see Commodites...

see Commodites forum
http://www.hotcopper.com.au/post_single.asp?fid=279&tid=1011746&msgid=5679911

Page 33.
In much the same way as Burkina Faso goes under the radar , Eritrea is another country about which there is little sensation. Mines minister Ahmed Haj Ali presented at Africa downunder last month.
* Favourable incentives for investment , transparent tax system eg. income tax for miners 38% , import duty on input costs 0.5% , royality rate of 3.5% (Base) & 5% (Precious) metals , 0% on dividends plus carry forward rights on op.losses.
Ali said the EDM offered a " simple , 1 stop licencing system " Prospecting lic valid 1 year ( non renewable ) , Exploration lic for 3 + renewable twice ( 1yr each ) , ML valid 20 yrs + option of 2 x 10 yr renewals.

Ali said there were at least 6 foreign miners ( exploring or mining ) and another 7 had applications approved.
" With the advent of the entry of these mining and exploration companies , the contribution of the mining industry has started to pick up even before actual mining has started ".
Ali appealed to Australian explorers and miners to invest in Eritrea , pointing to its fairly developed road and port infrastructure , along with untapped resources that lay undiscovered within its ' highly prospective geology '.

" Added to the hardworking and trainable workforce " he said " the Eritrean government was peaceful , stable and corruption free ".

Page 19 - Chalice Gold Mines took the opportunity to host a welcome dinner in Perth for the Eritrean Mines Minister , Mr Ahmed Haj Ali and EDM's director general Mr Alem Kibreab.

Page 61 - half page of Mike Griffiths talking about Sub-Sahara merged with Chalice + Zara , Koka and Nevsun's Bisha project being a catalyst for mining development in Eritrea etc,etc etc...