The Ethiopian government has allocated Birr 45 billion to implement ten new initiatives aimed at strengthening the mining sector and increasing foreign currency earnings, the Ministry of Mines announced.

Presenting a nine-month performance report to the House of Peoples’ Representatives, Mines Minister Habtamu Tegegn outlined priorities such as capacity building, improving extraction efficiency, upgrading geo-science laboratories, acquiring modern equipment, and supporting import substitution.

“The government is committed to diversifying foreign exchange earnings and maximizing gold exports,” said the Minister.

Over the past eight months, Ethiopia earned USD 1.88 billion from mineral exports. Three new gold factories have started operations, and efforts to boost coal production are underway. Import substitution products such as cement are helping meet domestic demand, although factories are not yet fully operational.

The Ministry highlighted that small-scale mining is being integrated with local communities, creating 47,000 new jobs during the reporting period. Investments in modernization and digitalization aim to further enhance production and position Ethiopia more competitively in the global mineral market.

Source: The Ethiopian Herald