• Benishangul-Gumuz delivered more gold in 7 months than entire previous fiscal year total.
• Seven-month gold deliveries reached 100%+ of prior year annual output benchmark.
• Region accounts for a significant share of Ethiopia’s total gold export volumes.
• Gold remains one of Ethiopia’s top foreign exchange earning commodities.
• Deliveries driven mainly by artisanal and small-scale mining operations.
• Government collection and supply monitoring mechanisms contributed to higher reported volumes.

why it matters?

Exceeding 100% of last year’s output in seven months signals stronger FX inflows and improved gold supply tracking in Ethiopia’s mining sector.

• Ministry of Mines issued production licenses to three companies on March 13, 2026. 

• Ethiopian Investment Holding received a potash production license. 

• ZYTB-DIM Steel Manufacturing received an iron production license. 

• Bero Mining received a gold production license. 

• The three projects are expected to require USD 4.2 billion in combined investment. 

• Ministry said the projects aim to expand mineral output, exports and reduce foreign exchange losses. 

• ZYTB-DIM said it plans to produce 2 million metric tons every two years. 

Why it matters?
The licenses move three mining projects from exploration into production. For Ethiopia, that affects export earnings, industrial raw material supply, and future fertilizer and steel input availability. 

• Bishoftu International Airport construction workforce projected 50,000 workers in 2026, according to project labor demand estimates.

• Workforce expected 70,000 in 2027, 90,000 in 2028, and 100,000 in 2029 during peak construction period.

• Labor management plan prepared by Dar Al-Handasah Consultants and Ethiopian Engineering Corporation.

• Airport project led by Ethiopian Airlines Group to expand national aviation capacity.

• Airport planned in Bishoftu, 40 km southeast of Addis Ababa.

• Project designed to supplement operations at Addis Ababa Bole International Airport.

why it matters?
The project will employ tens of thousands during construction and expand Ethiopia’s aviation infrastructure. Increased capacity may support aviation, logistics, and related services sectors.

• Geological survey identified 81 million tonnes of coal in Southern Ethiopia.

• Survey conducted by Ethiopian Geological Survey.

• Deposit located in Southern Ethiopia Regional State.

• Coal resource classified based on geological assessment data.

• Findings add to Ethiopia’s domestic mineral resource base.

• Survey forms part of national mineral exploration program.

• Authority indicated potential for industrial and energy sector use.

why it matters?
The 81 million tonne coal discovery increases Ethiopia’s documented mineral reserves. It provides additional domestic resource data for energy and industrial planning.

• MIDROC Investment Group opened a 1 billion ETB coal processing facility in western Ethiopia. 

• Facility processes 200 tonnes of coal per hour. 

• Plant created 250 permanent jobs. 

• Ethiopia previously spent up to $300 million on imported coal. 

• Processed coal intended for domestic cement, steel, construction industries. 

• Plant inaugurated in Arjo, East Wollega, Oromia Region. 

why it matters?
The facility replaces a portion of Ethiopia’s imported coal demand, potentially reducing foreign exchange outflows tied to industrial fuel imports.

• Ethiopian Airlines confirmed 35 international firms expressed interest in constructing the Bishoftu mega-airport.

• Detailed design completion targeted by end of February 2026.

• Formal tenders scheduled for March 3; four construction contracts to be signed by August.

• Project cost estimated at USD 9 billion.

• Financing structured through a Special Purpose Vehicle, using project assets as collateral.

• African Development Bank coordinates the project; KPMG serves as financial advisor.

• Final financing agreements expected by December 2026.

Why it matters?
The USD 9 billion airport project is advancing toward tendering and financing closure. SPV-based funding and multilateral coordination shape execution of Ethiopia’s largest aviation infrastructure development.

The National Bank of Ethiopia (NBE) plans to exit the gold purchasing and export market by December 2026, ending its monopoly and opening the sector to private banks, according to the IMF’s Fourth Review. This shift follows sustained financial losses and market distortions attributed to NBE’s premium-based gold purchases. 

Key Takeaways:

• Policy change: NBE will cease gold market operations by end-December 2026. 

• Market entry: Private banks will be permitted to buy gold domestically post-exit. 

• Cost issue: NBE’s prior 15 % premium above international prices led to losses and balance-sheet strain. 

  
  

Why It Matters:

• Zijin Gold International agreed to acquire Allied Gold Corporation for C$5.5 billion (about US$4.0 billion) in an all-cash transaction at C$44 per share, a 27% premium to the 30-day average. 

• Transaction financed entirely from Zijin’s cash reserves with no financing conditions and expected closing by late April 2026. 

• Shareholder & regulatory approvals required; Allied directors holding ~15.4% of shares have agreed to support the deal. 

• Upon completion, Allied Gold will be delisted from the Toronto and New York stock exchanges. 

• Deal includes a C$220 million termination fee payable by Allied under specified conditions. 

Why it matters: This acquisition significantly increases Zijin’s portfolio of large-scale gold assets in Africa, including those in Ethiopia, and reflects continued consolidation in the global mining sector. The all-cash structure provides immediate value to Allied Gold shareholders without financing contingencies.

1. EAG expects to select a lead contractor between June and July 2026.
   Ethiopian Airlines Group (EAG) aims to finalize the principal contractor for the Bishoftu airport project in this period. 

2. The Bishoftu International Airport project budget is in the multi-billion-dollar range.
   Estimates place the total cost between $7.8 billion and over $12.5 billion depending on scope and expansion phases. 

3. Bishoftu International Airport will handle up to 110 million passengers annually.
   Full project completion is designed for an annual capacity of 110 million passengers. 

4. Construction began in January 2026 with phased delivery by 2030.
   Groundbreaking occurred 10 January 2026, and Phase I targeting 60 million passengers per year is set for completion by 2030. 

5. EAG and lenders will finance the project with defined ratios.
   Ethiopian Airlines will cover about 30 % of costs, while lenders—including the African Development Bank’s $500 million contribution—will fund the remainder.