The Ministry of Mines and Petroleum of Ethiopia has set a target to produce 137,000 kilograms of gold in the coming ten years attracting 500 new foreign direct investments and 1,000 local companies.
In addition, the country also aims to produce 10,000 kilograms of gold by artisan miners in ten years. This is indicated on Monday at the discussion the Ministry held with regional governments in Adama City of Oromia Region of Ethiopia. The country has also set a target to produce 100,000 tons of marble and 30,020 tons of other industrial minerals and 30,000 kilograms of minerals used for jewelries.
In the last three months, Ethiopia has earned $178 million from export of gold. During the meeting the participants mentioned contraband trade of gold and other previous minerals as major challenge the country is facing. The report of the Ministry shows that mining sector in Ethiopia, which is one of the top priority investment area sect by the government, is expected to create jobs for tens of thousands of Ethiopians if properly regulated and managed.