Seven companies have been given licenses to perform mineral exploration in Ethiopia, the Ministry of Mines and Petroleum announced.

Kiros Alemayehu, a senior public relations expert at the Ministry of Mines and Petroleum, said the companies to whom the licenses are granted are both local and foreign firms. The licenses will remain valid for three years, he added. He also said they are expected to create employment opportunities for 138 workers.

The minerals the companies are set to explore include gemstone, gold, iron ore, potash, coal among others. The exploration will encompass the regions of Afar, Amhara and Tigray.

Mr. Kiros further related that the companies have been chosen in consideration of their capital, and their contracts may be extended depending on how they perform.

The seven companies are expected to invest a total of 90 million birr over the three-year exploration period.

Source: Fana BC