Ethiopia’s Ministry of Mines, Petroleum and Natural Gas (MoMPNG) disclosed the country will start producing metal in 2 years time.

According to Tedros Gebregziabher, State Minister for MoMPNG, currently there are 5 companies under preparation to explore, mine or process iron ore in Oromia and Amhara states. Out of these companies 2 of them are local firms while the other 3 are foreign companies.

The State Minister noted an Indian company dubbed MSP had completed feasibility study and is close to secure a mining license to mine in West Wolega Zone, Oromia. The license would enable the company to produce 155,000 tons of magnesite and ilmenite annually and also create job opportunities for 300 peoplehe added.

Tedros further noted the area was estimated to have around 6.3 million metric tons of magnesite and ilmenite.

The other 4 companies were at exploration stage in Wag Himra Zone, Amhara, the State Minister said.

Source: Fana Broadcastiong Corporate