for Both Local, Global Investors: Mining Minister

Addis Ababa, November 16, 2025 (EMA)—Ethiopia’s mining sector presents significant opportunities for both local and international investors, according to Mining Minister Habtamu Tegegne.

The three-day MINTEX Ethiopia 2025 Expo has been held at Addis International Convention Center. 

 In an exclusive interview with ENA, Minister Habtamu stated that the expo was highly productive, enabling Ethiopia to effectively showcase its substantial mining potential to prospective investors.

 He noted that valuable international insights were shared through panel discussions and research presentations delivered by scholars and global mining institutions.

 According to the Minister, recent macroeconomic reforms have sparked a marked rise in interest from both domestic and foreign companies seeking to invest in Ethiopia’s mining sector. International financial institutions, he added, are demonstrating strong readiness to finance and support these companies.

 Habtamu highlighted the recent agreement by the Trade and Development Bank (TDB) and the Africa Finance Corporation (AFC) to provide major financing to Tulu Kapi Goldmine SC, describing it as a vote of confidence in the sector’s productivity potential.

 He added that the agreement is expected to build trust among other financial institutions considering investment sponsorship and financing in the country’s growing mining industry.

 “In this respect, mining has become a promising sector in which to do business—not only for Ethiopians, but also for international companies,” the Minister emphasized.

 Harry Anagnostaras-Adams, Chairman of Tulu Kapi Goldmine Share Company, likewise underscored Ethiopia’s vast mining potential. He disclosed that his company’s gold mining project in Ethiopia is on track to be fully developed before Christmas.

He further stated that TDB and AFC have approved 70 percent of the capital required for the project. The Chairman confirmed that all stakeholders, including banks and international shareholders, have given the green light to proceed.

“Today marks a pivotal moment, as I announce that the banks providing 70 percent of the capital for this development have given their approval,” Anagnostaras-Adams said, adding that the company has already received sufficient offers to secure the remaining 30 percent.

“So we’re just going to take a week to maximize local participation, and then we will complete the remaining financing with our international investors and shareholders. This marks the financing as complete, and all stakeholders, the banks and our international shareholders have instructed us to proceed. The project will be in full development before Christmas.”