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Ethiopia Licenses 44 Mining Companies in 9 Months

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During the first nine months of the current Ethiopian fiscal year, the country granted investment licenses for 15 foreign and 29 domestic companies that would participate in the development, exploration, and production of minerals.

The country also generated USD 172.25 million from its mines export trade, according to the Ministry of Mines. The majority of the revenue, 150.6 million USD, was generated from gold exports. In her performance report, Messeret Nigussie, the Ministry's Strategic Affairs Executive Officer, stated that Ethiopia produced 2.68 tons of gold, 255.7 tons of jewelry minerals, and 164.5 tons of tantalum during this period.

The mining sector has provided employment opportunities for over 146,784 citizens during the first nine months of this fiscal year. Habtamu Tegegn, the Minister of Mines, emphasized that the government was committed to developing the sector to increase foreign currency revenue and create more job opportunities.

Source: Ethiopian News Agency