Ethiopia has earned around 505 million U.S. dollars from the gold mining sector in the first 10 months of the current Ethiopian Fiscal Year that started on July 8, 2020, state media outlet Ethiopia Broadcasting Corporation (EBC) reported on Tuesday.
The east African country earned around 505 million U.S. dollars from the exports of 6,785 kg of gold during the first 10 months of the current 2020/21 fiscal year, EBC reported, quoting data from the Ethiopia Ministry of Mines and Petroleum.
“The mining sector has also created job opportunities for more than 93,000 citizens,” it reported.
Ethiopia has already established several gold trading centers as it seeks to boost its income from the mining sector and at the same time reduce contraband mining trade.
The country has also undertaken a mass sensitization campaign that includes all relevant stakeholders to combat contraband mining activities that have been partly blamed for Ethiopia achieving low mining revenues in previous years.
Among the mass sensitization campaigns undertaken is the push to bring artisanal miners into the formal mining market.
With these measures put in place, Ethiopia’s gold mining sector has become one of the best organized and well managed in the continent and a major source of its revenue.