Geological Survey of Ethiopia (GSE) sets plan to identify 30 new mineral potentials in the current budget year, according to The Ethiopian Herald.
GSE will undertake mineral potential areas identification on 30 selected areas in the country, GSE Public Relations Director Tamiru Marsha told The Ethiopian Herald.
The identification and development of nation’s mineral potentials will play a significant role in producing substantial minerals outputs for industries, he added.
As to him, the country has untapped mineral resources but the sector is not developed at the required level, the report added.
Mining is important to the economy of Ethiopia as a diversification from agriculture.
Currently, mining comprises only 1% of GDP. Gold, gemstones (diamonds and sapphires), and industrial minerals are important commodities for the country’s export-oriented growth strategy.
Tantalum mining has also been profitable. It was reported that in the late 1980s, the mineral industry lacked importance given that it contributed less than 0.2 percent of Ethiopia’s GDP.
Mining for gold is a key development sector in the country. Gold export, which was just US$5 million in 2001, has recorded a large increase to US$602 million in 2012.
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