The Ethiopian Council of Mineral Affairs said they are drafting a new 20-year policy for the mining and petroleum industry. The Council made this known during a consultation meeting held with stakeholders, with the intent to enrich the drafted policy.

The Council of Mineral Affairs has said the new the policy will help resolve some of the challenges faced in mining and petroleum. During the consultation meeting, participants have pointed out the shortcomings of previous policies in relation to their being focused on the major minerals only.

Ethiopia’s mining sector’s contribution to the country’s GDP is so far meager, and during the consultation meeting it was indicated that this was mainly due to lack of awareness and value addition, and low mining investment. The new policy hopes to change this by addressing the challenges faced in the sectors. This, it was stated, will bring a rise in revenue, help create more jobs, and encourage investors.

Source: Fana BC