NBE Receives 4.9 Billion Br Worth in Gold from Tigray

The gold collection valued at 4.9 billion Birr was mined over the past fiscal years, from 21 districts of the state which are rich in the precious resource.

In Tigray there are over 425 legally operating traders involved in the collection and supply of gold to the Bank.

Obtained from the supply of 1.18 tons of gold, the share of the last fiscal year alone hit over 903 million Br. Information and data collected from the National Bank of Ethiopia (NBE) indicate that 597.7 tons of gold were supplied to the central bank between July 2012 and December 2015.

For the current fiscal year so far, 349kg of gold worth over 257 million Br, have been collected.

Data from the north-west zone of Tigray State indicate that 7,850 locals are engaged in traditional gold mining, with 1,800 of them being women.

An official of the region mentioned that efforts are being made to modernize the traditional ways mining gold in those areas.

You may also like...