Sinopia News Top

Ethiopia Gains USD 226.8 Million from Mineral Exports

Ministry of Mines LogoThe Ministry of Mines has announced that the earnings from exported minerals totaled USD 226.8 million in the 2022/23 fiscal year. The Ministry also reviewed its performance during the year, highlighting that a total of Birr 896.8 million was granted to both domestic and foreign developers engaged in mineral exploration, production, and processing.

The Ministry emphasized the importance of increasing the national production of coal as a substitute for imported coal. It also suggested that the incentive for purchasing gold could be raised from 35 to 60 percent. The Minister of Mines, Habtamu Tegune, reported that efforts were underway to revive the operations of Mosobo Cement, Capital Cement, and Pioneer Cement factories, which had previously ceased working. He also mentioned the inauguration of new factories such as Lemi National Cement, Abai Cement, and Berenta Cement, aimed at reducing supply constraints.

Source: Fana BC