Ethiopia’s mining sector has undertaken a major reform program in recent years.
As part of this, the Government launched the construction of a minerals exhibition center to display the known occurrences of impressive mineral resources of the country.
According to official sources, apart from gold, there are about 30 metallic industrial, agro, and construction minerals as well as rare gemstones in Ethiopia. Beautiful gemstones are loved and admired across the globe, and Ethiopia has them in abundance. This includes opal, emerald, sapphire, amazonite, amber, ruby, tourmaline, aquamarine, chrysoprase, peridot, and various types of quartz, agate, and jasper.
The Government of Ethiopia Homegrown Economic Reform Agenda set out several reform initiatives in the mining sector in order to enable the country to reach the status of a middle-income country by 2030. This ambitions mining sector goals set to reach by 2030 from 2020 are:
- Amount of foreign exchange earned through export and import substitution increasing from US $265 million to US $17 billion.
- Amount of local income earned from the sector increasing from US $400 million to US $90 billion.
- Number of FDI companies in the sector increasing from US $160 million to US $500 million.
- Number of quality jobs created in the sector organisations, companies and SMEs increasing from 200,000 to 1.6 million.
Ethiopia’s National Plan for Job Creation (2020–2025) targets mining as a key sector to achieve its goal to create 14 million jobs by 2025, to absorb the currently unemployed, and to ensure that jobs are waiting for new entrants to the labor market.
According to Ethiopia’s Minister of Mines, Takele Uma, Ethiopia was able to earn USD 241 million from mineral Exports, mainly from gold export in the last five months.
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