Ethiopia obtained 682 million US dollars from the mining industry

According to Simegn Wube, the State Minister for Mines and Petroleum, the money was generated from the extraction of gemstones including opal and tantalum as well as the supply of over 9,384 kg of gold to the National Bank of Ethiopia.

The Ministry of Mines and Petroleum said that Ethiopia received 682 million US dollars from the minerals and gemstones mining industries during the just-completed 2020–2021 fiscal year.

According to Simegn Wube, the State Minister for Mines and Petroleum, the money was generated from the extraction of gemstones including opal and tantalum as well as the supply of over 9,384 kg of gold to the National Bank of Ethiopia.

Simegn stated a target to earn more over $1 billion USD in the already-started fiscal year from gold mining alone.

She said that 37 possible locations for oil extraction have been identified, and seven licensed businesses are active in the industry around the country.

The State Minister further mentioned that work is being done to create 6.4 trillion.