Inaugural Ethiopian International Mining Conference

Jonathan Brooks, Head of Mining and Metals, and Cecily Davis, Head of Construction & Projects, at Fieldfisher attended the inaugural Ethiopian International Mining Conference in Addis Ababa on 24 and 25 September.

Ethiopia has experienced strong economic growth in recent years and is Africa's fastest growing economy. The Ethiopian Government is pursuing an export-related development strategy and is working to expand the industrial, manufacturing and services sectors. Ethiopia's mining sector currently accounts for 1% of the economy, but it is hoped that it will reach 10% of GDP within 10 years. 90% of all current mining activity is artisanal/small-scale. The sector was opened up to private investors in 1991 but it has not proved to be attractive to international investors. However, the regulatory climate is improving following tax and licensing reforms, decreasing the cost of doing business and the Government is seeking to open the sector to foreign companies.

One of the main participators in the Conference was Fieldfisher client, KEFI Minerals, the AIM-quoted mining company, which is developing the Tulu Kapi gold project in Western Ethiopia. KEFI Minerals is in the forefront of the growth of the...