MIDROC Investment Group will receive gold processing plant machinery from Austria's CEMETC within one year for its Metekel facility.
MIDROC Investment Group has contracted with CEMETC, an Austrian industrial and mining equipment manufacturer, to supply machinery for a new gold processing plant in the Metekel Zone. The plant will have the capacity to process 1.25 million tonnes of gold-bearing ore annually. CEMETC is expected to manufacture, install, and deliver the required equipment within one year.
The agreement is intended to support MIDROC Gold's efforts to expand its mining investments and enhance production efficiency. CEMETC specializes in industrial technology for the cement and mining sectors, offering solutions to improve factory operations and production monitoring. This collaboration aims to boost MIDROC Gold's processing capacity and overall productivity.
MIDROC Gold is a significant contributor to Ethiopia's mineral output and foreign-exchange earnings. The company operates under the MIDROC Investment Group, which stated the deal represents a step toward expanding industrial and mining investment and contributing to the nation's economic development.
Why it mattersInvestors are affected as the deal signifies an expansion in Ethiopia's mining sector, potentially increasing foreign-exchange earnings and production capacity.
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