The Ministry of Mines announced Tuesday that it had secured more than 509 million dollars from the mining sector during in the last fiscal year.

The amount was secured from gold, tantalum and gemstone producing companies and traditional miners, Sinknesh Ejjigu, Minister of Mines, said.

It was reported in July that the Ministry of Mines had collected 104 million birr in royalty fees 98 million birr of which was paid by MIDROC Gold.

The ministry granted this year 54 licences for mineral exploration. Three quarters of the licences are for the exploration of gold according to Gebregzabher Mekonnen, mining licensing and supervision core process owner.

The sole producer of tantalum in Ethiopia is the Ethiopian National Minerals Development Enterprise whose exploration site is at Kenticha, Borena. Artisanal miners also produce tantalum in the Borena Zone.

MIDROC Gold has discovered a new gold reserve around Metekel in the Benishangul Gumuz Regional State.

Source: Ethiopian News Agency