The Ministry of Mines has signed production license agreements with three mining companies following the completion of an evaluation process, involving investments exceeding 4.2 billion dollars. Under the agreement, Ethiopian Investment Holdings received a license to produce potash, with its processing facility expected to be completed within two years before production begins. The sovereign wealth fund oversees more than 40 state-owned enterprises and manages 36 active projects valued at about five billion dollars. The ministry also granted Z.Y.T.B-D.A.M Steel Manufacturing Plc a license to produce iron ore, while Bero Mining and Trading Plc secured a license for gold production. Both companies are expected to complete plant construction within two years before commencing operations. Officials say the projects are expected to generate employment and support economic growth once full production begins.

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