Ministry Issues Five Exploration Licences

January 25 , 2020


Ministry Issues Five Exploration Licences

The Ministry of Mines & Petroleum issued five exploration licenses to four companies last week. Aleta Land Plc, Rose Ethiopia, Agodayo Metals and A-One Marble and Granite are the four companies that have signed an agreement with the Ministry for three years. The companies are expected to explore gold, iron ore and limestone in two regional states. Of these companies, Aleta Land was issued two licenses. The agreement was signed between Samuel Urqato (PhD), minister of Mines & Petroleum, and representatives of the four companies in the presence of officials from the mines and petroleum bureaus of the Southern Nations, Nationalities & Peoples' (SNNPR) and Amhara regional states. The exploration in the Southern region will be undertaken by Aleta Land and Rose Ethiopia, and the exploration activities in the Amhara Regional State will be managed by Agodayo Metals and A-One Marble & Granite companies. The companies have allotted 45 million Br for the exploration, and they are expected to create 57 jobs. The mining sector used to generate more than 600 million dollars from exports. However, the revenues have declined to 170 million dollars in the last fiscal year


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