Anchor investors need to tap Ethiopia’s abundant Graphite resource, said Geological Survey of Ethiopia (GSE).
GSE Communication Director Tameru Mersha said, “studies have shown as the country has over 460,000 ton Graphite reserve, most of which in the eastern part of the country”.
The surveys were undertaken by Russia and Iceland and proved the countries potential, he said.
Additional exploration activities would be carried out in other parts of the country, according to Tameru.
“Graphite is an industrial mineral with unique physical properties which includes superior thermal/electrical conductivity and used as an input for foundry facings and lubricants, refractory application, batteries, steel-making, brake linings, among others,” he said.
To him, the wide industrial use of the mineral increases the mineral’s demand in the international market.
The number of investors that aspires to engage in the mining sector is increasing from time to time and recently a British business delegation held discussions with Ministry of Foreign Affairs on ways of tapping investment opportunity of the country, particularly in graphite exploration and production, it was learnt.
The delegation comprised members from SVS Securities Plc, Lantica Africa Ltd and Tactical Environmental as well as Ibex Frontier, an investment consultancy firm, The Ministry of Foreign Affairs indicated.