| Home | Politics | Human Rights | Water | Economy | Education | Sci & Tech | Culture | Sport |
26 March 2007
ADDIS ABABA (Reuters) - A mining company said on Monday it had found an estimated 10,000 tonnes of gold in southern Ethiopia that could be worth more than $1 billion.
Privately-owned National Mining Corporation (NMC) said the discovery was made at Dawa Dagiti in southern Oromia region.
"When production starts the country could earn up to $1 billion from gold exports that would help its development," NMC administrator Melaku Beza told a news conference in Addis Ababa.
He gave no more details. Gold is one of Ethiopia's top hard currency earners, along with coffee, hides and skin.
NMC, owned by Saudi tycoon Mohammed Hussein Al-Amoudi, has concession right to explore for minerals in 85 square kilometres in the area. Melaku said the company was also studying evidence of large silver deposits in northern Amhara and Tigray regions.