2merkato

The Ethiopian Ministry of Mines is to reduce the validity duration of artisanal mining license from nine years to a maximum of two years, Fortune reported. The provision is said to be included under the draft mining proclamation which also  include numerous amendments to the 2010 mining proclamation.

Under the current law, artisanal mining license can be renewed twice for three years. Additional amendment under the draft proclamation include provision which reduced royalty from the sale of gemstones from the current 8 percent to 7 percent.

The Ethiopian Ministry of Revenues announced that it collected over 198 billion birr, which is close to $6.8 billion, in the 20111 Ethiopian fiscal year, which ended on July 7, 2019.

The Ethiopian Ministry of Revenues announced that it has collected over $5.45 billion (183 billion birr) in the last nine months. This, the Ministry announced is 96 percent of the 190.7 billion birr target it set for the period.

Ethiopian Ministry of Revenues announced it has collected $534.2 million (18.35 billion birr) during the month of May 2020.

Ethiopia’s Ministry of Revenue said it has collected a revenue of over $4.755 billion (191.4 billion birr) during the first eight months of the 2020/21 fiscal year which started on July 8, 2020.