The Ethiopian Ministry of Mines has finalized a draft mineral exploration licensing directive, The Reporter reported.

Following a year long suspension of issuance of explorations license, the Ministry started accepting exploration applications in March 2013, however, it has not yet started granting exploration license, according to The Reporter.

 The drafting committee within the Ministry has submitted the draft to Minister of Mines, Sinkenesh Ejigu and State Minister, Tolossa Shagi Moti, last month. The draft directive is expected to be signed and take effect in few weeks.

"We have started accepting applications for mineral licenses. Once the directive is approved, we will start awarding exploration concessions," Sinkenesh told The Reporter.

Previously, the Ministry used to grant concessions on first come first served basis, this procedure will be changed, the Minister said, with a competitive award procedure after review of by a committee formed for this purpose.

Dangote Industries, Allied Chemicals PLC, Rusf Gladwuneya Gold Mining PLC, Sekota Mining PLC and MSB Steel PLC are among companies which submitted their application the Ministry.

Source: The Reporter