The plundering of Ethiopia’s gold deposits

As the price of gold rises to a record high, the speed and intensity with which Al Amoudi and the Woyanne regime are plundering Ethiopia’s gold deposits has increased in recent days. Sources close to the Ministry of Mining have informed ER’s Research Unit that over 80 per cent of the gold from Al Amoudi’s mining operations is exported out of Ethiopia without the knowledge of the Ethiopian Ministry of Mining. Al Amoudi’s private planes fly to Legedenbi, Shakiso and other mining areas he owns, loaded up with gold and fly straight to London and Jeddah with security provided by Woyanne’s special forces. It is difficult to know how much commission Meles and his crime family get from Al Amoudi’s operation, but it is estimated to be in the tens of millions. It is a government-sponsored contraband operation in a massive scale, according to one mining expert who wishes to remain anonymous for fear of retribution.

Al Amoudi and Woyanne security chief Mulugeta Alemseged
Al Amoudi confers with Woyanne
security chief Mulugeta Alemseged

Al Amoudi bought the Legedenbi gold mining site in southern Ethiopia with a mere $172 million from Woyanne in 1997. By Al Amoudi’s own estimate, by 2020 the mining operation will net him over $1.6 billion. This is a fraction (less than 20 per cent) of the real profit Al Amoudi is expected to make. As stated above, over 80 per cent of the gold that is mined is unaccounted for by Woyanne’s own Ministry of Mining. Meanwhile, most of the native people in the region continue to live in abject poverty without adequate food, water, health care, or education.

What is more audaciously crooked in all this is the fact that Al Amoudi bought the gold mine with the money he borrowed from the National Bank of Ethiopia (NBE) at a low interest rate. We are being told that Al Amoudi invests tens of millions of dollars of his own money in Ethiopia. This is far from the truth. Most or all of his companies and building in Ethiopia were bought or constructed with money borrowed from the NBE.

With the private press muzzled, and the opposition parties under constant attack by the Woyanne government, there is no one to expose all this fraud that is being perpetrated against the people of Ethiopia. This web site’s publisher himself has been charged by the Woyanne regime of treason, convicted by the kangaroo court and sentenced to life in prison for daring to criticize the regime and expose its crimes.