MinTex, Mining Expo to Kick Off Debuting a Gemstone Trading App

Oct 22 , 2022

Takele Uma, minister of Mines, plans to host a three-day mining expo at the Millennium Hall next month. Gemstone manufacturers have called for the event to be held. Local gemstone companies complain that Ethiopia has an untapped mineral production capacity while not having a streamlined supply chain that reaches international markets. A platform to trade gemstones will be debuted at the event. Eagle-Lion Systems Plc, an IT solution provider incorporated two years ago with 15 million Br capital, develops the technology dubbed Ethiopianminerals.apk. The company has developed a dozen applications for micro-credit booking systems and digital remittance platforms for Dashen Bank and the Bank of Abyssinia. It is also known for developing remittance applications such as CashGo and GuzoGo. The app will allow direct trades and an auction mechanism for gemstones such as opal and minerals like Tantalum. The Minister hopes to see payment made digitally using payment options like PayPal, while delivery will be conducted through FedEx or DHL, opening up an international market to local products. A fertilizer company in Canada, a marble manufacturer in Italy, a gemstone company in India, and a gold miner in Ghana are among the companies that showed interest in displaying products at the expo. Mining equipment vendors from China are expected to participate in the event, with 100 exhibitors.



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