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Ethiopia to have new mine and petroleum policy in July

Christian Fernsby |
A new policy to rule over the dynamics and rules of mines and petroleum will come into effect in Ethiopia in July, according to an official note released on Thursday by the Ministry of that economic sector.

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The new procedure aims to promote modernization of mining and oil exploitation, increase their contribution to the economy, create more jobs and encourage investment, taking into account environmental protection.

According to the text, the use of mineral resources and processes with hydrocarbons currently have a negligible contribution to the development of Ethiopia, among other reasons due to the insufficient training of the workforce and lack of top technology.

The policy applied so far was prepared more than two decades ago, and the Council of Minerals Affairs of Ethiopia submitted it to a national consultation within the sector to update it, a process that gave rise to the legislation that will be instituted soon.

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