Oromia Mining was also handed other projects in the Oromia regional state, including Adola Gold and Yayu coal mining projects. However, as Oromia Mining SC lacks the technical skills to conduct the mining operations at Kenticha, it entered a partnership with AME. This partnership birthed Kenticha Mining Plc, which was formed in June 2021 with a 10 million birr capital. As per the Kenticha mining Plc memorandum of agreement signed between AME and Oromia mining SC, AME agreed to avail USD 38.1 million. The mandate of cancelling the mining license of Kenticha mining Plc, is vested in the Ministry of Mining.

Source: Ethiopian News October 28, 2023 08:38 UTC