Council of Ministers Approves Mining Concessions

The Council of Ministers approves concessions for seven mining companies, four of which are looking to get involved in gold. The Ministry of Mines & Petroleum proposed the companies be granted concessions following the completion of a feasibility study, prepared based on the companies’ capital and their potential contribution to the country’s economy. The companies, also seeking to mine for marble, bromine and chlorine, are expected to invest close to five billion dollars and create 1,300 job opportunities. The gold mining firms would work on exploration and extraction works in the Gambella, Benshangul-Gumuz, and Oromia regional states. Gold exports brought in close to 700 million dollars last year.