Addis Ababa, March 13, 2026 (FMC) — Ethiopia’s Ministry of Mines has granted production licenses to three companies to develop potash, iron and gold resources, marking a step toward expanding domestic mineral production and export capacity.
The licenses were issued during a ceremony held today for companies that completed exploration activities and are transitioning into production.
Accordingly, Ethiopian Investment Holding received a license for potash development, ZYTB-DIM Steel Manufacturing obtained a license for iron development, and Bero Mining secured a license for gold production.
The projects are expected to require a combined investment of 4.2 billion U.S. dollars.
Speaking at the event, Mines Minister Habtamu Tegegn said Ethiopia is taking significant steps to develop its mineral resources in a structured manner and utilize them for national development. He noted that expanding mineral production will help ensure consistent output and exports, while reducing foreign exchange losses.
The minister said the projects will also help build domestic capacity to produce strategic products. He recalled that the country’s inability to produce iron locally has affected the construction sector in the past, adding that the new development is expected to help address the challenge.
Habtamu further noted that although Ethiopia possesses substantial iron ore resources, the country has not previously benefited sufficiently from their development. He added that ongoing government-led efforts are helping revive steel production initiatives that had stalled for various reasons.
He also stated that the gold production license will contribute to modernizing the sector and improving productivity.
CEO of Ethiopian Investment Holding, Brook Taye, said that although several attempts had previously been made to develop Ethiopia’s potash resources, they had not produced tangible results. He noted that preparations have now been completed to advance the development of minerals that can serve as key inputs for industry through stronger public–private sector cooperation.
Brook also emphasized that companies granted mining licenses should contribute to Ethiopia’s economic growth through effective development of their respective projects.
Mulatu Teshome, President of the Board of ZYTB-DIM Steel Manufacturing, said the company is committed to producing steel that supports Ethiopia’s development. He noted that the company plans to produce 2 million metric tons every two years and aims to make Ethiopia a leading steel producer in Africa within the next decade.
Habte Fereja, Managing Director of Bero Mining Trading, said his company will work diligently to enhance the contribution of Ethiopia’s gold resources to the country’s economic growth.