Work in progress to utilize mines potential in the region for national prosperity: Chief Administrator

Addis Ababa, October 25, 2022 (FBC) – Research-based work is in progress to utilize the potential of mines resource in Amhara region for national prosperity, Chief administrator of the Amhara region, Yilkal Kefale said.

Mining Investment Forum, jointly organized by the Ministry of Mines-Ethiopia and the Amhara Region Mines Development Bureau, has been opened in Bahir Dar city early on Tuesday.

The regional chief administrator said on the forum’s opening that the world’s powerful countries have realized their development by utilizing their domestic and international mineral resources.

Although it is known that there is a lot of mineral resources in Ethiopia, there is also a gap of researching and utilizing the resources available for the benefit of the country and its people.

However, following the national reform [in the last four years], mineral resources are one of the few economic sectors that have been given special attention, Yilkal added.

He said, “Encouraging results have been registered in the sector in Amhara region by researching the potential of mineral resources, identifying the size of the reserves and inviting investors to be engaged in it”, he said.

Yilkal noted that the sector is contributing to the country’s economic development, employment opportunity, replacing imported mineral products with local ones, and reducing the cost of foreign currency.

Haile Abebe, Head of the Amhara Regional Mines Development Bureau, for his part, stated, “Researches uncovered there are great potentials of mines in the region which are useful for construction, jewelry, alternative energy and others.”

The potentials of gold, opal, jasso stone, coal, iron ore and other minerals in the region attracted several investors, indicated the head of the regional mines bureau.

He further pointed out that by widely promoting the mining sector and attracting investors, work is being carried out to create employment opportunities and strengthen the region’s income.

According to Haile, the region will provide necessary support to local and foreign investors who wish to take advantage of the favorable conditions in the mining sector.

According to the report by ENA, the Minister of Mines and Petroleum, Takele Uma and other senior officials attended the opening of the forum and the exhibition in Bahir Dar city.