The Government of Ethiopia has secured over $3.5 billion revenue from minerals export was over the past 8 months, says the Ministry of Mines of the country.
This is mentioned today at a review of the past eight months performance of the mining sector by the Ministry of Mines and its affiliate institutions. During this period, more than $3.5 billion in foreign currency was earned from gold, gemstones, and industrial minerals.
Compared to the same period last year, this represents a 27% increase in volume and a 92% increase in revenue. Various mining projects were inaugurated and commenced operations during this budget year, leading to improved results in both export trade and import substitution products.
For the remaining months of the year, necessary support will be provided to ensure that ongoing mega projects become operational. Furthermore, strategic directions have been set to sustain the current successful outcomes in key focus areas, according to the information from the Ministry of Mines of Ethiopia.
Gold stands at the forefront of Ethiopia’s minerals export. In the 2024/25 fiscal year, Ethiopia exported 22.5 tons of gold in just eight months, nearly quadrupling its 6-ton target.
Ethiopia’s gold exports, which totaled 4.9 billion birr in the fiscal year ending June 30, 2024, escalated to 275.1 billion birr in the subsequent year.