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MIDROC Ethiopia was established in 1994. In 2011 it made a profit of 1.3bn birr (US$70m). [4]MIDROC has major gold mining interests in Ethiopia [5] [6] and it is reported that MIDROC Gold Mine (a subsidiary of MIDROC Ethiopia) has paid the Ethiopian Government 100.1 million birr in royalties, the largest contribution of any mining company. [7]
The Lega Dembi Mine is the largest gold mine in Ethiopia and is near Shakiso in Oromia Region. [1] [2] Lega Dembi has a yearly production of around 4,500 kg of gold and silver, and is owned by MIDROC. [3] Pollution from the mine has resulted in environmental conflict that has exacerbated other political and ethnic conflict in the region ...
Gold mining continues to be an important industry in this woreda, with the announcement 24 November 2009, that MIDROC Gold signed a 10-year agreement with the Ethiopian Ministry of Mines and Energy, for the extraction of almost 20.5 metric tons of gold from the Sakaro fields, three kilometers from the existing Lega Dembi Mines.
The Lega Dembi Mine was acquired by MIDROC gold, which between 1998 and 2008 extracted 34 metric tons from the mines, earning 466 million dollars. However, MIDROC has announced in 2009 that the deposits at Lega Dembi are almost exhausted. [2] Shakiso is served by an airport (ICAO code HASK, IATA SKR).
More and more gold mines are being located, such as in the Afar region and in the Konso woreda in south western Ethiopia. [8] On 30 August 2012 it was announced that British firm Nyota Minerals was about to become the first foreign company to receive a mining licence to extract gold from an estimated resource of 52 tonnes in western Ethiopia. [9]
Based on the 2007 Census conducted by the Central Statistical Agency of Ethiopia (CSA), this Zone has a total population of 276,367, of whom 139,119 are men and 137,248 women. 37,615 or 13.61% of population are urban inhabitants. A total of 58,515 households were counted in this Zone, which results in an average of 4.72 persons to a household ...
Lega Dembi in Guji Zone, owned by MIDROC has exported more than 5000 kilograms of gold, [52] followed by Tulu Kapi gold deposit in West Welega Zone. [53] Awoday in East Hararghe Zone is the biggest market of khat exporting to Djibouti and Somalia. [54] Oromia also has more abundant livestock than any other region of Ethiopia, including camels.
Allied Gold corp (formerly, Mondavi Ventures Ltd) was founded in 2011, initially operating as a private company developing and acquiring gold assets in Africa. [ 3 ] [ 4 ] In 2023, Allied Merger Corporation, a company formed by former executives of Yamana Gold with the purpose of exploring mining opportunities in Africa, executed a business ...