The Oromia Regional Mineral Development Authority reported significant progress in the mining sector, exceeding USD 213 million in revenue from various mineral exports within the first nine months of the fiscal year. This surge comes alongside a crackdown on illegal mining activities, particularly in the gold sector.
Oromia Regional State signed a memorandum of understanding with the Ministry of Mines and 20 cement producing companies to regulate the price of cement products. The signing of the memorandum of understanding aimed to curb illegal actions in the market and production of cement.
The Oromia Regional State Mineral Development Authority has announced that it generated over USD 604.77 million from mineral exports in the past months of the current fiscal year.
Oromia State, Ethiopia, revoked licenses given to 218 investors and association which are accused of undertaking illegal mining practices.
458 lease contracts were revoked by Oromia Investment Bureau for the investors failed to start their business for a very long period of time. The lands the investors received were all in Oromia State, one of the 9 states in Ethiopia.
