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Ethiopia to Amend Mining Law

The Ethiopian Ministry of Mines has drafted a bill to amend the country's mining law to enhance investment in the sector, The Reporter reported citing a senior official from the ministry. According to the source of The Reporter, the bill has been referred to the House of Peoples' Representatives standing committee on Environment and Natural Resources.

The amendment is said to include revision of mineral exploration and mining license  application procedures and incentives accorded to the sector. Revenue from mining contribute only one percent to Ethiopia's Gross Domestic Product. The investment capital in the sector has reached 14 billion Ethiopian birr and revenue from mineral export stood at US$600 million per year, according to the Ministry.

Source: The Reporter