Ethiopia: Amhara Region Delivers 357 Kilograms of Gold to Nbe

What the report says

The Amhara National Regional State in Ethiopia has supplied 357 kilograms of gold to the National Bank of Ethiopia for the first time, according to the Ethiopian News Agency report distributed by AllAfrica. The delivery was presented as part of the region’s 2018 Ethiopian fiscal year performance and was described by regional officials as a notable milestone in efforts to strengthen oversight of mining activity.

Amhara Region Chief Administrator Arega Kebede made the remarks while presenting an annual report to the Amhara Regional Council during its 12th regular session. He said the regional government had stepped up regulation of the mining sector and coordinated efforts to curb illegal mining and illicit mineral trading. The report linked the larger legal gold supply to tighter enforcement and improved governance in the sector.

The article also said authorities seized more than 133,500 cubic meters of illegally extracted minerals during the fiscal year and collected more than 27.19 million birr through corrective actions and confiscations, with the money transferred to the government treasury. Separately, exploration work identified substantial iron ore, granite and basalt reserves in the region. The reported developments matter because Ethiopia has long sought to increase legal mineral output, support foreign exchange earnings and reduce losses from informal trade.