Ministry Grants Six Mineral Production Licenses

ADDIS ABABA – The Ministry of Mines and Petroleum has granted mineral production licenses for five foreign and one local mining firms with a total registered capital of 4.7 billion US dollars.

The minister of Mines and Petroleum Takele Uma signed the mineral production agreement with the company executives at the ministry’s headquarters on Thursday.

The agreements have already been approved by the Council of Ministers last week.

The five foreign mining firms that agreed to invest in mineral production are from Australia, Canada, India, Norway, Sweden and UAE, and will produce Bromine, Gold and marble.

Oromia Mining Share Company is the local firm that will invest in gold production.

The six companies with a registered capital of 4.7 billion US dollars have already carried out exploration and fulfilled the necessary preconditions to start production, according to the ministry.

The companies are expected to create 1, 300 jobs.