Australian Miner, Foreskew, has requested an iron exploration license to prospect for iron in Oromia Regional State, Ethiopia. 
The firm is particularly interested in the area between Bale and Harrarghie which is known for oil seepage which is an indication of the presence of uranium and gemstones.
It remains unclear if the Ministry of Mines has began processing applications for exploration licenses for the ban put in place last November according to sources.
Ethiopia has earned more than 500 million US dollars in revenues from the mining sector in the first three quarters of the financial year according to the Ministry of Mines.108 million US dollars of the revenue earned was received from the larger companies involved in the sector explained Sinknesh Ejigu, Minster for Mines, speaking at a review meeting of mining stakeholders.
There are 257 licensed mining projects currently engaged in exploration and 137 active in production she said. 41 of the companies are joint ventures between domestic and international investors while 20 are domestic noted Sinknesh.
Most mining companies focus on exploration and extraction of metals, inputs for the industrial sector and construction materials she said.
Some companies have defaulted on paying land lease and royalty to the various regions as well as failing to submit timely reports and documentation to the ministry according to Gebre-Egizhaber Mekonnen, Director of Mining License Administration with the ministry.
Timely reports are being presented by just 80% of licensed companies he noted.
Another problem has been the illegal use of duty free vehicles imported for use in mining for other activities said Gebre-Egizhaber.
Challenges have also been seen with the protection of the environment and ecology and with maintaining safe working facilities he explained.
The MoM has put in place a range of directives and systems to help address these and other issues noted in the sector Gebre-Egizhaber said.
Source: The Reporter
