Ethiopia Very Likely To Be A Top 5 Gold Producer According to New Research Report
World Rediscovering The Country’s Immense Potential in Gold Mining
Liam Bullock was previously an employee of GP Resource Mining Ltd. He recently wrote an article describing his research and experience with Ethiopian gold mining.
Judging by his widely circulated work he seems fascinated by Ethiopian 6000-year-old history as a ‘key source of gold’. In addition, he presents scientific findings which make an optimistic case for Ethiopia’s under-explored mining resources.
He focuses mainly on the Asosa region of Bienshangul Gumuz. Significantly, he was posted in this region during a one year stay in Ethiopia (2015-2016).
Liam does not think it is unlikely that Ethiopia soon becomes a top performer in the world’s lucrative gold trade. According to the abstract of his recently published research “historical workings and anomalous gold concentrations in rock, soil and stream sediments point to a potentially significant untapped gold resource in the Asosa region of western Ethiopia.”
Now a research fellow at the University of Aberdeen, Liam Bullock published his findings this month in Geology Today.
Gold panning in the Tumet River of Asosa in Western Ethiopia has been a common practice for ages. Recently, numerous mining interests have been seeking concessions in the area.
Other regions also show great promise. In 2016 the National Bank of Ethiopia announced that it received close to 5 billion (ETB) during a five year period from the Tigray region alone.
Gold Exports Make Up 13% of Ethiopia’s 2017 Export Earnings (CIA Factbook)
Last month a Canadian miner asked Ministry of Mines and Petroleum & Natural gas for two concessions in Dam Taburk and Meta Bula. Midroc Gold Mine Plc, a major mining company in Ethiopia also expanded its activities in 2017 and has interests in Lege Dembi and other regions.
A news report indicates that last year there were only four companies that were active in mining in the country. Interestingly, 80 companies were in the initial stages of exploration as of early last year. This is indicative that many of them share the optimism of this recent study.
Ethiopia exported close to six tons in the 2016/2017 fiscal year with the lion’s share being handled by Midroc Gold.