Ethiopia : $4.2 billion mining agreements to develop iron, potash and gold

Ethiopia’s Ministry of Mines has signed mining investment agreements worth $4.2 billion in Addis Ababa with ZYTB DIM Metals and Minerals Manufacturing PLC, Ethiopian Investment Holdings and Bero Mining and Trading PLC to develop iron ore, potash and gold resources. 

According to the World Bank, natural resources account for about 3% of Ethiopia’s GDP. Minister Habtamu Tegegne said the projects aim to boost industrial self-sufficiency and expand mineral exports.