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Ethiopia Earned US$ 300 Million from Minerals Export

Ministry of Mines has disclosed that Ethiopia secured 300 million dollar revenue in the last nine months from the export of minerals.

However, this is half of what the Ministry planned for the fiscal year, according to Ato Tolosa Shagi, Mines Minister. He explained the reason for the low performance is the fluctuating price of gold in the international market. He further noted increasing the number of gold miners can be considered as an alternative.

Out of the 300 Million dollars the country has managed to generate from minerals, it is only 92.92 Million dollars that was derived from minerals that came with the industrial channel The rest was from traditional miners. Gold took a major share out of the mineral export by 2,930 kilos, Tantalum, marble and platinum came next with the amount of 54.27 tones, 210.24 cubic meter and 40 kilos respectively.

Source: Ethiopian News Agency

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