Tag Archives: ENAMCO

Sunridge Gold Signed Mining Agreement with Eritrea

Michael Hopley, President and CEO of Sunridge
Michael Hopley, President and CEO of Sunridge

By Sunridge Gold,

Sunridge Gold Corp. (SGC: TSX.V/SGCNF: OTCQX) is pleased to announce that the Asmara Mining Share Company (AMSC) has signed a Mining Agreement with the Eritrean Ministry of Energy and Mines (MEM) and as a result three mining licenses will subsequently be issued to AMSC.

These licenses will cover the four advanced projects (Emba Derho, Adi Nefas, Gupo Gold and Debarwa) that make up the Asmara copper-zinc-gold project in Eritrea. An additional 83.12 square kilometers of exploration licenses will be retained by AMSC which include the Adi Rassi copper-gold deposit and the Kodadu gold deposit.

The Asmara Project is held by AMSC, a joint-venture company of which Sunridge owns 60% and the Eritrean National Mining Corporation (“ENAMCO”) owns 40%. Continue reading Sunridge Gold Signed Mining Agreement with Eritrea

Sunridge to Get Mining License for the Asmara Project

The Asmara project, which has a three phase start-up plan, is focused on bringing the project to production in Q4 2015

By Sunridge Gold,

SUNRIDGE Gold (CVE:SGC) (OTCQX:SGCNF) after starting field work in 2014, expects to acquire a mining license for the its joint venture Asmara copper/zinc/gold/silver project in Eritrea as part of a wider mining agreement, covering every aspect of the operations over a 20 year term. Continue reading Sunridge to Get Mining License for the Asmara Project

ENAMCO Seeks a Repeat of Bisha Success Story

Nevsun is nothing but a success story. The mining-friendly Eritrea is set to repeat that story with China’s SFECO and Australian South Boulder Mines.

By African Intelligence,

ON THE crest of its success in cooperating with Canada’s Nevsun Resources Ltd in developing gold at Bisha, Eritrea is intent on doing likewise with China’s SFECO.

Asmara is cultivating its image as a mining-friendly destination by pointing to the legal stability of its mining legislation (dating from 1995) and by being ready in the midst of crisis to lower its partners’ investment commitments.  Continue reading ENAMCO Seeks a Repeat of Bisha Success Story

South Boulder Mines Finalises Open Cut Mining Method

South Boulder Mines has finalised the open cut mining method to be used for the Colluli Potash Project in Eritrea.

By Proactive Investors,

SOUTH Boulder Mines (ASX:STB) has finalised the open cut mining method to be used for the Colluli Potash Project in Eritrea.

The project hosts a highly-favourably suite of potassium bearing salts for low cost production of potassium sulphate (SOP or sulphate of potash).

The open cut mining method decision follows the completion of a mine method analysis conducted by AMC Consultants for the Pre-Feasibility Study for the production of potassium sulphate.

Tests verify suitability of surface miners for extraction of Colluli salts, while also confirming surface miner capability to perform primary crushing.

The Colluli haul fleet configuration is finalised.  Continue reading South Boulder Mines Finalises Open Cut Mining Method

Afeworki Lays Store in Mining Despite the UN

UNFAZED. “The game-plan of Eritrea’s arch enemies are indeed simple: chisel at the edifice of the Government through dogged campaign of disinformation to ultimately delegitimize and criminalize the GOE to roll back history and Eritrea’s sovereignty. That is a pipe dream that will never happen – @hawelti

By African Intelligence,

ERITREAN President Issayas Afeworki is pushing for the rapid development of mining projects, without taking too much notice of the conclusions of a recent report by the United Nations Monitoring Group on Somalia and Eritrea (ESMG).

This report nevertheless singled out Hagos Gebrethiwet Maesho (known as Hagos Kisha), the director of economic affairs of the country’s ruling party, People’s Front for Democracy and Justice (PFDJ).

It suspects him of setting up “complex financial structures” that enable the Eritrean government to use revenue from the mining sector to finance the PFDJ and even to support military activity that “could constitute a violation of resolution 1907”.

This resolution was passed by the United Nations Security Council in December 2009; it decreed a variety of restrictions against the regime of Asmara and its leaders. Continue reading Afeworki Lays Store in Mining Despite the UN

Russia’s Ketina Mining to Focus on Gold and Base Metal Deposits in Eritrea

Ketina Mining SC is the first Russian-Eritrean joint venture in Eritrea

By TesfaNews,

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.

Basement rock in Eritrea covers more than 60% of the surface of the country. Continue reading Russia’s Ketina Mining to Focus on Gold and Base Metal Deposits in Eritrea