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· Ethiopia has received US$283 million from mineral exports during the past six months
· The Ministry made the announcement after a review meeting of its six-month performance.
Ethiopia has received US$283 million from mineral exports during the past six months. The Ministry made the announcement after a review meeting of its six-month performance.
Million Mathewos, State Minister at the Ministry noted the mining sector has a significant role to play in ensuring sustainable development in Ethiopia. In light of this, he said, institutional reform has been conducted and continuous works are set in motion to ensure increased production and exports in the sector.
The mining sector holds a huge potential that will help secure more forex and replace imported mining products with local ones, the state minister related. The country realized US$283 million from the export of gold as well as other products. The government has provided support for industries in the sector, and consequently witnessed a rise of up to ten thousand tons in production at some production factories.
Ethiopia spends up to $275 million to import coal, and efforts are underway to replace this with local production. The Ministry of Mines and Petroleum has signed agreements with eight companies for coal mining recently, which would involve a total investment of 8 million birr.
