MIDROC Gold Plc. announced that it would construct its second gold extraction plant with an outlay of 250 million USD in Benshangul Gumuz Regional State.
The exploration work at Gilay locality in Bulen Woreda in the state took 10 years, it was indicated.
MIDROC Gold Project Director, Abiy Setargachew, said the exploration carried out on 4,000 square kilometers has proved that there is a huge gold deposit in the locality. The deposit could last some 10 years, he said.
Abiy stated that the plan is to divert the 5 to 6MW electric power required for the plant from Gilgel Beles Power Generating Dam.
The company has spent quarter a billion Birr for exploration work and created 250 jobs, he said.
Chief Administrator of Benshangul Gumuz Regional State, Ahmed Nasser, for his part said the plant would have significant economic benefits for the region and the country.
The government and people of the state would continue providing all the necessary support for this project as well as other similar investments, he added.
MIDROC Ethiopia Technology Group has a gold extraction plant at Shakisso, Oromiya Regional State.
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