NEWS

Ethiopian company seeks to explore SNNPR for aluminium

Thursday, Feb 19, 2015

African Review reported that Ethiopian aluminium manufacturer Inter Africa Extrusion has submitted an application for an exploration license in the Southern Nations Nationalities and Peoples Regional State in Ethiopia.

Aluminium is a rare mineral in the country, and Inter Africa Extrusion has already conducted surveys in some areas of SNNPR to explore the feasibility of operations.

Mr Haimanot Abate GM of Inter Africa Extrusion said that “An application has been submitted to the Ministry of Mines. We are well aware of the availability of aluminium in the area.”

The company, which used to import aluminum from Gulf countries, is now manufacturing aluminum locally. The growing demand drove the owners to establish a manufacturing plant with an outlay of USD 2.2 million as initial capital. Consequently, the company raised its capital to USD 2.7 million.

The demand for aluminium is on the rise in Ethiopia, propelled by an increase in construction activities. In 2014, Dubai’s Al Ghurair Group and Ethiopia’s Tracon Trading teamed up to establish the country’s first aluminium plant for USD 50 million with a production capacity of up to 30,000 tonnes.

 

Source:http://metal.steelguru.com/

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