Ethiopia revokes licenses of 972 miners

Addis Ababa, July 22, 2022 (FBC) – The Minister of Mines and Petroleum Ministry of Ethiopia, Takele Uma, in a recent press briefing, noted that the institution is working to ensure that the mining and trading of minerals comply with the interest of the nation and the people as well.

“We will not allow our natural resources to be wasted in the name of investment,” Takele underscored.

The Ministry has revoked the licenses of 972 miners who did not comply with the terms of their exploration and production licenses and who engaged in illegal trading, he said.

In related story, Takele so far stated that regardless of all the constraints and challenges the mining sector faces, gold continues to earn more forex next to coffee.

Takele indicated that Ethiopia earned 513.9 million USD gold mining and production sector during the past 11 months.

Takele added saying: “Together with the National Bank of Ethiopia we are working on mechanisms that will limit the constraints we face, in order to generate more forex through gold sales,”