2merkato

The Ethiopian Ministry of Mines is engaged in activities to ensure the development of mining and petroleum exploration investment in the country according to Sinknesh Ejjigu, Minister for Mines.

The MoM is undertaking activities to ensure that the sector grows in the current fiscal year she said in a quarterly report presented to the Natural Resource Development and Environmental Conservation Affairs Standing Committee of the House of Peoples' Representatives.

There are plans to conduct studies to better support and coordinate the development of traditional mining as well as to facilitate for large scale mining investment project said Sinknesh. A range of programs have already been launched towards building the capacity of traditional miners and to encourage others to engage in the sector allowing women and young people to be a part of the sector she added.

Various parties from the East African countries of Ethiopia, Tanzania, Kenya and Uganda are to hold a regional meeting dubbed ‘Great Rift Valley Energy Summit’ to discuss regional oil and gas potential. The two day Summit is to be held in Nairobi, Kenya from the 3rd to the 4th of December.

It is expected that government representatives, executives of international and regional oil and gas companies and Non Governmental Organizations will take this opportunity to deliberate the regional potential, goals and challenges as well as discussing projects, time scales and schedules planned for the rest of the current year and beyond in developing the regional resources.

Traditional artisan miners, in Benchimaji Zone, raised more than 177.2 million birr in revenue from the supply of more than 211 kilograms of gold to the National Bank of Ethiopia in the last quarter according to regional authorities.

The gold supplied to the central bank was mined Anjo, Gebisa Shola, Siali and Gesena in the Berona and Surma Woredas according to Tessema Shari, Department Expert of the Zonal Water and Energy Department of the region.

The revenue raised was 47.2 million birr higher than that raised in the previous year he noted. The increase in revenue was due to the technical support provided for miners and the legalization of the mining activities of traditional miners as well as other factors he noted.

Ethiopia is ready to approve a mining license for Nyota Minerals Ltd to allow it to develop the Tulu Kapi gold concession that it had been in the process of exploring according to Sinknesh Ejigu, Minister of Mines.

The ministry has agreed with the company on the technical and environment terms of the arrangement and is in the process of finalizing the economical aspects said Sinknesh. It is expected that Nyota will obtain the mining license at the end of the negotiations she said.