
ADDIS ABABA – Oromia Mineral Development Authority revealed the plan to increase the gold production and to supply up to 5000 kg to the Central Bank this Ethiopian fiscal year.
Approached by the Ethiopian Press Agency (EPA), Authority Head BezuWakebeka said consolidated efforts are underway to increase gold production and the amount that the state is supplied to the Central Bank.
During the past fiscal year, the authority earned over 469 million Birr from minerals which surpassed that of the previous year same period by 30 percent.
The authority has been taking bold steps to boost the mine sector’s revenue in the current year and it issued a license for 1, 557 investors and associations that have been engaged in gold production. Traditional miners take a lion’s share in the figure.
The head further noted that mining activity in the state has been impacted by smugglers and illegal activities. To avert the situation, the authority has been carrying out consolidated efforts to bring individuals involved in illegal activities to justice.
Accordingly, some 14 individuals were arrested on suspicion of mines smuggling and the authority’s engagement has enabled it to increase the amount of gold production in the state. Alone in July and August, the authority provided 405 kg of gold to the national bank of Ethiopia (NBE).
In addition to increasing production and supply, the authority is working to overcome illegal activities and smuggling in the mining industry. “Hence, we are taking a number of steps to attract investors in the mining sector and attempting to strengthen legal structure,” Bezu remarked.
BY TSEAGYE TILAHUN
THE ETHIOPIAN HERALD SUNDAY EDITION 17 SEPTEMBER 2023