ADDIS ABABA – Ethiopia has developed a new national mining policy aimed at sustainably exploiting its vast mineral resources. This policy is designed to create a transparent and predictable regulatory environment, encouraging both domestic and foreign investments while promoting sustainable mining practices and local community engagement.
According to Ethiopian News Agency, Million Matheos, who spoke to the Ethiopian News Agency (ENA), the policy represents a strategic shift by the Ethiopian government, which now recognizes mining as a key economic sector. Previously, the mining sector did not receive the attention it deserved despite its significant potential.
As part of the broader reform measures, Prime Minister Abiy Ahmed inaugurated the Second Annual Mining and Technology Expo last Friday. The expo, centered on promoting the mining sector, brought together stakeholders and experts to discuss the industry's challenges and opportunities. The event featured presentations, panel discussions, and networking opportunities aimed at enhancing collaboration and advancing Ethiopia's mining industry.
Million Matheos highlighted the enormous potential of both explored and unexplored mineral resources in Ethiopia during a panel discussion at the expo. He stated that to leverage this potential, the ministry has developed a comprehensive policy framework. This framework, currently under discussion in parliament, is intended to streamline regulatory processes, promote sustainable mining practices, and create an investment-friendly environment.
Key aspects of the policy include attracting investments, both domestic and international, by providing a stable policy environment, particularly appealing to foreign investors who seek predictability. The policy is also focused on ensuring the mining practices are sustainable and beneficial to local communities.
Million emphasized that the new mining policy is of international standard, developed with support from global partners and by benchmarking the experiences of other countries. He expressed confidence that the policy would enhance Ethiopia's competitiveness in the mining sector. Moreover, he pointed out that the successful implementation of the policy is expected to bring predictability and transparency to the sector, thereby transforming Ethiopia's economy through its rich mineral resources.