Ethiopia will earn up to 2 billion U.S. dollars in revenue from the export of gold in this Ethiopian fiscal year that started on July 8, Prime Minister Abiy Ahmed said.
Abiy made the remark while inaugurating a gold exploration and mining factory in Dima district, Gambella regional state of Ethiopia, the state-run Ethiopian News Agency reported Wednesday.
โFor the first time in Ethiopiaโs history, we anticipate earning up to 2 billion U.S. dollars solely from gold export this year. This goal is achievable thanks to sustained efforts over the past three years,โ Abiy stated.
The prime minister, however, said that this revenue potential reflects only a fraction of Ethiopiaโs untapped mineral wealth, which includes tantalum, iron ore, lithium and other valuable metal resources.
Abiy called for leveraging the countryโs rich mineral deposits for national development, noting that illegal mining and limited investment have long hindered the sectorโs growth and better earnings for the country.
The prime minister also reiterated the governmentโs commitment to prioritizing the mining sector as a key driver of Ethiopiaโs economic transformation and announced plans to establish additional factories in a short period to harness the countryโs extensive mineral wealth.ย โ
Source: Xinhua
