The Southwestern Ethiopian Peoples’ Regional State has delivered 150 kilograms of gold to the National Bank of Ethiopia during the current fiscal year, falling short of its initial target.
Gebremariam Setegn, Director General of the Regional Mining and Energy Development Agency, stated that the region had planned to supply 300 kilograms of gold this year. He cited illegal trade and underperformance by licensed producers as major obstacles to meeting this goal.
To address these challenges, the region has intensified regulatory measures, including issuing licenses to producers in new mining areas and establishing a dedicated task force to curb illegal trading activities. Ato Gebremariam also emphasized the importance of cooperation from licensed gold suppliers, traditional gold-producing associations, and specialized small enterprises in ensuring that the gold they mine is deposited with the National Bank.
Despite falling short of its gold target, the region reported progress in coal production. According to the Agency 168,000 tons of coal have been supplied for industrial use during the current fiscal year.
Source: Fana BC