The Ministry of Mines revealed that 287. 28 million USD was secured from minerals export during the last nine months of the current fiscal year.

Mines State Minister Million Mathewos told the Ethiopia Press Agency (EPA) that a plan was set to earn 387.28 million USD from minerals export for the reported period while the performance achieved 74.11 percent of the target.

According to him, 3.023 tons of gold, 69.79 tons of tantalum, 11,176.4 of lithium ore, 100.563 tons of ornamental minerals and 32, 141.65 tons of industrial minerals were exported to the foreign market during the nine months. The income was made by supplying over 43,491 tons of minerals to the foreign market. This current revenue surpassed that of the past year same period by 114.19 million USD.

The state minister also noted that apart from the mining expenses business, 173.18 million Birr income was obtained from royalty, community development fund and licensing in the reported period. "The aim is to increase the international market networks by attracting those who have the capacity and experience to participate in the mining industry."

Efforts have been made to promote Ethiopia's mineral potentials in two rounds of the Mining and Technology Expo, as well as in the international mining conference in Australia and South Africa.

Due attention has been given to enable Ethiopia to utilize its potential in the mining sector. Accordingly, the Mining Council has been formed and put into action to ensure that projects started in the sector are completed on time.

To increase import substitution, monitoring and support activities have been done for companies engaged in coal washing, ceramic, marble, granite and terrazzo products and increase their performance, Million remarked.

Having exported a total of 7,690,452 tons of minerals to the foreign market in the last fiscal year, Ethiopia grossed 172, 83 million USD.