Ethiopian gold export generates $600m in 2021 before counts are concluded by July 07.

July 7, 2021

Gold is a very lucrative business for those who utilize their mining prowess. In 2020, an average of 45kgs was all that was mined from some regions of the country.

It is recalled that last year concluded July 7, 2020, Ethiopia has earned a total of $145.1 million from gold export. Compared to this year’s $600 million last year’s gather is quadrupled.

According to Prime Minister Abiy Ahmed, the country’s hard currency profits are at an all-time high when compared to the previous year’s earnings. He made the remark in response to a question from a member of parliament.

“In a traditional way (artisan miners) in some regions, which used to produce 40 to 50 kilograms, have increased their production to 1,000 kilograms this year. They haven’t used any new technology. They used only human resources and good management,” he said, indicating that gold has generated $600 million next to coffee.

“We have never exported that much…But the potential for further growth is there,” he said indicating the job opportunities the industry (gold mining) can create and the potential for increased revenue for the country.

You May Also Like…

[et_pb_blog_extras posts_number=”6″ show_more=”off” show_author=”off” show_categories=”off” show_comments=”off” _builder_version=”4.14.2″ _module_preset=”default” header_level=”h3″ header_font=”Averta Black||||||||” global_colors_info=”{}”][/et_pb_blog_extras]