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Ethiopia earns over $560 million from gold exports in 2021/2022 fiscal year

FILE PHOTO: Ethiopia has reduced on illegal gold mining

Addis Ababa, Ethiopia | Xinhua | Ethiopia has earned more than 560 million U.S. dollars in revenue from gold exports during the last Ethiopian 2021/2022 fiscal year, which ended on July 7, an Ethiopian official said Wednesday.

State Minister of Ethiopia Ministry of Mines Thomas Tut said the bulk of gold exports were earned from mining activities in South-West, Oromia, Benishangul-Gumuz and Gambella regions.

Tut further said the ministry is helping the four Ethiopia regions with organizational and technological support to further benefit the public from the mining sector, reported the state-affiliated media outlet Fana Broadcasting Corporate (FBC).

In recent years, Ethiopia has undertaken a mass sensitization campaign to combat illegal mining activities that have been partly blamed for the east African country achieving unsatisfactory mining revenues in previous years.

The east African country has also made several key reforms in the mining sector in recent years to boost its revenue from the sector, including the establishment of several gold trading centers as Ethiopia seeks to boost its income from the sector and at the same time reduce illegal mining trade. ■

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