Tag Archives: Zara Gold Project

Zara Gold Mine Starts Commercial Production

Zara Gold Mine eritrea
Eritrea’s second modern commercial gold mine going operational

By TesfaNews,

The Koka gold mining project, located within the Zara project area in Eritrea and operated by Zara Mining Share Company (ZMSC), have started commercial production of gold.

ZMSC, a joint venture company established between China SFECO Group (60%) and the Eritrean National Mining Corporation ENAMCO (40%), have already sent its first gold pour to China worth millions of dollars. Continue reading Zara Gold Mine Starts Commercial Production

US$83.5 million to Fund Zara Gold Project

SFECO Group is one of the six massively investing Chinese companies in Eritrea

By TesfaNews,

Zara Mining Share Company (ZMSC) have entered in to an Engineering, Procurement and Construction (EPC) contract to commence construction work on the Zara Gold Project in Eritrea.

The EPC contract that amounts approximately $83.58 million for a two-year construction period was signed between ZMSC General Manager Mr. Michael P. Kelly and Mr. Zhang, CEO of Foreign Economic Group.

ZMSC is a joint venture company established between China SFECO Group (60%) and the Eritrean National Mining Corporation ENAMCO (40%).  Continue reading US$83.5 million to Fund Zara Gold Project

SFECO Group Won Machinery Supply and Power Plant Extension Contracts

SFECO Group is one of the six massively investing Chinese companies in Eritrea

BY TESFANEWS

The increasingly aggressive Chinese investment group in Eritrea, SFECO, again won the second phase of supplying various machinery and equipment worth 61.54 million USD.

It also won another multi-million dollar EPC contract for Hirgigo Power Plant  2*23MW Extension project.

Eritrea’s ambassador to China, Mr. Tsegai Tesfazion and Vice-President of China SFECO Group, Mr. Zheng Yufeng signed the contract last week, in Beijing on behalf of the two sides.  Continue reading SFECO Group Won Machinery Supply and Power Plant Extension Contracts

Chalice Hits High Grade 39.25g/t Gold in Eritrea

Further High Grade Gold Hits will enhance the Zara Project

By Chalice Gold,

Chalice Gold Mines (ASX: CHN; TSX: CXN) and Zara Mining Share Company (Chalice 60%, ENAMCO 40%) are pleased to announce that new drilling results have confirmed extensions to the high-grade mineralisation at the emerging Koka South discovery, located immediately south of its flagship Koka Gold Deposit, part of the Zara Gold Project in northern Eritrea.

Results have now been received for a further two holes that were drilled to the south of previous drilling with both holes returning high-grade intersections, including: Continue reading Chalice Hits High Grade 39.25g/t Gold in Eritrea