Artisan Gold Production Lower than Projections

Gold produced by traditional artisan gold miners in Ethiopia has been below projection for the last two quarters according to sources.

A estimated 2 thousand traditional miners in the five gold producing regions of the country have only been able to supply 4,325 kilograms of gold to the National Bank of Ethiopia so far this fiscal year said the sources.

The amount supplied is 34.4 percent lower than what had been anticipated it was noted. The production rate is however still higher than the 3,809 kilograms that was produced by artisan miners in the previous financial year. The projected production was based on the quota for the previous year but may have overestimated the potential for production it was noted.

Gambella region was the only region able to meet the target set for it by the government delivering about 97 kilograms more than the 600 kilograms expected. Oromia the most significant contributor to traditional gold production only managed to supply a little more than 1848 kilograms or 93% of the intended amount.

Production in Tigray, Benishangul and Southern regional states also fell short of the targets set for them which contributed to the lower than expected total production it was said.

Source: Fortune

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