A modern gold exploration and mining facility has been inaugurated in Ethiopia’s Gambella Region, in the western part of the country.
A new gold exploration and mining facility has been inaugurated in Dima, a town in Ethiopia’s Gambella Region, with expectations of significantly contributing to the country’s economy and mining capacity.
Prime Minister Abiy Ahmed’s Remarks
Ethiopian Prime Minister Abiy Ahmed attended the opening ceremony, emphasizing the facility’s importance. He noted that Dima has been involved in traditional, small-scale gold mining for over 30 years, a practice that often resulted in substantial waste. The new facility, he highlighted, will play a key role in addressing this issue.
The Prime Minister also announced Ethiopia’s goal of earning $2 billion from gold exports this year, underscoring the sector’s crucial role in driving economic growth.
ETNO Mining Company and Partnership
The facility was established through a partnership between ETNO Mining Company, a subsidiary of Scandinavian-based Akobo Minerals, and the Ethiopian government. This collaboration aims to leverage modern technology and expertise to overcome the inefficiencies of traditional mining methods, ensuring a more efficient production process.
Growth Targets for Gold Mining
Ethiopia’s Minister of Mines and Petroleum, Million Mathewos, outlined the ministry’s growth plans for the sector. Revenue from the gold mining industry is projected to reach $800 million in the 2017 fiscal year. The construction of three new gold mining facilities is expected to play a critical role in achieving this target.
Ethiopia’s fiscal year runs from July 8, 2024, to July 7, 2025. These new facilities aim to enhance production capacity and promote the more effective utilization of the country’s natural resources.
The new mining facility in Dima marks a significant step in Ethiopia’s efforts to modernize and expand its gold sector. It is expected to not only boost the country’s economy but also reduce waste from traditional mining practices, paving the way for a more sustainable production process.
