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Gov’t grants mining licenses to four companies with a combined registered capital of over three billion birr

The Ministry of Mines granted large-scale mining licenses to four companies in an official ceremony held yesterday at the Ministry of Mines headquarters (Photo: Ministry of Mines)

Addis Abeba – The Ministry of Mines has granted mining licenses to four companies, collectively boasting a registered capital exceeding three billion birr.

These licenses were issued to company representatives by Habtamu Tegegne, Minister of Mining, in an official ceremony held yesterday.

According to the ministry’s announcement, the issuance of these licenses aligns with the decision made during the 27th regular meeting of the Council of Ministers, aimed at fostering the development of bromine, granite, coal, and alluvial gold mines.

According to the ministry, the granting of mining licenses followed comprehensive mineral exploration activities undertaken by the companies. These entities also completed rigorous technical and financial feasibility studies before advancing to the mining phase.

Among the licensed enterprises is Jereh Chemical Industrial PLC, a locally registered company established by Chinese investors, focusing on bromine production in the Afar region. The company has earmarked over $39 million for its operational endeavors.

The second recipient of a mining license is Rafiq Husni Farisalqab Sequoia Mining and Processing PLC, a company registered in Jordan and founded by foreign investors for granite production. This enterprise has allocated over one million dollars for its forthcoming mining ventures.

The third company granted a license is Sequoia Mining and Processing PLC, an establishment formed by Ethiopian investors specializing in coal production. With an initial investment exceeding 600 million birr, the company is poised to commence its operations.

The fourth company awarded a license is Oromia Mining S.C., established by Ethiopian investors, focusing on alluvial gold production. It has secured an initial investment capital of 222 million birr.

Earlier this week, the Ministry unveiled a significant discovery of over 517 tons of gold reserves in Ethiopia.

State Minister for Mines, Million Mathios, revealed that extensive surveys conducted over the past 15 years have led to the identification of substantial gold ore deposits across various regions, including Benishangul Gumuz, Gambella, Oromia, and Tigray. AS

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