Value-added minerals prioritized to maximize Ethiopia’s export earnings: Mines Minister

Addis Ababa, June 21, 2024 (FBC) – Mines Minister Habtamu Tegegn underscored that Ethiopia has given greater attention to value-added minerals to maximize foreign currency in revenue.

The minister has paid a working visit to witness activities of the world precious minerals association in Ethiopia as well as orbit Ethiopia’s engagement on value-added precious mineral outputs.

During the visit, the minister witnessed technological capabilities which the two institutions are employing and their human resources training activities.

Following his visit, Habtamu told ENA that despite the potential of the mining sector to the economic growth of the country and the improvement of the society’s life is immense, its contribution has not been yet significant.

The neglected Ethiopia’s mining sector has currently become one of the critical economic sectors of the country in the ten-year development plan.

The Government has envisaged an increasingly important role for the sector in the economy with the major objectives to increase mineral exports and to develop substitutes for mineral imports, it was indicated.

As value-added exports represent one of the most promising sources of revenues, he indicated Ethiopia has given greater attention for value-added mineral exports.

As part of the government’s special attention to the mining sector, the minister stated that promoting value-added minerals is imperative to offer better products to the global market

He pointed out that the world precious minerals association is training entrepreneurs in the mining and mineral spheres in Ethiopia, adding that this will greatly contribute to the endeavors of expanding the sector as well as increasing  the export revenue.

Additionally, Orbit Ethiopia, a company that has been in the sector for many years, is helping Ethiopia earn a significant foreign currency, Habtamu indicated.

Ethiopia is also formulating a regulation to prevent the export of mineral resources without value adding in the mining sector, the minister indicated.

Accordingly, he called on all stakeholders to exert a maximum effort to boost incomes from the untapped mining sector.

World Precious Minerals Association African Director, Mehalet Sisay the association is working hard to produce skilled workforces who can add value to Ethiopia’s precious mineral exports.

Accordingly, she indicated some 12 gemologists who have received training on value adding to precious minerals, are anticipated to  graduate.

This would have great importance in terms of making the precious minerals generate foreign exchange in Ethiopia, Mahlet revealed.

On his part, Owner and Manager of Orbit Ethiopia PLC, Tewodros Ntayehu said that his company has a fifteen-year of experience in the value adding and exporting of precious minerals.

Acknowledging the government’s priority to the mining sector, the manager stressed the need for transforming the sector into industrial level, he said, adding that it will create employment opportunities for many people.