Ethiopia’s Mining Sector Generates Over 5.7 Billion USD in Export Earnings

Addis Ababa, August 6, 2026 (ENA) — Minister of Mines Habtamu Tegegne said Ethiopia earned more than USD 5.7 billion in foreign currency from the mining sector during the 2018 Ethiopian fiscal year, as the sector continued to expand its contribution to the country’s economic development.

The minister disclosed the performance during a review of the mining sector’s achievements in the 2018 Ethiopian fiscal year and its plans for the 2019 fiscal year. The meeting was attended by representatives from the Ministry of Mines, the Ethiopian Geological Institute, and the Mineral Industry Development Institute.

Habtamu said the mining sector is one of Ethiopia’s five major economic pillars, noting that it has grown rapidly in recent years.

He said gold production remained the main contributor to the sector’s export earnings, with 44 tons of gold produced by mining companies and traditional miners generating USD 5.65 billion in revenue during the concluded fiscal year.

The minister said the sector also created permanent employment opportunities for more than 271,000 people during the period, while progress was recorded in mining investment expansion, license issuance, and the production of mineral-based products aimed at reducing dependence on imports.

Habtamu also highlighted the start of natural gas extraction in Ethiopia during the fiscal year, saying the resource is currently being used as an input for major ceramic factories.

He added that plans are underway to use natural gas for transportation, fertilizer production, and power generation in the future.

He further noted that fertilizer and iron smelting factories began operations during the fiscal year, while preparations are underway to bring strategic minerals, including potash, into production.

The minister attributed part of the sector’s growth to the transfer of authority to regional states to issue licenses for small-scale mining operations, saying the move helped expand mining activities.

For the next fiscal year, the Ministry of Mines has set a target of generating USD 6.7 billion in revenue from the sector, based on the performance recorded in the concluded fiscal year.

Ethiopia is endowed with gold and other mineral deposits, and the government has in recent years placed greater emphasis on strengthening mining activities, improving sector management, and increasing the role of mineral resources in economic development.