BEAKA Total Trading PLC and L-Net Technology Group PLC, Ethiopian companies, secured licenses to produce high grade alluvial gold in Gambella and Benishangul Gumuz Regional States, respectively.
BEAKA’s license allows it to produce gold in Mangish woreda which is located in Majang zone of Gambella for the coming four years. The company has allocated Birr 138.6 million for the project and aims to produce 911,697 kilograms of gold within the four years period. On the other hand, L-Net has allocated Birr 148.2 million to produce 440.58 kilograms of gold within four years in Assossa and Hudulu woredas which are located in Assossa zone of Benisgangul Gumuz. The license grants the company to engage in gold production for 10 years. The companies are expected to begin operation within the coming three months.
Source (including image): Fana BC