Ethiopia to boot gold production to 8.7 tons at the end 2015

(BullionStreet): East Africa’s Ethiopia has set a gold production target at 8.7 tons by 2015.

According to country’s Ministry of Mines, the country is now benefiting from both global gold price hike and production increment.

The ministry also plans to increase the number of traditional gold miners unions and associations in the country to 593 from 243.

In the first six months of this year, Ethipia exported 2.7 tons of gold mined by traditional gold miners.

The ministry said this was an increase by 300 percent compared to the amount of gold produced by traditional miners last year.

The export earning obtained from the gold produced by traditional miners is 56 percent higher than the ministry’s target for the period.

The ministry said it is planning to revise and increase gold production target by traditional miners to 5.2 tons.

With regards to increasing the amount of gold production by companies, the ministry has also set a target to boot the production from the current 3.9 tons per annum to 8.7 tons at the end 2015.

Tags: Ethiopia gold production

Posted by admin on Nov 25 2011. Filed under Gold mining. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry