The Benishangul Gumuz Regional State has achieved a milestone in gold production, depositing 548 kilograms of gold into the National Bank of Ethiopia (NBE) in the first quarter of this fiscal year. This figure not only exceeds the region’s quarterly target of 413 kilograms but also doubles last year’s total annual deposit of 274 kilograms.
Admasu Morka, head of the regional mining bureau, noted the NBE’s revision of gold purchase prices as a key factor, which has incentivized legal deposits and curbed illegal trade. The establishment of a task force to monitor and prevent smuggling has also contributed significantly to the increase.
Benishangul Gumuz, known for its gold-rich districts such as Asosa, Kemashi, and Metekel, is home to 421 licensed traditional and small-scale gold associations. Most of the gold deposited during the quarter came from these associations, though challenges remain. Seasonal rains have hindered some producers, and gaps in ensuring all mined gold reaches the NBE persist.
Admasu acknowledged ongoing issues with the illegal gold movement but emphasized that tighter monitoring and price adjustments have begun to address these challenges. “The government has made significant strides in controlling gold prices and ensuring proper deposits, but more work is needed to fully eliminate illegal activities,” he said.
Source: The Ethiopian Herald
