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Tuesday, April 18, 2017
Ethiopia’s Ministry of Mines, Petroleum and Natural Gas (MoMPNG) cancelled over 50 mining and explorations licenses. The licenses were cancelled due to the failure of license holders to commence operations on schedule.
Ethiopian law requires companies to begin exploration or mining within 90 days after signing a contract with the ministry.
Bacha said MoMPNG had registered 530 mining companies so far, including, the active, cancelled, transferred and under evaluation/ investigation licenses owned by local and foreign entities as well as joint ventures.
The ministry statistics indicate that a total of 211 mining licenses have been cancelled since 2004, the majority of them for mining gold.
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