Tag Archives: Eritrea Mining

Namibian Copper Acquires two Advanced Stage Exploration Projects in Eritrea

Namibian Copper NL will now develop the Hambuk and Kerkebet projects in Eritrea

By Proactive Investors,

An Austarialian mining company, Namibian Copper (ASX: NCO), has acquired two prime, advanced stage exploration projects that include Mogoraib River / Hambok project and Kerkebet Exploration Licences .

Mogoraib River is located immediately along strike and to the south of the Bisha gold and copper mine. Kerkebet River contains a new high grade gold discovery at Aradaib and is located along strike to the north of Bisha.  Bisha is operated by Nevsun (TSX: NSU), is capitalized at C$779 million and is the largest mining project in Eritrea.  Continue reading Namibian Copper Acquires two Advanced Stage Exploration Projects in Eritrea

Chinese Company Acquired Chalice’s 60% Stake in Eritrea

Chalice Gold goes Red for China

By Chalice Gold Mines,

Chalice Gold Mines (ASX: CHN; TSX: CXN) announces that it has entered into a conditional shortform agreement (the “Agreement”) to sell its remaining 60 per cent stake in the Zara Project in Eritrea to China SFECO Group (SFECO), a subsidiary of Shanghai Construction Group Co. Ltd.
This follows the agreement in July 2011 pursuant to which Chalice agreed to sell a 30% interest in the Zara Project to the Eritrean National Mining Corporation (“ENAMCO”) which is in addition to the 10% carried interest in the project already held by ENAMCO. Continue reading Chinese Company Acquired Chalice’s 60% Stake in Eritrea

South Boulder’s Colluli DFS Expedited with A$10.1m Capital Raising

South Boulder's Colluli Deposit in Eritrea will be the biggest and closest Potash supplier to emmerging markets like India, China and the rest of Asia Markets

By Angela Kean,

South Boulder Mines (ASX: STB) will accelerate the completion of the Definitive Feasibility Study (DFS) on the Colluli Open Cut Potash Project in Eritrea with a planned capital raising of A$10.1 million.

The company will exit a trading halt this morning after announcing the non-renounceable entitlement offer of up to 9.2 million shares at $1.10 per share on the basis of one new share for every 10 held.

The company is also offering one attaching unlisted option for every two new shares subscribed for, exercisable at $1.60 each and expiring 12 months after the date of issue. Continue reading South Boulder’s Colluli DFS Expedited with A$10.1m Capital Raising

Nevsun Q3 Gold Output Rises by 18 Percent

Nevsun's Bisha mine in Eritrea has so far produced around 319,000 ounces of Gold worth US $478.5M @$1500/oz
By TesfaNews,
Nevsun Resources Ltd. (TSX: NSU / NYSE Amex: NSU) is pleased to announce strong production results of 110,000 ounces of gold for the quarter ending September 30, 2011.  Year-to-date the Bisha Mine in Eritrea has produced 278,000 ounces of gold, including 41,000 ounces during the commissioning phase early this year. Continue reading Nevsun Q3 Gold Output Rises by 18 Percent

South Boulder Mines Announces a 130% Increase in Colluli Potash Resource

South Boulder Mines (ASX: STB) continues to deliver a positive news flow from the Colluli Potash Project in Eritrea, with today no exception.

After several drilling tests at Eritrea’s Colluli potash project, South Boulder increases its resources estimate by 130% to 564.40Mt @ 18.60% KCl

By Proactive Investors,

South Boulder has boosted the Measured and Indicated resource categories 130%, boosting the overall JORC Resource to 564.40 million tonnes at 18.60% KCl for 104.96 million tonnes of contained potash – which is easily extractable due to being within 100 metres of the surface.

The significance of the confidence upgrade is that the new resource will underpin the Definitive Feasibility Study, along with potential new ore reserve calculations.

Another plus for South Boulder is that the latest results continue to support the Exploration Target of 1.25 to 1.75 billion tonnes at 18-20% sylvinite KCl. Continue reading South Boulder Mines Announces a 130% Increase in Colluli Potash Resource