March 13, 2026 — Ethiopian Investment Holdings (EIH) has signed a potash mining agreement with the Ministry of Mines of Ethiopia, marking an important step toward unlocking Ethiopia’s significant mineral potential and advancing the development of strategic resources.
The agreement was signed by Dr Brook Taye, Chief Executive Officer of Ethiopian Investment Holdings, and Engineer Habtamu Tegene, Minister of Mines. The signed agreement is expected to contribute to Ethiopia’s long-term economic ambitions by advancing responsible resource development, strengthening industrial capacity, and creating sustainable value for the country.
Speaking on the occasion, Dr Brook highlighted the opportunity the project presents.
“Ethiopia has significant untapped potash resources, and this agreement is an important step toward realizing that potential. Developing our potash resources not only opens new opportunities for Ethiopia’s mining sector, but also contributes to building industrial capacity, supporting agricultural value chains, and positioning the country to benefit from growing global demand for fertilizers and critical minerals.” As Ethiopia moves towards a strategy of issuing mining licenses to companies who will effectively utilize the opportunity rather than hoard the resources, EIH is honored to be entrusted to actualizing this long-aspired vision
Engineer Habtamu, for his part, congratulated the parties involved and reaffirmed the Ministry’s commitment to supporting the initiative.
“I would like to congratulate everyone involved in reaching this milestone. We look forward to the successful implementation of the project. Working together with the largest sovereign wealth fund in Africa creates a strong opportunity to help utilize Ethiopia’s mineral potential.” He added “The Ministry will work closely with Ethiopian Investment Holdings and stands ready to support the project in any way possible.”
The agreement reflects the continued collaboration between the Government of Ethiopia and EIH to develop the country’s natural resources in a responsible way while contributing to Ethiopia’s long-term economic growth