Ethiopia — the ideal high-potential mining destination
Ethiopia represents an attractive investment opportunity for investors in the Mining sector
Investment in mining is a high priority in Ethiopia. According to Ethiopia’s 10-year Development Plan, the mining sector is considered as one of the strategic pillars of Ethiopia’s economic growth over the next ten years. It is projected to grow by 33% annually, becoming a backbone of agriculture and a catalyst for industrial growth, job creation and export earnings.
Ethiopia has vast mineral potential. It has known reserves of more than 30 metallic, industrial, agro- and construction minerals – in addition to gold, rare gemstones, oil and gas. Ethiopia is also home to one of the oldest geological surveys on the continent, the Geological Survey of Ethiopia (GSE). Data provided by the GSE make both exploration and the acquisition of brownfield projects easier for investors. In addition, Ethiopia currently spends more than USD 8 billion each year to import coal, iron, fertilizer, marble and granite, chlor-alkali products, ceramics and petroleum; existing import-substitution opportunities offer investors access to a growing market for locally mined resourced and a strong export potential.
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