Goldminers Archives - Ethio Negari

29 May

Ethiopia Security Fails to Control Illicit Gold Trade

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, EthioNegari, Ethiopia, Ethiopianews, Export, Goldexport, Goldminers

Ethiopia had ambitious plans to generate $363 million from gold mining over the past nine months. However, only 67 percent of this target has been met. The Ministry of Mines identifies illegal gold trading as the primary obstacle, despite efforts by the Defense Command Post and the National Intelligence and Security Service to curb it. Illegal trading, smuggling, and security issues have significantly hindered the industry. Only three tons of gold have reached the National Bank in the past nine months, which is just 50 percent of the planned amount. In March, the National Bank received a mere 350 kg…

Ethiopia grants license to two gold mining companies

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, EthioNegari, Ethiopia, Golddealers, Goldminers, Mininginethiopia

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…

Ethiopia arrests 90 foreign illegal miners

ethionegari@gmail.com0 CommentsBusiness, Fact check, News, PoliticsAddisAbaba, EthioNegari, Ethiopia, gold, Goldminers, illegalgold, illegalmarket, Illicittrade

According to federal government press release, citizens of different countries are engaged due to illegal mining in Ethiopia. The Government Communication Service has stated that, 45 foreign nationals have been arrested in Gambella region for illegal mining including gold. In a press statement given by the state minister of Communication Services, Selamawit Kassa, that 3 Ethiopians collaborators were also arrested in the region. Similarly, in Benshangul Gumuz region, 47 foreigners were arrested for illegal mining, including gold, while 9 private associations and 7 Ethiopians were also arrested. In a recent operation, a total of 92 foreigners and other Ethiopians have…