Ethiopia announced plans to see its revenues from mining rise by six-fold in the newly started Ethiopian fiscal year. To this end, the Ethiopian government made known, a national coordinating committee has been formed.

The national committee, comprised of representatives from several Ethiopian ministries, will "reinvigorate activities that can improve the sector and increase the benefits the country can secure from the sector," it was reported. Ethiopia's revenue obtained from mining currently stands at a mere figure of $44 million for the Ethiopian fiscal year that ended on July 7.

Gaps in legal frameworks, lack of integration among stakeholders and contraband are among the major challenges that are often said to have a negative impact on the country's mining sector performance. 

Yidnekachew Tezera, Chairman of the newly established committee, said the committee will focus on addressing the already identified problems, which include policy shortcomings and rising trend of contraband.

The committee will further work to streamline ongoing efforts among stakeholders, including customs offices, security and other bodies towards enhancing the performance of mining sector producers and exporters, Mr. Yidnekachew remarked.

Source: Xinhua.