ADDIS ABABA Ethiopia
(Xinhua) -- Ethiopia government has
promised a "bright future" for foreign investors in the
country’s mining sector.
Ethiopian Minister of Mines
Tolesa Shagi on Friday called on development partners to join
the country’s efforts in boosting the mining sector development
for mutual benefit.
Speaking at a two-day international mining conference in
Addis Ababa, the minister explained Ethiopia’s mineral and
petroleum potentials as well as development achievements in the
"The future is bright for investment in mineral, oil and gas
industry, upstream, midstream or downstream in Ethiopia," said
The meeting has brought together representatives from global
mining industry, development partners, and stakeholders to
network, share experiences and discuss best practices through
case studies while dwelling upon opportunities and challenges
and other pertinent issues.
"The mineral and petroleum exploration activities conducted
so far on limited parts of the country have come up with
significant discoveries and reserves of gold, platinum,
phosphorous, iron, salt, potash, gemstones, coal, geothermal,
natural gas, industrial and construction minerals in different
parts of the country," Shagi said.
The minister said many private mining companies are currently
conducting mineral operations in different parts of the country.
A number of other companies have also shown interest to
explore for mineral and petroleum potentials in Ethiopia, he
Currently, more than 235 exploration and mining licenses have
been granted from the Ethiopian Ministry of Mines, which is
mandated to regulate mineral exploration and mining activities
in the country.
Some of the exploration companies have carried out intensive
exploration works and discovered economically mineable deposits
in the West, North, and South Greenstone belts, according to the
The minister also said that his country is working in
collaboration with bilateral and multilateral development
partners to alleviate the challenges and improve the sector’s