Ethiopian Mining Company Finds The Largest Gold Deposits
Gold production in the Arabian Nubian Shield (ANS) dates to pre-historic times, with an estimated one-hundred million ounces mined (Molnar, 2019 and references there in). Today, gold is mined from the ANS in Egypt, Sudan, the Kingdom of Saudi Arabia, Eritrea and Ethiopia (Johnson et al., 2017).Jan 03, 2012 NMiC is one among several mining companies that the Ministry has granted concession rights to, such as Nyota Minerals (Ethiopia) Ltd and Sheba Exploration Ltd. The latest discovery will give NMiC the competitive edge in the mining industry, when it begins exploiting the 568,000kg gold reserves found in Dawa, Oromia, and Werri, Tigray, company.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 [ ].Dec 31, 2020 Ethiopia generated mining revenue of $303m in the past five months, according to the ministry of mines. That total is than six times the amount recorded – $49m – in the fiscal year 2018 2019. It is than what was earned last fiscal year, which was $207m. While gold accounts for over 90 of Ethiopia’s mining exports, the increase.