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    Status of The Mineral Sector Investment in Ethiopia

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    Yabs
    The Ethiopian government aims to establish a competitive mining industry that contributes 10% of GDP over 15-20 years. The Ministry of Mines and Energy regulates mining and the Geological Survey generates geoscience data. Over $1.1 billion has been invested since the 1990s, mostly from foreign investors developing precious and industrial minerals. Major mining stakeholders include the Ethiopian Mineral Development Share Company, Ezana Mining Development, Midrock Gold, and the National Mining Corporation.

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    Status of The Mineral Sector Investment in Ethiopia

    Uploaded by

    Yabs
    2K views2 pages
    The Ethiopian government aims to establish a competitive mining industry that contributes 10% of GDP over 15-20 years. The Ministry of Mines and Energy regulates mining and the Geological Survey generates geoscience data. Over $1.1 billion has been invested since the 1990s, mostly from foreign investors developing precious and industrial minerals. Major mining stakeholders include the Ethiopian Mineral Development Share Company, Ezana Mining Development, Midrock Gold, and the National Mining Corporation.

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    Status of the mineral sector investment in Ethiopia

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    The Ethiopian government aims to establish a competitive mining industry that contributes 10% of GDP over 15-20 years. The Ministry of Mines and Energy regulates mining and the Geological Survey generates geoscience data. Over $1.1 billion has been invested since the 1990s, mostly from foreign investors developing precious and industrial minerals. Major mining stakeholders include the Ethiopian Mineral Development Share Company, Ezana Mining Development, Midrock Gold, and the National Mining Corporation.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    2K views2 pages

    Status of The Mineral Sector Investment in Ethiopia

    Uploaded by

    Yabs
    The Ethiopian government aims to establish a competitive mining industry that contributes 10% of GDP over 15-20 years. The Ministry of Mines and Energy regulates mining and the Geological Survey generates geoscience data. Over $1.1 billion has been invested since the 1990s, mostly from foreign investors developing precious and industrial minerals. Major mining stakeholders include the Ethiopian Mineral Development Share Company, Ezana Mining Development, Midrock Gold, and the National Mining Corporation.

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    Status of the mineral sector investment in Ethiopia

    The vision of the Ethiopian mining sector


    The vision for the coming 15 to 20 years for the Mineral Sector is to establish a
    diverse, world class, competitive and environmentally sound private sector led
    mining industry, based on transparent free market principles, contributing not
    less than 10% of the GDP thereby enhancing the socioeconomic development and
    eradication of poverty in Ethiopia.
    Executive institution of the mineral sector of Ethiopia
    Ministry of Mines and Energy of the Federal Democratic Republic of Ethiopia is
    representing the mining sector development of the country. While Ministry of
    Mines and Energy has duties and responsibilities in issuing licenses and regulating
    mineral and petroleum operations, the Ethiopian Geological Survey, an
    autonomous institution under the Ministry, is responsible to undertake basic
    geological mapping, mineral exploration and other related geological activities,
    and generate basic geosciences data. The Regional States Mines
    Bureaus/Agencies have also the mandate to issue and administer prospecting,
    exploration and, artisanal and small scale mining for national investors.

    Accordingly, various proclamations were enacted to attract investment, issue


    & regulate licenses & to bring sustainable development of the mineral industry;
     Mining proclamations for Hard Minerals:
     Mining proc.no.678/2010 (as amended)
     Mining Income Tax No.53/1993 (as amended)
     Mining Regulation no.182/1994 (as amended)
     Mining Proclamations for petroleum operations
     Petroleum Operations Proc.no.295/1986
     Petroleum operations income tax no.296/1986

    Main features and issues addressed in the proclamations include;


     Encourage private investment & guarantee the rights of investors
     Invite private investment in all kinds of minerals
     Guarantee the licensees right to sell the minerals produced locally or
    abroad
     Restrict the role of government to regulate, generate and
    disseminate/promote basic geo-science data
     Require environmental friendly operations
     25% Income Tax after allowable deductions of expenditures

    Encouraging foreign and local mineral development investments have been


    shown since late 1990's. The total investment amount registered by the private
    sector to date is about 1.1 Billion US Dollars where by 95 % percent of it is direct
    foreign investment for the development of precious and industrial minerals.
    The mining stakes in Ethiopia are held by:

    1. The Ethiopian Mineral Development Share Company (EMDSC)


     Established in 2000 GC;
     Engaged in all mining activities in the country.
    2. The Ezana Mining Development
     Functioning since 1993;
     It’s a privately owned Ethiopian enterprise in consulting in all
    aspects related to mining.
    3. The Midrock Gold
     Operates at Shakisso town in southern Ethiopia;
     Involved in gold mining (production of 3500 kg of gold per year
    extracting 50,000 tons of rock per month).
    4. National Mining Corporation
     Set up in 1993;
     A private company involved in all facets of mineral and petroleum
    product production including by products.

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