Ethiopia earns over 458 mln USD mining exports revenue in 9 months-Xinhua

Ethiopia earns over 458 mln USD mining exports revenue in 9 months

Source: Xinhua| 2022-05-24 20:36:46|Editor: huaxia

ADDIS ABABA, May 24 (Xinhua) -- Ethiopia has earned 458.07 million U.S. dollars during the first nine months of the current Ethiopian Fiscal Year 2021/2022, which started on July 8, an Ethiopian official said on Tuesday.

Presenting a mining sector export performance report to the parliament, Ethiopian Minister of Mines Takele Uma said the revenues were earned from the export of jewelry minerals, gold and industrial minerals during the stated period.

"In particular Ethiopia was able to produce 6,947 kilograms of gold during the first nine months of 2021/2022 fiscal year, an increase of 12 percent when compared to the same period last fiscal year," Uma said, according to Ethiopia state affiliated media outlet Fana Broadcasting Corporate (FBC).

Uma also said Ethiopia was able to export 2,317 kilograms of jewelry minerals during the stated period.

The Ethiopian Minister of Mines, however, acknowledged insecurity in various parts of Ethiopia is an ongoing hindrance for the growth of the east African country's mining sector.

In recent years, Ethiopia has undertaken a mass sensitization campaign to combat contraband mining activities that have been partly blamed for the east African country achieving unsatisfactory mining revenues in previous years.

The east African country has also made several key reforms in the mining sector in recent years to boost its revenue from the mining sector. This includes the establishment of several gold trading centers while at the same time reducing contraband mining trade.