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Ethiopian Government To Unveil Mining Sector Reforms To Lure New Investors At EIMC 2019

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EIMC 2019, the second edition of the Ethiopian International Mining Conference & Exhibition (EIMC 2019) will take place from 25 – 26 November 2019, in Addis Ababa, Federal Democratic Republic of Ethiopia. 

EIMC’S main theme will be “Transforming potential into production by creating an attractive mining investment framework”. EIMC 2019, will be an all-encompassing two-day mining event including: a mining industry conference, trade exhibition, as well as numerous networking opportunities.

Ethiopia was rich in mineral resources, including oil and gas, these remained largely untapped, adding mining’s potential to contribute to economic growth and poverty reduction in the country could not be over-emphasized. The sector contributed to less than 1 percent of GDP, 14 percent of exports, 1 percent of government revenue and was only able to create 4,000 formal jobs in 2018. 

In its Growth and Transformation Plan, Ethiopia has set as a target for its mining sector to contribute to 10 percent of GDP by 2025. The mining sector is a key pillar of Ethiopia’s Growth and Transformation Plan (GTPII) which aims to make Ethiopia a middle-income country by 2025, by transitioning from an agriculturally based economy to an industrial one. In 2017, Ethiopia was the fastest growing economy in the world and growth has reached over 9% during the last decade as well as a 167% increase in Foreign Direct Investment over the last 5 years, totalling US$ 3.5 billion. Although commercial mining is still in its infancy with just over 50 companies being in active exploration and 58 companies in the development phase or production, investment in the sector is expected to boom.

Attending EIMC Ethiopia 2019 will enable delegates to gain more information about the Mining Industry within a wider context. The EIMC 2019 topics of discussion will include:

  • The role of the mining sector in Ethiopia’s Growth and Transformation Plan (GTPII)
  • Transforming potential into production by creating an attractive mining investment framework
  • Geological knowledge the key to development and diversification of Ethiopia’s mining sector
  • Ethiopia a major new player in the global gemstone market
  • Developing a sustainable mixed energy framework in Ethiopia
  • Local content and Corporate Social Responsibility in Ethiopia’s mining sector
  • Developing the next generation of Ethiopian mining professionals

Independent experts believe that Western Ethiopia potentially has the largest gold deposits in Africa. Ethiopia is poised to become a major gemstone producer. In 2017, Ethiopia exported 2,290 kgs of emeralds, their quality is high and like those found in Colombia. Sapphires were found in November 2016 in the Tigray Regional State and there has been limited geological work carried out in this area, therefore offering many possibilities for investors. Ethiopia could challenge the Australian opal which has been dominant on the global market for over a century. Between 2000 – 2014, Ethiopia’s export of opals increased by 136.6%.

Find out more about more about the exciting news that will be announced at EIMC by contacting us.

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