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Ethiopia Drafts a New Mining Policy

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Ethiopia has formulated a national mining policy aimed at sustainably utilizing its mineral resources. The policy prioritizes creating a transparent regulatory environment, attracting domestic and foreign investments, promoting sustainable mining practices, and fostering local community engagement.

The policy framework, currently under parliamentary discussion, aims to streamline regulatory processes, attract investments, and enhance sustainability in mining. The Ministry of Mines hopes that the new policy, developed with international standards and global support, will make the country more competitive and create favorable conditions for investors.

According to the Ministry, there are currently 170 companies that are involved in exploring and developing mineral resources in the country. Over 100 companies are actively exploring, and around 70 are developing mining projects in minerals such as gold, gas, iron, and geothermal.

With a vast area of 1.1 million square kilometers and favorable geological conditions, Ethiopia holds significant untapped mineral wealth. The government considers the mining sector a major pillar of development, promoting it globally and prioritizing it through reforms.

Source: Fana BC and Ethiopian News Agency