RUSSIAN companies have picked up their activity levels in Eritrea in terms of mineral exploration. At the end of August last year, a subsidiary of Gazprombank (GPB) (RTS: GZPR), Ketina Mining, registered in Eritrea in order to study potential gold and copper mining projects.
The company later entered into a joint venture with Eritrean State mining company ENAMCO to become the first Russian-Eritrean Mining Share Company.
Ketina Mining Share Company holds an area of 1000 km2 exploration license in Gash Barka region, Molki sub region. The area is located South-West of Asmara.
The geological set up of Eritrea is made up of Precambrian basement rocks that are overlain un-conformably by predominantly Mesozoic sedimentary rocks and Tertiary to Quaternary volcanic and sedimentary rocks.
PRECAMBRIAN BASEMENT ROCKS:
Basement rocks in Eritrea cover more than 60% of the surface of the country. The basement rocks of Eritrea are part of the Arabian Nubian Shield (ANS) which are exposed in north east Africa (Egypt, Sudan, Eritrea, and Ethiopia) and in Saudi Arabia, northern and northwestern parts of Yemen and part of the western Middle East. Continue reading The Geology of Eritrea→
In an attempt to promote sustainable exploration and mining activities in the country and the Arabian-Nubian Shield region, the Ministry of Energy and Mines is organizing the Third Asmara Mining Conference dubbed as “Asmara GeoCongress 2012” from 2 – 6 October 2012, in Asmara.
As part of the Arabian Nubian Shield, Eritrea is now being acknowledged for its substantial mineral potential that ranges from VHMS polymetallic deposits associated with NeoProterozoic rocks of this Shield, to epithermal gold and Potash deposits in the younger Red Sea Rift-related sedimentary Continue reading Third Asmara Mining Conference to be Conducted→