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