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Ministry Issues Two Extraction Licenses

August 22 , 2020


The Ministry of Mines & Petroleum has issued two mining licenses for companies that will produce basalt and marble with a total investment of 270 million Br. It also issued 10 licenses for the exploration of gold, sediment-hosted gold deposits and gold-related minerals, metal, manganese, chromite, silver and gemstone. The exploration companies have a combined investment capital of close to 132 million Br. The concession agreement with the 12 companies was signed on Wednesday, August 19, 2020. State Minister for Mines & Petroleum, Simegn Wube, and the CEOs of the companies signed the agreement at the Ministry's premises. The companies that secured the concession are expected to create job opportunities for 480 people through their projects. The licenses are valid for one to three years and are open for renewal. The agreement was signed a day after Prime Minsiter Abiy Ahmed (PhD) nominated Takele Uma, former deputy mayor of the capital, to replace Samuel Urkato (PhD) as minister. Samuel, who served the Ministry for two years, was also nominated to head the Ministry of Science & Higher Education.


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