Mining in Ethiopia Could Be a $5 Billion Industry

According to a report from Ventures Africa, Ethiopia could be sitting on a rather large economic opportunity. A 2013 study indicated that the mining sector – including tantalum deposits in that country – could be worth as much as $5 billion.

As quoted in the publication:

Already, according to Mines Minister Tolosa Shagi, Ethiopia had already realized more than $2.3 billion from the exports of gold, tantalum, opal, marble and other minerals over the past four years, and returns should double with more investment in the sector.

In 2013, the Ethiopian government collaborating with the World Bank commissioned a report titled “Strategic Assessment of the Ethiopian Mineral Sector,” results from which, also validated by private companies and geological surveys, states clearly that the East African country had a wide range of possibilities for the exploitation of mineral deposits.

Mines Minister Tolosa Shagi said:

Exploratory activities conducted to date in limited parts of the country indicate that Ethiopia is endowed with a favourable geological environment that hosts a wide range of mineral and geo-energy potential. More than 130 companies are working in solid minerals operations and oil and gas activities in Ethiopia. However, there is still a need to develop adequate transport and accountability systems to ensure that the development and management of resources is conducted effectively.

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