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Natural Placer Gold
Investment opportunities in Ethiopia's mining sector
About Ethiopia:
The country Ethiopia is spread across 1.1 million sq km area .It has population of about 80 million. Ethiopia has created a conducive environment to ensure and promote private investment in the mining sector, which has the potential to play a big role in the development of the national economy.
Position of natural resources of Ethiopia;
Ethiopia's natural resources remain widely unexplored. Even though the country is believed to have wide mineral potential, the contribution of the mining sector to the national economy has so far reached a maximum of 6%. In the country, over 80% of the population is engaged on Agriculture and related activities.
Percentage of mining sector in the GDP;
According to information from the Ministry of finance and Economic Development, the contribution of the mining sector to the GDP before 1990's was less than one percent; however, there is statistically worked out data from the ministry that the mining sector contributed 5.8% and 5.5% during the fiscal year 2007/8 and 2008/2009, respectively.
Positive attitude of the government for private partners:
The government of the country is also committed to assist all developmental partners interested to take part in the investment of the mining sector.
The goal of the Government of Ethiopia is to facilitate the establishment of a large and diverse minerals industry in Ethiopia, which would underpin industrial development in the country, the well being and employment of Ethiopian citizens in line with gender equality principle, the earning of foreign exchange and the reduction of poverty, and the establishment of a vibrant and profitable private sector based mining industry, inclusive of mineral beneficiation, taking all aspects of the sustainable utilization of the Mineral resources.
The government of the country is focusing,
- on creating the necessary enabling legal, regulatory, fiscal and institutional environment for the private sector investment in mining
- Carrying out promotional activities to attract private investment in the mineral sector,
- Strengthening its ability to effectively carry out its regulatory functions, Conducting basic geological mapping and maintaining up-to date mineral resource data base,
- Providing extension services to artisanal and small-scale miners with a view to ensuring safe and environmental sound mining practices
- Facilitating the development of adequate infrastructure for the mining development.
Number of foreign mining firms ;
About 84 local and foreign mining firms are currently carrying out mineral exploration and mining operations in different parts of the country. The scale of exploration and mining operations, however, are very low despite the favorable geological environment for mineral potentials.
Availability of various mineral resources:
The mineral and petroleum explorations conducted so far on limited parts of the country have come up with significant discoveries and reserves of gold, platinum, tantalum, potash, phosphorus, iron, salt, coal, geothermal a Gold, marble, limestone, and small amounts of tantalum are among the major natural resources mined so far in Ethiopia.
Of these minerals, gold provided US$12.5 million to the economy in 1996, and is expected to generate a total of 1.6 billion USD up to 2020and natural gas in different parts of the country.
- Around 376 million tons coal reserve is estimated in Ethiopia. The coal deposits range from lignite to bituminous. The country has the potential to generate more than 5,000 Mw from its geothermal energy resource where only 7.3 Mw power is being produced at a pilot plant.
Active role of Turkey;
Turkey is now planning to join the mining and energy development.
Recently Turkish business delegation led by Turkish Minister of transport, Binali Yyidrym, visited the Ethiopian Ministry of Mines and Energy and held a meeting with senior officials of the ministry.
The delegation was briefed by Alemayehu Tegenu, Minister of MME, about the investment opportunities in the mining and energy sector. The Minister discussed with the delegation about the precious and industrial mineral resources and the immense hydro-power potential Ethiopia has.
Exports from the country to Turkey:
Ethiopia mainly exports sesame and leather to Turkey while Turkey exports steel and steel products, electronics and other industrial products. The number of Turkish companies, particularly those dealing in textile and garments, investing in Ethiopia is increasing.
From January-June 2008 alone, some 19 Turkish companies with an aggregate capital of 3.79 billion birr (around $379 million) have received licenses to engage in business in Ethiopia.
In addition, several foreign companies have signed exploration of natural gas and product sharing agreement with the Ethiopian Ministry of Mines and Energy and are currently drilling wells in different parts of the country.
Sedimentary formation in the country:
The geology of Ethiopia ranges from oldest (Precambrian) to recent volcanic and sedimentary formation. The oldest (Precambrian) rocks host most of the economic metallic mineral deposits that include primary and secondary enriched (placer) gold, platinum, platinum group elements (PGE), nickel, tantalum, base metals (like copper, lead and Zinc), industrial minerals (like phosphate, iron ore), gemstones (like ruby, emerald, sapphire, garnet, etc) and also decorative and dimension stones such as marble, granite and other colored stones.
The sedimentary (Mesozoic) rocks also host, other than the natural fuel minerals (oil, gas, oil shale, coal, etc.), some other metallic ores like malachite, manganese, gypsiferous minerals as well as enormous construction and cement raw materials resources. The volcanics and sedimentary rocks of the recent age (Cenozoic) host most world class industrial minerals such as potash, rock salt, bentonite, soda ash, diatomite, opalized stones and numerous types of construction and cement raw materials.
So far developed large scale gold mine in the country is the Lege-dembi gold mine, located in the southern greenstone belt region, being operated by private company with estimated reserve of 82 tons and an average annual production of 3.6 tons of gold.
There is also small scale open pit mine of columbo-tantalite at Kenticha in the Adola belt. The deposit is both a weathered crust ore (the top 60 meters) with proven reserve of 2400 tons of tantalum pentaoxide and 2300 tons of niobium pentaoxide, and primary ore with proved reserve of 2393 ton Ta2O5 and 2362.5 ton Nb2O5. The Mine has been operating since 1990 with a pilot plant 3 producing about 20 tons per year. At present it is producing over 190 tons of tantalite concentrate of tantalite colombite ore per annum.
Secondary enriched (placer) gold has been mined traditionally (artisanal) for years back to biblical times. Formalization of the artisanal miners has been strengthened since the early 2000's that about 1000 Kg of gold is purchased from the local miners and dealers by the National bank of Ethiopia that in turn increases in generation of foreign currency.
Soda ash is being mined at Lake Abiyata in the rift valley about 200 kilometres south of the capital.The reserve at Lake Abiyata and the surrounding lakes exceeds 460 million tons of sodium carbonate at salt concentration ranging from 1.1 to 1.9%. The plant is producing about 5,000 tons soda ash per year at semi industrial scale. The consumers of the soda ash are local caustic soda factory, soap and detergent manufacturers.
Kaolin, quartz and feldspar are also being mined from the Adola belt in southern Ethiopia by government enterprise. The consumers of the products are the Awash-Melkasa Aluminium Sulphate and Sulfuric Acid Factory and the Tabor Ceramics Factory.
Silica sand is also being mined and utilized by local industries. The cement factories of the country are using high quality limestone, clay, gypsum and pumice as a raw material for cement production.
There is also large input of construction minerals such as sand, gravel, scoria, crushed stones, aggregates, pumice, scoria, etc to the construction industry (including buildings, roads, dams, bridges etc.)
Other mineral products including platinum from laterite, industrial minerals, gemstones (opal, peridot and other precious stones) and decorative and construction materials are also produced by licensed foreign and local mining companies in the southern, western, central and northern regions of the country.
There are also some other advanced stage primary gold exploration and development activities in different parts of the country which so far has identified close to 100 tons of indicated reserve of gold and other precious metals.
Future vision of the country:
The vision for the coming 15 to 20 years for the Mineral Sector is to establish a diverse, world-class, competitive and environmentally sound private sector led mining industry, based on transparent free market principles, contributing not less than 10% of the GDP thereby enhancing the socioeconomic development and eradication of poverty in Ethiopia.
Ministry of Mines and Energy of the Federal Democratic Republic of Ethiopia is representing the mining sector development of the country. While Ministry of Mines and Energy has duties and responsibilities in issuing licenses and regulating mineral and petroleum operations, the Ethiopian Geological Survey, an autonomous institution under the Ministry, is responsible to undertake basic geological mapping, mineral exploration and other related geological activities, and generate basic geosciences data. The Regional States Mines Bureaus/Agencies have also the mandate to issue and administer prospecting, exploration and, artisanal and small scale mining for national investors.
Major changes after 1991:
As a result of the political change that took place in 1991, a new market oriented economic policy was introduced in the country. In the mining sector, the government promulgated a new mining proclamation and mining income tax proclamations to encourage the participation of private capital in mineral prospecting, exploration and development activity.
The Mining Proclamation No. 52/1993, Mining Regulations No. 182/1994 and Income Tax proclamations No. 53/1993 were issued to attract private investment. The proclamations were consecutively amended so as to be competitive internationally and in favor of the investors.
The major issues addressed in the legislations are:-
- they invite private investment in all kinds of mineral operations,
- Provide exclusive license right ( a one-year prospecting license, three years exploration licenses, with two renewals of one year each, and mining license for ten or twenty years with unlimited renewals of 10 years each),
- require adequate health and safety of employees and environmental protection and environmental impact study depending on type and nature of a 5 project,
- guarantee the licensee's right to sell the minerals locally or abroad, provide exemption from customs duties and taxes on equipment, machinery and vehicles necessary for any mineral operations,
- guarantees the opening and operation of a foreign currency account in Ethiopia and retention of portion of foreign currency earning and remittance of profits, dividends, principal and interest on a foreign loan etc. out of Ethiopia,
- require relatively low royalties of 2 % (Mineral water and construction materials) to 5% (for precious stones) ad valorem on production site, dispute settlement through negotiation and international arbitration,
- And provide loss carry forward for ten years.
The 2008 new mining policy of Ethiopia has also been prepared and the final draft is sent to the Council of Ministers for approval and following the approval of this policy it is intended to introduce some up to date concepts in the provisions mining legislations soon after.
The Mining laws of Ethiopia have been issued in 1993 and amended recently, in 1998 that they invite private sector investment and believed to be competitive and attractive as compared to other developing countries mining codes.
Subsequent to the Mining code, the mining regulation was also issued in 1994 and makes all licensing and administration procedures as transparent as possible. Encouraging foreign and local mineral development investments have been shown since late 1990's.
The total investment amount registered by the private sector to date is about 1.1 Billion US Dollars where by 95 % percent of it is direct foreign investment for the development of precious and industrial minerals.
Presently a number of junior exploration and world class mining companies are operating in Ethiopia for different mineral commodities. Apart from these there are wide ranges of future investment opportunities found in Ethiopia that hope to be of mutual benefit to the investors.
Currently the Ministry of Mines and Energy is working in two major strategic plans in the mineral sector for the period 2005-2010.
i)Assessing most of the country's landmass and acquiring/generating basic geo-science data (different scale geological, geochemical, hydro geological geo-technical etc maps, Minerals exploration data, etc), which is being carried out by the Geological survey, qualifies to the standard and enables to provide basic information to all users including potential investors.
ii) Strengthening competitive and enabling mineral sector investment environment so as to increase the benefit from the sector. Identifying the various constraints that hinder mineral operations investment in the country and taking appropriate measures such as issuance of the mineral policy, implementation of mineral license cadastre, facilitating artisanal and small scale mineral development and marketing condition in order to create conducive investment environment by considering all aspects of capacity building implementations in to focus areas to the best of the institutions.
Roads, electric power from national grid and telecommunication infrastructures have been developed and/or upgraded due to the development of Gold, tantalum, salt and other major mining projects in different parts of the country. Different level of health service centers, schools as well as airstrips were built by the developers of the mine that provides service to the local community as well as the employees of the mining community.
Requirements under mining legislation:
The mining legislation of Ethiopia, which came in to effect in 1993 has provision that requires as compulsory criteria to study, submit and get approval of Environmental Impact Assessment from the respective Authority in order to develop large scale mining project.
The common environmental issues in Ethiopia to be considered in development of the medium to large scale mining projects are the surface and ground water system, the physical land management (soil, rock stability, deforestation grass land, farm land, etc), spillage of strange chemicals/metals, air, noise, dust, aesthetic values of the area, cultural and tourist heritages, the communities as well as all other lives surround the mine proximity.
Ethiopia plans to increase mining revenue by ten-fold
Ethiopia envisaged to increase the revenue secured from export of mine products by ten-fold to the extent of two billion US dollars at the end of the five-year plan, the Minister, Sinknesh Ejigu said at a relevant workshop held here. Various activities have been undertaken to increase the revenue the nation secured from the sector.
According to ministry, 187 projects with a combined capital over 13 billion Birr are operating in the country and the nation has managed to secure 108 million US dollars from the sector during the previous Ethiopian budget year.
Further Over 3,100-kg of gold was supplied to the National Bank of Ethiopia during the last seven months, which is a 142 percent increase compared last year's same period.
About the Author
Professor of Finance, Hawassa University,Hawassa,Ethiopia
Former professor,Kakatiya university,Warangal,A.P India
Former district coordinator,A.P.Productivity council,Hyderabad,
former Vice Chairman/director,Bhadradri Bank,Khammam,A.P.India
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