Ethiopia earns over $121 mln in revenue from gold, gemstones

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Addis Ababa, 2 December 2013 (WIC) – Ethiopia has earned over 121 million US dollars in revenue from various minerals supplied to the national bank and overseas markets in the first four months of this fiscal year.

Ministry Public Relations Senior Expert, Ethiopia Bedecha, told WIC the revenue was secured from 2, 541.3 kg of gold supplied to the National Bank of Ethiopia by tradition gold miners as well as 1,264.2 kg of raw and 12.98 kg of value added gemstones exported to various countries.

Some 101.2 of the income was earned from gold produced traditionally and supplied to NBE, while the remaining 20.5 million US dollars was generated from gemstones exported by various companies, he said.

The revenue fell short of target, however, efforts are underway to achieve the target in the remaining months by diversifying export items and devising other options, he said.

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