Ethiopia is working to develop the economic potential of mines

The Mining Minister said that the government’s comprehensive efforts have made the mining industry an engine of national economic growth, a reliable source of foreign exchange and employment.

economic potential of mines

In his opening address at the second Mining and Technology Expo, Mining Minister Habtamu Tegegn (UK) said the industry has the potential to attract significant foreign exchange to boost economic growth.

“It is impossible to sustain nation building and achieve economic growth without developing mining potential,” he noted, adding that the production of agricultural minerals and soil fertilizers will help Ethiopia ensure food self-sufficiency.

For exhibitors, such trade fairs are an important tool to demonstrate the huge economic potential of the industry. She said establishing market linkages for manufacturers and supporting the industry with professional research will help Ethiopia benefit more from its mining potential.

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Despite the opportunities, Ethiopia’s mining industry remains underdeveloped and faces several challenges. Against this backdrop, exhibitors cited limited supply of raw materials and foreign exchange shortages as pressing obstacles facing the industry.

More than 90 mining manufacturers and producers participated in the five-day show in Addis Ababa. Exhibitors showcased gold, minerals, industrial, construction and other types of minerals at the show.

Ethiopian Prime Minister Abiy Ahmed, who opened the expo, said on social media that Ethiopia is rich in mineral resources. “We must use this wealth effectively and pass it on to the next generation to build a better country.”

The Prime Minister also mentioned that the expo will showcase Ethiopia’s mining potential and encourage investment in the industry.

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