Benishangul Gumuz Regional State disclosed that the revenue it earned from gold during the past nine months of this fiscal year was registered to be low when compared to the same period during the last fiscal year.
Benishangul Gumuz’s Mineral Resources Development Bureau points to the black market and illegal trafficking as the major challenge that is affecting the production of gold in the region. It also admits that the regulatory system employed to monitor the production and marketing of gold has not been adequate. Accordingly, the Regional State is working with Federal Police to tackle illegal trade.
In addition, only 20 companies out of the 250 which were licensed to engage in marble and coal production in the Regional State became operational. Security issues were identified as one of the major bottlenecks which hindered companies from starting operation.
Modern mineral exploration began in Ethiopia in the late 1890’s by foreign companies. Gambella, Benishangul Gumuz, Oromia, and South West Ethiopia are known for their gold resources. Gambella Regional State’s Akbobo narrow greenstone sub-belt is labeled a high potential target for gold exploration by the Ministry of Mines.
Ethiopia earned USD 560 million from gold during the 2021/2022 fiscal year.
Source: Addis Zemen and 2Merkato Archives