Ethiopia’s Coal Production to Hold Cost Saving on Foreign Currency

Ethiopia Coal ProductionCoal production at the national level will help to recover costs incurred in foreign currency expenditure on the mineral beyond encouraging investors to the energy sector, according to Ministry of Mines and Petroleum.

In its 73rd regular session, Council of Ministers has approved a regulation on issuance of license for coal and chromites mining on August 24, 2019 to promote investments in mining industry.

Case Team Coordinator for Mineral Licensing at the Ministry of Mines and Petroleum, Leul Gebre, told ENA that the government has been taking various measures to encourage investments in coal, it was learned.

Amending energy proclamation and licensing potential companies who wish to invest in the sector are some of the measures that Ethiopia has taken in mining industry, he indicated.

He pointed out that Ethiopia’s potential in coal deposits have already been studied and identified in Amhara, Oromia and Southern Nations, Nationalities, and Peoples’ (SNNP) regional states.

According to the Geological Survey of Ethiopia, there are 17 main locations in which potential coal resources have been identified which amounts over 360 million tons of coal.

Coal fossil fuel generates around 40 percent of the world’s electricity and about 25 percent of the world’s primary energy. 

Source :- https://www.ena.et/en/?p=9947