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[Apr 2017] Gold Mining in Ethiopia Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Stella Trade and Industry Joins Ethiopia’s Gold Extractors

Stella Trade and Industry PLC has joined the league of four gold extractors operating in Ethiopia, after securing a large-scale gold mining license. This is a first for the company, as well as the host region of Gambella.

While more than 80 companies are in the process of exploration, only four have obtained extraction licenses, according to this year’s publication by Ethiopia Extractive Industries Transparency Initiative (EEITI).

Established a decade ago with a 50.2 million Br capital from its Ethiopian and Kenyan

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New Gold Miners Make 140.6m Br Investment

Two small scale mining companies are seeking gold and silver extraction licences to join the multi-billion Birr sector now dominated by MIDROC Gold.
These companies, Letto and Lozbez, completed their exploration work and submitted their feasibility studies to the Ministry of Mines (MoM) in September.
During the five years of the first Growth and Transformation Plan (GTP I), MIDROC Gold and artisanal miners had mined 26,547g and 43,434g of gold, according to MoM’s GTP I report. The government collects five per cent royalty

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