Press Release by the Ministry of Energy and Mines concerning...

Press Release by the Ministry of Energy and Mines concerning License award
By Staff
Oct 2, 2007, 14:11


Eritrea has a significant endowment in minerals exploration and in recent years notable exploration successes have been made with world class gold, copper and zinc discoveries. To hasten the continued development of exploration opportunities in Eritrea, the Ministry of Energy and Mines has been reviewing applications for the award of exploration Licenses for gold, base metals and industrial minerals.

The Ministry is pleased to announce that it has recently issued two exploration Licenses for iron and base metals to Beijing Donia Resources Co. Ltd. in Defere (Central region) and Kenatib (Southern region), and gold and base metal exploration License to Eritrea-China Exploration and Mining Share Company (J.V Company) in Augaro (Gash-Barka region).

The Augaro License area includes the largest colonial era gold mining operation in Eritrea and early stage exploration in recent times has shown that the area has potential for further discoveries.

The Ministry looks forward to continuing its review of new applications for exploration Licenses throughout Eritrea. The Ministry further looks forwards to concluding its active review and discussions with Nevsun Resources concerning its application for a Mining License for the Bisha project in Gash-Barka region.

The Government of Eritrea is committed to build a modern and efficient mining industry to harness its mineral wealth in partnership with both local and international mining development businesses and organizations from all corners of the world as is reflected in these recent agreements.

Ministry of Energy and Mines
Asmara
October 02, 2007