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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.

Ethiopia's Zemen Bank announced floating of shares worth 100 million Ethiopian birr to increase its capital, Capital reported.

Ermias Eshetu, Vice President of Marketing and Corporate Services of Zemen Bank, told Capital that it is initially offering the purchase of the shares to its existing shareholders numbering around 3,000 and any remaining shares will be available to the public.

May Flower, an Indian mining company is to invest US$ 116 million in the Delbi coal mine located in South Western Ethiopia, The Reporter reported.

Alemayehu Deressa, general manager of Delbi Cola Mining S.C., told The Reporter, his company has been looking for strategic partnership to jointly develop the coal mine.

East African Bottling S.C, Producer of Coca Cola in Ethiopia completed expansion project at its plant located in Dire Dawa, last week, Fortune Reported.

The US$20 million expansion project has enabled the plant to increase its production capacity five times. Currently, the plant have the capacity to fill 36,000 bottled beverages hourly.