Ethiopia's mining sector has exceeded export targets, generating over $1 billion in revenue during the past six months, the Ministry of Mines announced. State Minister Million Mathewos stated that this surpasses the planned $376 million by 278 percent. This revenue includes the delivery of approximately 16.9 tons of gold to the National Bank of Ethiopia.
While initial export targets included tantalum, opal, ornamentals, limestone, lithium ore, and industrial minerals, actual exports significantly exceeded projections, with over 105 tons of tantalum and 2,071 tons of lithium exported, among other minerals according to EPA.
Although ornamental and other mineral exports fell slightly short of their targets (achieving 73% of the planned $22.4 million), the overall success is attributed to macroeconomic reforms and a crackdown on illegal mining activities, including the establishment of new mining trading centers. The sector also created over 102,000 jobs in the past six months.