Ethiopia aims to double gold export earnings
By the AFREEQUE newsroom, based on Fanamc
Ethiopian Prime Minister Abiy Ahmed believes domestic refining could raise gold export earnings from around $5.6 billion to $6 billion to at least $10 billion. The new precious metals refinery could process up to $80 billion in annual exports and attract minerals from neighbouring countries, according to Fanamc.
Ethiopian Prime Minister Abiy Ahmed wants to increase the country’s gold export earnings to at least $10 billion through new domestic refining capacity, he said on 10 October during a visit to the National Precious Metals Refinery in the Bole Lemi Special Economic Zone.
Ethiopia exported around $5.6 billion to $6 billion worth of gold last year. Abiy Ahmed estimates that earnings would have reached at least $10 billion if the current refining capacity had already been available, allowing the country to retain more value from precious metals exports.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
