The study report entitled “strategic assessment of the Ethiopian mineral sector” was launched on Tuesday, October 07, 2014 at the Hilton hotel. The study was reportedly conducted by the assistance of the World Bank and other developmental partners from Australia, Canada, Denmark and United Kingdom.
Speaking at the launching ceremony of the study, minister of mines Tolosa Shagi said the country has secured more than 2.3 billion USD from export of gold, tantalum, opal, marble and other minerals during the last four years.
“The mineral and petroleum exploration conducted so far on limited part of the country both by the geological survey of Ethiopia and private companies, showed that Ethiopia is endowed with a favorable geological environment that hosts a wide range of mineral and geo-energy potentials,” he said.
Currently, over 130 companies are working in the solid minerals operations and oil and gas activities, according to the minister.
The minister noted that there is still a need for adequate transport and accountability system in order to manage the resources effectively.
Besides, Ethiopia has not benefited from its mining sectors due to limited geological data and technical and regulatory capacity, he indicated.
Senior mining specialist at World Bank, Kirsten Hund said Ethiopia has strong geological opportunity, which enables it to attain sustainable development which needs commitment in working hard in the sector.
Midroc general manager, Dr. Arega yerdaw on his part pointed out that the country would benefit a lot from the sector if it could provide fast services and make available plenty of skilled manpower in order to attract investors.
Africa’s mining income reached 120 billion USD in 2012, it was learned.
[ENA]
