ADDIS ABABA— Ministry of Mines and Petroleum said that it has finalized preparation to establish Mining Council to further strengthening the sector.
Ministry’s Public Relation and Communication Directorate Director Michael Mengehsa said that Ethiopia has extensive mining potential of placer gold from alluvial deposits where significant large scale mining efforts not yet actualized for various reasons.
As to the Director, the untapped potential to secure hard currency and create meaningful job opportunities from the sector has not yet well harnessed due to limitations in biding strategic directives, failure to collaborate among stakes and limited engagement of actors. Mentioning that the Mining sector has secured 116.356 million USD incomes in the preceding year; he said this has been made possible from the mines collected by companies and artesian.
However, the figure shows as a lot should be done in production process and marketing in bid to secure high yield of mines, he added. Challenges associated with gaps in leadership from the top management to the lower structure, mal administration along with others are attributed to sector’s poor performance, he added The Ministry is working to establish a Mining Council mandated with shaping legal procedures in the sector, adjusting sound marketing chains so as to curb existing drawbacks in the sector.
It is also expected to subdue all these bottlenecks, letting the stakes focus on national strategies and directions, he added. Nation has set plan to increase the revenue collected from the sector by tenfold. Far from that, to this effect, the Council will play vital role in curbing the illegal contraband market chains in the sector and boost sector’s contribution to nation’s economy, as he stated.
The Council also seeks ways to achieve a careful balance between the requirements needed to create a stable, investor-friendly mining destination, and a sustainable industry that responds to the needs of the economy, creating jobs, and meaningful contribution to the national revenue.
The Ethiopian Herald, December 5/2018
BY MENGISTEAB TESHOME
