The Ethiopian Mineral Corporation (EMC) and Sunbird Bioenergy Africa have signed a Memorandum of Understanding (MoU) to advance Ethiopia’s renewable energy and biofuel production, marking a significant milestone in the country’s green economic transformation.
The Ethiopian Mineral Development S.C. (EMD) has announced that its Coal Washing and Processing Factory has washed and sold 38,091 tons of coal since commencing operations earlier this year.
Ethiopian Minerals Development S.C requested a loan of 166 million birr from the Development Bank of Ethiopia. The loan will finance the company’s expansion project on the Kenticha tantalum mine.
The expansion project requires an investment of 166.8 million birr to increase the production of tantalum concentrate. The new production line will aim to bring production capacity to 300 tons increasing the company’s revenue to 587.3 million birr.
Artisan miners sold 109.5 million US dollars worth of gold to the National bank. The 2,064 Kg of gold sold by the miners was
52% more than the 1,357 kg the central bank expected to collect the first quarter.
Artisan miners increased production because of increases in the international market and the National Bank’s offer of 5% on the price, according to Tamrat Mojo, head of traditional mines, manufacturing & transactions department at the MoM.
The Ethiopian Ministries of Industry and Transport requested that the Ethiopian Shipping and Logistics Enterprise and the National Bank allow 164 businesses to use desired mode of transport following challenges faced in the newly established multimodal transportation system according to sources.
The Ministry of Transport requested the National Bank of Ethiopia to exempt significant industries from the application of the multimodal system and to allow them to choose their own alternative transport according to a letter sent to the bank by Diriba Kuma, Minister of Transport.
The ministry of industry sent a similar correspondence to the CEO of the ELSE, Ahmed Tusa requesting 13 manufacturing industries to be exempt from the system.
