Ethiopia Begins Building $355mln Gold Processing Plant

ADDIS ABABA – The construction of Kurmuk Gold processing plant in the Benishangul-Gumuz State of Ethiopia has begun after a successful conclusion of exploration.

“We officially started the construction of a gold processing plant built at a cost of $355M in the Benishangul-Gumuz region,” said Takele Uma, minister of Minerals and Petroleum, after laying the foundation stone for the construction along with Ashadly Hassan, the governor of Benishangul-Gumuz Takele Uma on Friday.

Research and sampling have shown that there is a high level of gold production in the area where the project will be carried out, according to the ministry.

When the processing plant becomes operational within less than two years, it will produce 7.5 tonnes of gold a year and create more than 750 jobs.

Mining authorities expect the project to increase the country’s gold production capacity and foreign exchange earnings.

“This will significantly increase the contribution of the mining sector to export earnings and national revenue,” Mining minister Takele said.

Ethiopia’s 10-year economic plan, which has targeted to boost the amount of foreign exchange earnings through export and import substitution of minerals from $265m currently to $17bn by 2030.