Accra:Prime Minister Abiy Ahmed has inaugurated the National Precious Metals Refinery, a cutting-edge facility capable of processing over 600 tonnes of precious metals annually. This development signifies a major advancement in Ethiopia's industrial growth and aims to diversify its economy.
According to Ethiopian News Agency, the refinery, located at the Bole Lemi Special Economic Zone, was established through a collaboration between Ethiopian Investment Holdings and Sam Precious Metals. It is expected to significantly enhance domestic value addition and strengthen the country's mining sector.
The new facility is set to position Ethiopia as a regional hub for precious metals refining. The initiative is part of the Medemer government's strategy to utilize resources effectively, increase industrial capacity, and improve export revenues. It is also anticipated to create skilled employment opportunities, support the jewellery industry, and promote a transparent and competitive gold value chain.
Prime Minister Abiy highlighted the focus on resource extraction and industrial transformation to generate greater domestic value.
