Ethiopia is targeting to produce more than 65 tons of gold in the just started fiscal year from 3 different states, even if gold export fell to meet its target last fiscal year. The production is said to take place in State of Tigray, State of Oromia and State of Benishangul Gumuz.

According to Minister for Mines, Petroleum and Natural Gas, Tolosa Shagi, Ezana Mining Development PLC, KEFI Minerals PLC and MIDROC Ethiopia are set to comment gold production this fiscal year.

Ezana, a company licensed to explore as well as develop gold resources in Tigray, was expected to commence producing 2.5 tons of gold by the coming November, Tolosa explained.

The UK based KEFI, on the other hand, will be operating in West Wollega Zone, Oromia State, and it is expected to produce 30 tons of gold.

According to Fana Broadcasting Corporate, the local mining company, MIDROC Ethiopia, is building a plant at a cost of 250 million Birr in the aim of producing gold in Metekel Zone, Benishangul Gumuz State. Tolosa explained MIDROC would be producing 30 tons of gold once the construction of the plant is completed.

KEFI and MIDROC are scheduled to start producing gold shortly, Tolossa furthered.

Source: Fana Broadcasting Corporate