Rédaction Africa Links 24 with Addis Standard2
Published on 2024-03-29 08:50:41
The Ministry of Mines recently granted mining licenses to four companies, symbolizing a significant milestone in the development of Ethiopia’s mining sector. The licenses were officially awarded to company representatives in a ceremony held at the Ministry of Mines headquarters. These companies collectively boast a registered capital exceeding three billion birr, highlighting the substantial investment being made in the country’s mining industry.
According to an announcement by the Ministry of Mines, the issuance of these licenses aligns with a decision made during the 27th regular meeting of the Council of Ministers. The objective is to support the development of bromine, granite, coal, and alluvial gold mines in Ethiopia. The mining licenses were granted following comprehensive mineral exploration activities undertaken by the companies, along with rigorous technical and financial feasibility studies, ensuring that the entities are well-prepared to enter the mining phase.
Among the companies awarded licenses is Jereh Chemical Industrial PLC, a locally registered company established by Chinese investors, focusing on bromine production in the Afar region. The company has committed over $39 million for its operational endeavors. Another recipient of a mining license is Rafiq Husni Farisalqab Sequoia Mining and Processing PLC, a company registered in Jordan and founded by foreign investors for granite production, with an investment exceeding one million dollars. Additionally, Sequoia Mining and Processing PLC, formed by Ethiopian investors specializing in coal production, is set to commence operations with an initial investment exceeding 600 million birr. Lastly, Oromia Mining S.C., established by Ethiopian investors, focuses on alluvial gold production and has secured an initial investment capital of 222 million birr.
The Ministry of Mines also highlighted a significant discovery of over 517 tons of gold reserves in Ethiopia, following extensive surveys conducted over the past 15 years. These surveys identified substantial gold ore deposits across various regions, including Benishangul Gumuz, Gambella, Oromia, and Tigray. The discovery of these gold reserves underscores the potential for further growth and development in Ethiopia’s mining sector.
Overall, the granting of mining licenses to these companies reflects the government’s commitment to promoting investment and economic growth in the mining industry. With significant capital investments and strategic plans in place, these companies are well-positioned to contribute to the development of Ethiopia’s mining sector and the overall economy.
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