Ethiopian Ministry of Mines and Petroleum Issued 24 Licenses in a Year

Mines Ministry LogoThe Ethiopian Ministry of Mines and Petroleum announced that it has issued 24 investment project licenses for exploration and licenses of minerals and petroleum. The investment projects have a combined capital close to $170 million (4.95 billion birr).

Of the 24 licenses issued in the Ethiopian fiscal year that ended on July 7, 5 are for production, while 19 are for exploration. In a statement, the Ministry also said the export of minerals earned Ethiopia close to $49 million, which still falls short of the target set. Arsenal mining, it was reported, created some 179,000 jobs.

The Ministry of Mines and Petroleum plans to generate $265.5 million from minerals export in newly started Ethiopian fiscal year.

Source: Fana BC


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