2merkato

The Ethiopian subsidiary of BHP Billiton, World Exploration Incorporated will start to producing Potash in the beginning of 2014 announced the Ministry of Mines.

The Anglo-Australian company, which is one of five licensed companies prospecting for Potash in Ethiopia, is in the exploration stage said Bacha Fuji, Head of the Public Relation and Communication Department.

It is to be remembered that Allana Potash announced the discovery of 1.2 million tons of potash deposits in the Dallol depression of Afar Regional State.

Allana Potash announced the discovery of 1.2 million tons of potash deposits in the Dallol depression of Afar Regional State.

The Canadian company engaged in large scale mining exploration in Ethiopia anticipates launching into production in one year to supply more than 2 billion US dollars worth of potash.

The Canadian-based Alana Potash, which has been undertaking a massive mining exploration in Ethiopia, has announced it has discovered over 1.2 million tons of potash deposit in the Dallol depression of Afar region. It also anticipated that it would transform itself into production the potash that it estimated to sell for over two billion dollars of the mining in one year.

Ethiopia has earned more than 1.2 billion birr in revenue from investment projects in mining exploration and production licensed in the last nine months said the Ministry of Mines.

The investment projects requested licensing in the previous budget year according to Bacha Fuji, Director of Public Relations with the ministry.

An estimated 51 investors are engaged in exploration while others are engaged in production he said.

Ethiopia is in the process of finalizing preparations to offer 24 hour power supply for manufacturing industries in Addis Ababa said Miheret Debebe, Chief Executive of the Ethiopian Electric Power Corporation.

The country currently has the installed potential to produce almost 3000 MW of electricity of which more than 40% is allocated to the industrial sector and 30% goes to the service sector it was said at a consultative deliberation held between representatives of major industries and experts from the Ministry of Water and Energy and the Ethiopian Electric Power Corporation.