Addis Ababa, April 20/2023, Ethio Negari:- Two indigenous companies have been granted permits for high-grade alluvial gold production.
The Ministry of Mines has announced that, two companies have been granted licenses to produce high-grade alluvial gold.
The licensees are indigenous companies named BEAKA Total Business and Ilnet Technology Group.
“BEAKA” has been licensed in Majang Zone, Mangsh District of Gambella Region and more than 138 million Birr has been allocated for the project.
This company will produce 911 thousand kg of gold in the coming four years.
The other licensed institution is “ILNET TECHNOLOGY GROUP” to produce gold in Benishangul Gumuz Region, Assosa Zone, Assosa and Hudulu Districts.
The company has announced that, more than 148 million birr has been allocated for the project.
The term of the permit will last for ten years and the company’s pre gold production projects will be completed within three months.The company has agreed to produce 440 kg of gold in the next four years.
Prime Minister Abiy Ahmed told members of the House of Representatives two weeks ago that, the income from gold trade in Ethiopia has been increasing over the years, but this year the income has decreased due to illegal trade.
