State Minister: Chinese and Mining Sector

state minister: As Chinese firms' engagement in Ethiopia's overall investment landscape augmented in recent years, the mining sector has become a priority investment potential for potential Chinese businesses, garnering tremendous interest and capital, Kumsa told Xinhua on Monday, according to Global Times China. According to Kumsa, dozens of Chinese firms have been recently awarded licenses in the exploration and production of various mineral resources across mineral-rich parts of Ethiopia. In an exclusive interview with Xinhua, Ethiopia's State Minister of Mining and Petroleum, Assefa Kumsa, said that as the Ethiopian government invites experienced foreign companies to invest in the mining sector, a growing number of Chinese investors seek to penetrate in the exploration and production of the East African country's untapped mineral and natural-gas resources. Minerals such as gold, iron-ore, various types of precious stones, chemicals, oil and natural gas, as well as construction inputs are among the mineral resources in which Chinese firms are presently exerting their capital and technology in Ethiopia, according to the state minister. According to the agreement that was signed in Ethiopia's capital Addis Ababa, the Chinese firm will invest 57 million US dollars in Ethiopia's mineral-rich eastern Afar regional state, where an abundant reserve of Bromine -a chemical element used as an ingredient for ares including agricultural chemicals and chemical intermediates -is said to be at hand. Among the Chinese companies that have recently entered in Ethiopia's mining sector is Tanaramu Chemical Industrial Plc., which inked a 12-year contract accord with the Ethiopian Ministry of Mining and Petroleum late last week to embark on the production of Bromine chemical resource in Ethiopia. (news.financializer.com). As reported in the news.