ADDIS ABABA– The newly- established Mining Association said it has been closely working with the government to incentivize private businesses in the mining sector, mentioning the incumbent’s support for its operationalization.
Association Deputy President Abera Mamo told mining investors at the second MINTEX Expo that they are anticipating investor’s active engagement that would make the sector more profitable and competitive. “Compared with the potential, the amount of profit which mining investors have been obtaining is low and the association would coordinate efforts to produce value-added products that could maximize profit.”
“Now, we are operational and the government has also extended due support in this regard. Any company that works in the mining sector can join the association and can access incentives.”
Abera further noted that financial loans, investment land, and technical support would be provided for association members. He also invited nonmembers to join the association so as to benefit from incentives which are induced by the government.
Setbacks which miners have been facing in the operation phase could not be resolved by exclusive efforts of gold and some specialized associations. Instead, the Mining Association will act as an umbrella of all associations to deal with the sector’s pressing challenges notably technological and financial shortages.
“The establishment of the Association comes after deep analysis of challenges,” the deputy director noted,adding that the association would be engaged in promoting the mining sector, value addition, consultancy, and supporting its members.
Ethiopian Gem and Jewelry Traders Association President Tewodros Sintayehu also said that the Ethiopian economy is receiving least income from the mining which is unmatched to the potential. “So, all stakeholders should cooperate to make the desirable profit.”
“Exporting raw materials will no longer be a feasible option and we should focus on importing or producing mining machines. Owing to our inability to produce value added products, we are losing huge market opportunities, he emphasized.
BY YESUF ENDRIS
THE ETHIOPIAN HERALD TUESDAY 28 NOVEMBER 2023
