(ADDIS ABABA, June 19 (BERNAMA-NNN-ENA)--Ethiopia has earned more than
US$368 million from the sale of gold produced through traditional
methods of excavation during the first ten months of the current
Ethiopian fiscal year which ends July 7, according to the Ministry of
Mines here.
The ministry's Public Relations Director, Bacha Fuji, told the
Ethiopian News Agency (ENA) Monday that the amount came from the sale of
more than 6,700 kg gold to the National Bank of Ethiopia and
represented an increased of US$125.1 million compared with the the
previous corresponding period.
He said the amount also represent 89 per cent of the target set for the whole year, which is US$427 million. According to Bacha, price instability in the global market and the low awareness of suppliers, among others, caused the decrease. Amhara, Benishangul-Gumuz, Oromia, Tigray and South Ethiopia Peoples' States were the sources for the gold.
The ministry is working in collaboration with stakeholders to prevent illegal gold trading and increase the share of traditionally excavated gold to the national economy.
Source: Bernama - Malaysian National News Agency
The ministry's Public Relations Director, Bacha Fuji, told the
Ethiopian News Agency (ENA) Monday that the amount came from the sale of
more than 6,700 kg gold to the National Bank of Ethiopia and
represented an increased of US$125.1 million compared with the the
previous corresponding period.He said the amount also represent 89 per cent of the target set for the whole year, which is US$427 million. According to Bacha, price instability in the global market and the low awareness of suppliers, among others, caused the decrease. Amhara, Benishangul-Gumuz, Oromia, Tigray and South Ethiopia Peoples' States were the sources for the gold.
The ministry is working in collaboration with stakeholders to prevent illegal gold trading and increase the share of traditionally excavated gold to the national economy.
Source: Bernama - Malaysian National News Agency
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