Ministry Grants Three Exploration Licenses

Apr 26 , 2019


[ssba-buttons]

The Ministry of Mines & Petroleum has given exploration concessions to three companies to explore gold, metals and coal in Tigray, Amhara and Benishangul-Gumuz regional states. The companies are expected to invest 31 million Br and employ 46 people for the exploration work, according to Samuel Urkato, minister of Mines & Petroleum. A total of 56 companies have requested concessions to explore different minerals in Ethiopia, and those that have fulfilled the Ministry’s criteria are being awarded, according to Samuel. The Ministry also awarded mineral exploration concessions in the Amhara and Tigray regional states to six companies a week ago. Five of the companies will be engaged in the exploration of metals, while one will be exploring limestone. The mining industry has slumped in the past few years, with earnings from exports dropping to 130 million dollars last year from 600 million dollars seven years ago.


Radar

Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


Radar

Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Wegagen Bank S.C. and Gift Real Estate Plc. signed a Memorandum of Understanding (MoU) on June 23, to offer housing loans for homebuyers, with a special focus on the Ethiopian diaspora. The agreement enables eligible diaspora members to access loans covering up to 80pc of a home's value at reasonable interest rates. The bank's Deputy CEO Kidane Gebreselassie noted the deal will promote the real estate sector and expand homeownership options. Founder and CEO of Gift Real Estate, Gebreyesus Igata...


Radar

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coor...