Ministry of Mines and Energy (MoME) yesterday signed an agreement with Derba Midroc Cement PLC allowing the latter to mine limestone, marl, gypsum and sandstone in the North Shewa Zone at Mugher locality, Oromia regional state.
Alemayehu Tegenu, Minister of Mines and Energy and Sheikh Mohammed Hussein Ali Amoudi, Owner and Chairman of MIDROC investment group signed the agreement at the Sheraton on Monday.
The company has allocated a capital of 57,212,000 Birr for mining limestone, marl, gypsum and sandstone in the aforementioned region.
According to the agreement, the license includes an exclusive right for a large scale Limestone, Marl, Gypsum and Sandstone mining with in the license area for the coming 20 years and it will be renewed for 10 years upon the request of the license, agreed to give preference to the employment of Ethiopia national provided that such personnel have the required qualifications and experience and to give the employees the training required by their duties for the mining operations.
It said the company shall also give preference to domestic goods and serves as long as they are readily available at competitive prices and of comparable quality.
Minister of Mines and Energy, Almayhu Tegenu said Derba Midroc’s mining will have a great contribution on the activities of the country’s construction sector hoping that it will perform its duties as the agreement.
He added that currently there are 61 privately owned exploration and mining companies including Derba having 110 license, operating all over the country.