Ethiopian Ministry of Mines and Petroleum today granted mineral exploration and production licenses to 12 mining companies.
According to press release sent to ENA, the agreements include two mining and 10 exploration licenses that would enable the companies to produce and explore various minerals in Ethiopia.
State Minister of Mines and Petroleum, Simegn Wube on Wednesday signed the agreements with Chief Executives of the mining companies.
Thus, the mining companies will engage in the exploration of sediment gold, gold, iron, manganese, chromites, silver and gemstone while the two firms licensed for the production of basalt and marble minerals, it added.
The mining firms have allocated more than 402 million birr cumulative capital for the exploration projects to be carried out in the next three years and will create 480 jobs.
The Ministry noted that the exploration licenses would be valid for three years with possible extension upon the requests of the companies if the ministry accepts the proposal for renewal.
The mining companies should also work on environmental protection and ensure the local communities benefit from the mining projects, it added.