Ethiopia Earned US$593 Million from Export of Minerals

n in the just ended Ethiopian Fiscal Year, short of US$255 of the target set by the Ministry of Mines for the budget year. The revenue has also decreased by US$61 million compared to earnings of same period last Ethiopian Fiscal Year.

The decrease is said to be as a result of price fall of gold in the global market, which causes companies in Ethiopia to reduce their gold export, according to Sinkinesh Ijigu, Minister of Mines.

The Ministry's report indicates gold takes the lion-share of the country’s mines export earnings.

In the last fiscal year, the country has exported 12 thousand kilogram of gold, over 81 thousand tons of tantalum and over 25 thousand kilogram of gem stones.

The earnings over the past two years indicate healthy developments as measured by the target of mines sector in the government's five year Growth and Transformation Plan, according to the minister.

Figures show the ministry's Geo-Science services has earned it 15 million birr.

Source: Walta

 

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