Ministry Grants Mining Concessions to Six Firms


Ministry Grants Mining Concessions to Six Firms

The Ministry of Mines & Petroleum has granted mining concessions to six firms. The companies, which are looking to extract gold, marble, bromine and chlorine, have already completed exploration and the concessions were granted following a nod of approval from the Council of Ministers last week. Takele Uma, minister of Mines & Petroleum, inked the agreement with executives of the companies on September 30, 2021. Kurkuk Goldmine Plc, a firm registered in the British Virgin Islands, has obtained a concession to mine for gold on 1,000ht in Benishangul-Gumuz Regional State with an initial investment capital of 391 million dollars. It is expected to produce over six tonnes of gold annually. Oromia Mining S.C., a domestic firm, will be extracting gold on 510ht of land in Guji Zone, Oromia Regional State. The company has an initial capital of 147 million Br and aims to extract 84.5Kg of gold annually. Two India-based companies, Kripto Mining & Chemicals Plc and Bhumi Mining Plc, have also received permits to extract marble from Benishangul-Gumuz.


Radar

Coffee Exports Bring in 1.5B Br in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


Radar

Central Bank Holds Fourth Exchange Auction

The National Bank of Ethiopia(NBE) sold one dollar for 131.4961 birr in its recent auction. It was reported that 26 banks participated in this auction, which took place last week on Thursday. In a statement issued by the National Bank  following the auction, it was indicated that 70 million dollars was offered for the event. Subsequently, it was reported that 96 pc of the foreign exchange needs of the participating banks were met. In the previous auction, held 15 days ago, the bank had of...


Radar

City Registers 64,075 Births in Fiscal Year

The city has exceeded its birth registration target for the first nine months of the fiscal year, registering 64,075 children—71.15pc more than the set goal of 58,342. This success, with a registration coverage rate of 109.63pc, is largely attributed to the efficiency of the one-centre birth registration service system, which has been rolled out across health centres and courts. The total number of vital events registered, including births, adoptions, marriages, divorces, and deaths, reache...