The licenses of over 17 gold producers canceled in connection with illicit trade gold in the Gambella region of Ethiopia
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Toronto – Despite making numerous macro-economic changes with the aim to stir economic stability and even growth, the National Bank of Ethiopia continues to face challenges.
The latest revelation from news sources indicates that the amount of gold ending up to the National Bank of Ethiopia from traditional producers and registered businesses with mining licenses is dwindling.
DW Amharic cited Ujulu Uman, Dima district head in the Gambella region of Ethiopia , as saying only 10 to 15 kilograms of gold ends up at the National Bank every month. The figure used to be between 30 and 40 kilograms, according to the source.
Illicit trade in gold in the region is linked to the problem.
The district is said to have a large deposit. The source added that about 79 businessmen were issued with gold mining licenses in the district. But the illicit trade is negatively impacting the amount of in flow to the National Bank. According to the report, the district used to supply the National Bank of Ethiopia with up to 300 kilograms of gold annually. In the 2014 Ethiopian budget year, up to 1000 kilograms of gold was produced per year.
The district head also revealed that the government issued a warning to gold mining businesses in the district. They are now given a target amount to submit to the government. Within ten days, each gold mining association has to deposit 600 grams of gold to the national Bank, according to DW Amharic report.
17 gold mining licenses have been canceled in the district – apparently in connection with illicit trade with gold. Over 100 gold mining licenses have been issued but only 79 are active in the business.
This year 287 kilograms of gold was supplied to the National Bank, according to the region.
The region has been struggling with a security crisis. A few weeks ago, Omod Ugulu ,the regional president, was removed and replaced with Alemitu Omud
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All African and other countries got their gold reserves from Bank of England! Tplf and Shabia stole Ethiopia’s gold reserve? Is tbere any pro Ethiopia leadership who will demand oir dtolen gold? No! Ethiopia gold resources is being mined out and bring stolen while distracting the population by civil war and now war with Egypt. Who is standing with Ethiopia? How can the people survive divided by olf, Shabia and Tplf benefiting Egypt and other foreigners while destroying Ethiopia?
The so called a vountry like Ethiopia without checks and balance, with gangs killing people and stealing natural resources. Such as gold, our animal stocks which Ethiopia used to benefit by exporting legally after domestically tge people benefit.