Ministry grants licenses to high-grade alluvial gold mining companies

Addis Ababa, April 19, 2023 (FBC) – The Ministry of Mines has granted licenses to two domestic companies to produce high grade alluvial gold.

BEAKA Total Trading PLC is registered in Ethiopia and established by Ethiopian investors and is licensed to engage in alluvial gold production.

The company was granted a production license by the Gambella National Regional Government, Majang Zone, Mangish woreda. It is stated that more than 138 million 643 thousand Birr has been allocated for the project.

It is noted that the license will be valid for four years and within two months the construction of the factory will be completed and production will begin.

It is stated that this firm will produce 911 thousand 697 kilograms of gold in the next 4 years and will create permanent employment opportunities for more than 40 Ethiopians.

Another company that applied and was licensed to engage in alluvial gold production is L-Net Technology Group Plc. It is a private company registered in Ethiopia and founded by Ethiopian investors.

The company has been given production license in Benishangul Gumuz region, Assosa zone, Assosa and Hudulu woredas. It is stated that the company has allocated more than 148 million 225 thousand birr for the project.

According to the Ministry of Mines, the term of the license is ten years and the construction of the factory will be completed within three months.

It is said that company will produce 440.58 kilograms of gold in the next 4 years and will create permanent employment opportunities for more than 30 Ethiopians.

The Minister of Mines, Habtamu Tegegn and the managers of the companies signed the license agreement.