Gold From Artisanal Miners Fetch $71.6 mln in 1st Quarter

Ethiopia has earned 71.6 million US dollars from export of gold supplied to the National Bank of Ethiopia (NBE) by artisanal miners during the first three months of the budget year, Ministry of Mines (MoM) disclosed.

The sum was obtained from 1,890 kilograms of gold supplied by artisanal miners during the period, Challa Bonsa, public relations and communications assistant head at MoM, told WIC.

Compared the ministry’s projection for the first quarter, the amount of gold supplied to the central bank is nearly 73 percent, Challa said.

With no financial resources or technical or professional competence required to acquire an artisanal mining license as well as a low license fee and tax exemption, artisanal miners, organized in associations, are contributing greatly to mining production in Ethiopia.

Artisanal mining is not limited to gold, production of tantalum and gemstones during the first three months has generated over 550 thousand US dollars, Challa told WIC.

The unprecedented rise in traditional mineral production led the ministry to revise the annual Growth and Transformation Plan (GTP) target of 5,250kg of gold supply to 18,000 kilograms this year.

Oromia, Tigray, Benishangul-Gumuz, SNNP and Gambella regional states are gold producing regions.
Source: Walta Information Center (WIC)