MIDROC

MIDROC-Mohammed International Development Research and Organization Companies is a company owned by Sheik Mohammed Hussein Al Amoudi. It has operations in Europe, the Middle East, and Africa.

MIDROC Ethiopia

MIDROC Ethiopia which was created in 1994. In 2011 it made 1.3bn birr (US$70m) of profits.

MIRDOC has major gold mining interests in Ethiopia and it is reported that MIDROC Gold Mine (a subsidiary of MIDROC Ethiopia) has paid the Ethiopian Government 100.1 million birr in royalties, the largest contribution of any mining company. Midroc Gold is Ethiopia’s sole gold exporter. Its Lega Dembi mine has a yearly average production of around 4,500 kg of gold and silver.

MIRDOC owns 70% of National Oil Ethiopia, which competes with YBF, TAF and five other companies in the national petrol market and is establishing a major steel plant (Tossa) in Amhara. This latter is Ethiopia’s first industrial steel production plant and in intended to meet a major increase in domestic demand, estimated to rise from 1.2m tonnes to 3.1m tonnes per annum between 2011 and 2014.