2merkato

Goda Bottle and Glass Share Company is going to construct bottle and glass factory in Adigrat with 600 million Birr cost, according to Fana Broadcasting Corporate.

Gold production by artisan miners in Ethiopia has been 37% less than projected output in the just concluded financial year.

The artisan miners produced 8327 kilograms of gold as opposed to the 13,200 kilograms anticipated by the Ministry of mines.

The revenue earned from the export of gold however was only 17% below the projected revenue due to the increased price of gold on the international market. Consequently the revenue was just 88 million US dollars short of the 528 million US dollars projected by the ministry noted a report from the MoM.

The performance registered in the reporting period, however, exceed that of the previous year with the total amount exported (6,515 kilograms) surpassing what was exported last year (5250 kilograms).

The amount of gold supplied annually from Southwest Ethiopia to the National Bank has plummeted from 800 kilograms to just 90 kilograms, according to G/Mariam Setegn, Director of the region’s Minerals and Energy Agency.

Gold prices soared past USD 4,000 per ounce for the first time on Wednesday, extending a record-breaking rally fueled by geopolitical tensions, expectations of U.S. interest rate cuts, and growing investor demand for safe-haven assets.

A business delegation from Golden Africa, led by Managing Director Fouad Hayel, has met and discussed with Fetlework Gebregziabher, Ethiopian Minister of Trade.