https://www.miningweekly.com
Gold|Mining|Resources
Gold|Mining|Resources
gold|mining|resources

Ethiopia cancels 27 idle mining licences in push for development

14th May 2021

By: Reuters

  

Font size: - +

Ethiopia has cancelled 27 idle mining licences and sent warnings to three companies, the mines ministry said on Friday, as the government looks to spur production.

Ethiopia has now cancelled 90 mining licences, including 63 it revoked in December.

"Following a re-investigation, 27 mining companies that had been licensed to operate in the mining sector but failed to enter into operation have had their licenses revoked and three miners have been immediately warned to correct their mistakes," the ministry said in a statement.

The licences will be opened up to international tender, mines minister Takele Uma told Reuters.

Ethiopia has been pushing to develop its mineral and metal resources, citing mining as a key sector in its economic reform agenda.

GOLD EXPORTS SURGE
Ethiopia has exported gold worth $504.73 million over the past ten months, the ministry added, up from exports worth $90.3 million in the fiscal year to end-June 2020.

Takele attributed the rise to efforts to bring artisanal miners into the formal market.

Around 75% of the gold exports this year have come from artisanal miners encouraged to sell to state-controlled buying centres, Takele said.

"We've been formalising, and increasing the production and the productivity," he said.

Gold prices have also risen, likely boosting the number of subsistence miners, according to analysts.

Edited by Reuters

Comments

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.078 0.111s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: