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State generates 324 mln. USD from Mineral Sector –

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Addis Ababa, August 16, 2022 (Walta) – The Oromia Mineral Development Authority announced that it has secured 324 million USD from mineral development in the past Ethiopian fiscal year.

Oromia State Mineral Development Authority Director General Tesfaye Megersa told the Ethiopian Press Agency (EPA)that 48 minerals have been identified in research conducted by the authority so far.

Accordingly, the state has untapped minerals potentials and undertaking new measures to develop the resource wisely. In the past fiscal year, the state has mined 4,316-kilo gram gold and delivered it to the market. In addition, 461,000 tons of coal have been supplied to cement factories, he said.

Totally, 324 million USD has been collected from minerals and precious mineral mining in the past Ethiopian fiscal year, he stated. The authority has also supplied 22 million tons of gypsum stone to construction companies working in Addis Ababa city.

“The mineral and mining sector has been utilized 10 percent of the available potentials which is very low compared to the abundance of minerals in the state. Thus, various measures are being undertaken to improve legal frameworks and promote the sector investors,” he said. As to him, the authority has certified new potential investors and revoked 48 illegal miners.

Moreover, the state has imported 8 latest gold washing machines aiming to support legal miners. The state has applied new supervising and inspection mechanisms to protect the environment from all possible damages due to industrial chemicals following the sector investments, he stressed.

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