Stella Trade and Industry PLC is granted large-scale gold mining license to mine in Gambella State, Ethiopia. This makes Stella the first company to extract gold in Gambella.

According to Ethiopia Extractive Industries Transparency Initiative (EEITI) publication, currently there are more than 80 companies exploring for gold in Ethiopia. Nonetheless, it is only 4 companies that have been granted extraction license.

Stella secured the extraction license 2 years after it started exploration. It undertook exploration work on a total are of 255 square kilometers that have 2 exploration blocks. The blocks are dubbed Sali and Dembella. They are located in Bench-Maji Zone, Bore Woreda, in the Sali and Gabisa Kebeles, and in the Agnuwak Zone’s Dima Woreda, in the Dembella and Awaya Kebeles.

Now it will undertake the extraction work on a total area of 1.26 square kilometers in Agnuwak Zone, Dima Woreda. The place is said to be well known for traditional gold mining.

Stella got a large scale mining license which is valid for 10 years while its exploration license is valid for 20 years with a potential of being renewed for 10 years.

The company aims to produce a bit over 400 kilograms of gold in the first six years.

Source: Fortune