Addis Ababa, Ethiopia (20 April 2023)
Ethiopia’s mining sector is set to receive a boost as two domestic companies have been granted licenses to produce high-grade alluvial gold. The Ministry of Mines has approved licenses for BEAKA General Business PLC and L-Net Technology Group Plc, both registered and founded by Ethiopian investors. Below are the key highlights of the agreements.
BEAKA General Business PLC:
- Granted location: Gambella, Majang Zone, Mangish woreda.
- Allocated Budget: over 138 million 643 thousand Birr for the project.
- Expected Production: 911, 697 kilograms of gold in the next four years.
- License Term: valid for four years.
- Factory Construction: will be completed within two months.
- Permanent employment opportunities: over 40 Ethiopians.
L-Net Technology Group Plc:
- Granted location: Benishangul Gumuz region, Assosa zone, Assosa, and Hudulu woredas.
- Allocated Budget: over 148 million 225 thousand birr for the project.
- Expected Production: 440.58 kilograms of gold in the next four years.
- License Term: valid for ten years.
- Factory Construction: will be completed within three months.
- Permanent employment opportunities: over 30 Ethiopians.
Source: FBC
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