Ethiopia revokes licenses of 32 mining companies

Ethiopia’s ministry of mines, petroleum and natural gas has revoked mineral exploration and production licenses of 32 companies due to lack of financial capacity and for failure to fulfill their duties, a top government official said on Friday.Because of lack of results and financial capacity, nine of the companies returned their licenses voluntarily, Tewodros Gebregziabher, state minister of mines, petroleum and natural gas, said on Friday.

However, licenses of the remaining 23 companies were canceled due to failure to discharge their duties properly, he said.

Of the companies whose licenses were revoked include 13 in gold, five in coal, seven in cement raw material, three in tantalum and niobium, and four in iron ore exploration, according to him.

Tewodros said his ministry is replacing those failed companies with other potential companies from Australia, Canada, Israel and Britain.
The companies are expected to commence operation soon, he said