ADDIS ABABA-The Ministry of Mining has announced that total revenue from mining exports during the past ten months of this fiscal year has reached 2.57 billion USD.
Speaking to the Ethiopian Press Agency (EPA), State Minister Million Mathewos said that the National Bank of Ethiopia has secured over 29,396 kilograms of gold during the past ten months, a significant increase from the same period last year.
“The revenue from gold export reached 2.57 billion USD. The volume of gold delivered to the National Bank of Ethiopia has also risen,” he said. Gold production from regions including Tigray, Oromia, Gambella, and Benishangul-Gumuz reached 12,210 kg, 6,910 kg, 4,590 kg, and 3,680 kg, respectively.
The launch of macroeconomic reforms, which have narrowed the gap between formal and black market forex prices, has played a major role in the improvement, Million said.
As a result, gold reserves at the central bank have grown, surpassing last year’s figures.
Small-scale and traditional miners are now supplying gold directly to the NBE, reducing illegal trade due to the reform measures. “Their demand to engage in formal mining activities has significantly improved,” he noted.
The number of enterprises utilizing modern mining machinery is also increasing. Supported by ongoing training programs aimed at building technical capacity, small and medium enterprises are now benefiting from selling byproducts to larger firms, according to him.
Gold mining remains a priority for the government. Efforts to control illegal trading and enhance production capacity are being implemented in a coordinated manner, the State Minister highlighted.
Other mineral sectors are also under development. The Ministry is working in partnership with institutions such as Addis Ababa University, Wollo University, the Mining Development Institute, and the Geological Institute to advance the sector, he emphasized.
THE ETHIOPIAN HERALD TUESDAY 27 MAY 2025
