Mining News & Discussion Thread | Oil, Minerals, Gas, etc. [Archive]

Simfan34

November 16th, 2009, 06:06 PM

Miner says struck gold in Ethiopia
Mon 26 Mar 2007, 13:38 GMT

ADDIS ABABA (Reuters) - A mining company said on Monday it had found an estimated 10,000 tonnes of gold in southern Ethiopia that could be worth more than $1 trillion.

Privately-owned National Mining Corporation (NMC) said the discovery was made at Dawa Dagiti in southern Oromia region.

File Photo: Gold Wikipedia

"When production starts the country could earn up to $1 trillion from gold exports that would help its development," NMC administrator Melaku Beza told a news conference in Addis Ababa.

He gave no more details. Gold is one of Ethiopia's top hard currency earners, along with coffee, hides and skin.

NMC, owned by Saudi tycoon Mohammed Hussein Al-Amoudi, has concession right to explore for minerals in 85 square kilometres in the area. Melaku said the company was also studying evidence of large silver deposits in northern Amhara and Tigray regions.

Fossil fuel energy resources of Ethiopia: Coal deposits

Ahmed Wolela

The gravity of Ethiopian energy problem has initiated studies to explore various energy resources in Ethiopia, one among this is the exploration for coal resources. Studies confirmed the presence of coal deposits in the country. The coal-bearing sediments are distributed in the Inter-Trappean and Pre-Trap volcanic geological settings, and deposited in fluvio-lacustrine and paludal environments in grabens and half-grabens formed by a NNE–SSW and NNW–SSE fault systems. Most significant coal deposits are found in the Inter-Trappean geological setting. The coal and coal-bearing sediments reach a maximum thickness of 4 m and 300 m, respectively. The best coal deposits were hosted in sandstone–coal–shale and mudstone–coal–shale facies. The coal formations of Ethiopia are quite unique in that they are neither comparable to the coal measures of the Permo-Carboniferous Karroo Formation nor to the Late Devonian–Carboniferous of North America or Northwestern Europe. Proximate analysis and calorific value data indicated that the Ethiopian coals fall under lignite to high volatile bituminous coal, and genetically are classified under humic, sapropelic and mixed coal. Vitrinite reflectance studies confirmed 0.3–0.64% Ro values for the studied coals. Palynology studies confirmed that the Ethiopian coal-bearing sediments range in age from Eocene to Miocene. A total of about 297 Mt of coal reserve registered in the country. The coal reserve of the country can be considered as an important alternative source of energy

Tis Abay International PLC focuses on the production and marketing of the building materials. The company has won a mining concession to exploit marble in a western Ethiopian state for 20 years. It is predicted that the amount of storage in the mine is 84 million tons. The company now intends to employ Chinese technicians who are good at exploiting and processing marble for six months and meanwhile looks forward to cooperating with Chinese enterprises.

More stories to be posted- all can contribute!

Yoniii

November 17th, 2009, 10:02 AM

Gold: Good news, if it's true. Most of it will go to Mohammed and Saudi Arabia tho.

yosef

November 17th, 2009, 11:24 PM

Hopefully, the Ethiopians can keep a lot of this gold and not export it all. I think gold will continue to increase in value (given what so many countries are doing to their currencies right now).

thats something I thought about also, might be the better way to go

abesha

November 20th, 2009, 04:43 AM

I'm sure there are many more deposits of all sorts of resources. Ethiopia is most probably the least explored country in Africa. There must be tons of minerals, oil, gas, etc deposits just waiting to be found. Hopefully the rewards will be for the entire population, and not a minority.

Tewodros

November 25th, 2009, 08:59 PM

Do not trust such news, they could be fairy tales for the sake of propaganda and to promote the government, and also be suspicious if those who report such stories are western agencies and media outlets like reuters and the economist, Meles Zenawi,the traitor and dictator pays tens of thousands USD or more for western media to report such news about his regime. And the western media is willing to spread such lies and propaganda because Meles Zenawi is their boy or their agent in Ethiopia. :weird:

I'm sure there are many more deposits of all sorts of resources. Ethiopia is most probably the least explored country in Africa. There must be tons of minerals, oil, gas, etc deposits just waiting to be found. Hopefully the rewards will be for the entire population, and not a minority.

Yoniii

November 26th, 2009, 11:51 AM

Do not trust such news, they could be fairy tales for the sake of propaganda and to promote the government, and also be suspicious if those who report such stories are western agencies and media outlets like reuters and the economist, Meles Zenawi,the traitor and dictator pays tens of thousands USD or more for western media to report such news about his regime. And the western media is willing to spread such lies and propaganda because Meles Zenawi is their boy or their agent in Ethiopia. :weird:
I understand that you are frustraded about the situation in Ethiopia, I think most of us are, but do you have proof that Meles bribes western media?

Tewodros

November 27th, 2009, 10:14 PM

You mean if the likes of reuters and the Economist have informed the public that they receive money to print such stories ?
Well those are struggling companies nowadays and they use every opportunity they get to earn money, and when they have a common interest with their client to do what they are supposed to do, that is excellent.

By the way A mining company said on Monday it had found an estimated 10,000 tonnes of gold in southern Ethiopia that could be worth more than $1 trillion.
is not quite correct, 10 million Kg gold can not be 1 trillion USD worth.

I understand that you are frustraded about the situation in Ethiopia, I think most of us are, but do you have proof that Meles bribes western media?

Simfan34

November 27th, 2009, 10:51 PM

By the way is not quite correct, 10 million Kg gold can not be 1 trillion USD worth.
When gold is worth $1000+/oz, yes it can! :lol:

desert burner

November 29th, 2009, 02:11 PM

go Ethiopia :cheers::applause:

abesha

February 15th, 2010, 03:30 PM

Nyota Minerals’ reflects on busy and exciting time at Tulu Kapi Gold Project

In a letter to investors, Nyota Minerals’ (AIM, ASX: NYO) Chief Executive Melissa Sturgess said that the last few months had been “a busy and exciting time”, particularly for the development of the flagship Tulu Kapi gold project, in Ethiopia. Sturgess highlighted the recent preliminary scoping study, conducted by Venmyn Rand, which demonstrated Tulu Kapi’s potential as a viable gold mine based on current resources. Furthermore the Chief Exec emphasised that the company hopes to increase the resource significantly through the ongoing drilling campaign.

Sturgess also remarked on the Nyota’s continued success from its metallurgical testing at Tulu Kapi, ‘the results of the metallurgical testwork have been extremely encouraging, with indications being that gold recoveries of over 95% are potentially possible’. According to Strugess metallurgical results to date had not only exceeded the figures from the Venmyn study, but the apparent ease with which the gold can be separated suggests that capital and operating costs could also be lower than originally estimated.

At Tulu Kapi, the ongoing drilling programme is currently achieving drilling rates of approximately 160m per day, in line with Nyota’s expectations. The program is intended to expand the current resource base and to upgrade the initial maiden resource estimate to the Measured and Indicated JORC category.

Nyota’s Chief Executive also noted that Ethiopia is set to gain international recognition as an attractive destination for mining opportunities, as it develops into a confident economy in its own right. “We have found the operating environment to be very good in terms of the ease of doing business, proactive attitude of the government and general friendliness of the people”, Sturgess concluded.

The Venmyn pre-scoping study, released on 2 February, indicated that Tulu Kapi is economically viable and concluded that open pit mining would be most likely.

The study was based on Tulu Kapi’s current mineral resource and a flat gold price of $950 per ounce. The study calculated payback of capital within 4-5 years from the date of first production.

http://www.proactiveinvestors.co.uk/companies/news/13321/nyota-minerals-reflects-on-busy-and-exciting-time-at-tulu-kapi-gold-project-13321.html

Ahadu

March 20th, 2010, 07:21 AM

Seismic Survey Ethiopia 2007

njmdb9wjIe0

abnet

March 20th, 2010, 09:53 PM

thank you ahadu for the video! it looks like very challenging and hard work to look for black gold. and in ogaden case dangerous too. there is a shortage of road and infrastracture in that area, and when the rain came it just flood the area and create more problem as you can see on the picture below.
http://lh5.ggpht.com/_5Wt6l6jruUE/SvwdV6ExTKI/AAAAAAAAGM0/hXr6OwQtdqU/s912/20091023-7532-1.JPG
http://lh4.ggpht.com/_5Wt6l6jruUE/SvwdaWu6CXI/AAAAAAAAGM4/1AvlxVT-JAk/s912/20091023-7533-1.JPG
http://lh5.ggpht.com/_5Wt6l6jruUE/Svwdf7uFEPI/AAAAAAAAGNA/B3U4OjJTIu8/s912/20091023-7539.JPG
http://lh4.ggpht.com/_5Wt6l6jruUE/Svwd5j5lSWI/AAAAAAAAGNc/fOwPK88ON9I/s912/20091025-7667.JPG
http://lh6.ggpht.com/_5Wt6l6jruUE/SvweWI55OvI/AAAAAAAAGOI/3t471Ep9HSA/s912/20091026-7731.JPG
http://lh5.ggpht.com/_5Wt6l6jruUE/SvwfdvZOhRI/AAAAAAAAGPU/lc1-kIzuHmA/s640/20091029-8003.JPG
http://lh4.ggpht.com/_5Wt6l6jruUE/Svwfh12oqgI/AAAAAAAAGPY/naNQdjilvew/s912/20091029-8007.JPG
http://lh4.ggpht.com/_5Wt6l6jruUE/SvwhQ6YkiEI/AAAAAAAAGRU/JleqWBPp_Xc/s640/20091009-7033.JPG
convoy to calub base.
http://lh3.ggpht.com/_5Wt6l6jruUE/S3r-ycxfBrI/AAAAAAAAG_I/ATUtovijOv0/s912/20100201-8447.JPG
kelafo base.
http://lh6.ggpht.com/_5Wt6l6jruUE/S3r--zTQaeI/AAAAAAAAG_o/xXZzAlzZc2c/s912/20091215-8353.JPG
the final result :cheers:
http://lh6.ggpht.com/_5Wt6l6jruUE/S3r_Dcc2AgI/AAAAAAAAG_0/beJU8VGZqzk/s640/20091218-8375.JPG

Ahadu

March 21st, 2010, 01:24 AM

abnet - thanks for the pics.

I think it is wrong to call Ogaden a desert!

Even the "desert" in Ethiopia is so rich in rain and rivers. By traping those flash floods, a year-to-year lake is possible.

http://lh4.ggpht.com/_5Wt6l6jruUE/Svwfh12oqgI/AAAAAAAAGPY/naNQdjilvew/s912/20091029-8007.JPG

abesha

March 29th, 2010, 02:23 PM

Stratex reports encouraging gold sampling results at Megenta, doubles land portfolio in Ethiopia

Stratex International (AIM: STI) has doubled its Ethiopian portfolio to 3,142 sq km (square kilometres) while reporting encouraging geochemistry results from its Megenta gold discovery in the Afar region of the country, with chip sampling returning grades of up to 3 g/t (grammes per tonne) gold.

Shares in the company jumped 7.4% on the news.

The new exclusive exploration licenses (EELs) spanning over 1,562 sq km are located in the Afar region and in the Tigray area in northern Ethiopia, east of Stratex’ Shehagne gold project. The current EEL in the Afar epithermal district was extended by 666 sq km to take the total land package in the region to 2,245 sq km. The Tigray EEL covers 897 sq km of what the company said was “favorable ground.”

Stratex has commenced geological mapping and rock sampling over the Tigray concession with regional minus 200 mesh stream sediment sampling planned for Q2/Q3 2010. The company said that recent results from its Shehagne project and the interest shown by other companies including Sunridge Resources and Antofagasta Minerals in Eritrea highlighted the potential of the large tract of ground for early discovery.

Meanwhile, the samples from Megenta returned a high of 3g/t Au at only 20 metres below the paleosurface from a zone of chalcedonic silica veins; other results included values of 0.667 g/t gold and 0.525 g/t gold, which Stratex called “highly encouraging values for this high level of the system,” saying they indicated potential for a high grade system at depth.

“Having received encouraging geochemistry results from our Ethiopian gold discovery, Megenta, in the Afar region, we are delighted to further consolidate our ground position and utilise our early-mover advantage, in what we believe is an emerging gold region,” said executive chairman of Stratex David Hall.

The Megenta hot spring gold prospect will now be the focus of a six week detailed mapping and sampling programme aimed at defining drill targets for Q3 2010.

Stratex has increased its portfolio of gold assets in Turkey and Ethiopia to 1.17 Moz (million ounces) across all categories of JORC standard during 2009.http://www.proactiveinvestors.co.uk/companies/news/14984/stratex-reports-encouraging-gold-sampling-results-at-megenta-doubles-land-portfolio-in-ethiopia-14984.html

yosef

March 29th, 2010, 05:23 PM

^^ Oh wow, now in Afar also.... thats good to hear.

abnet

June 18th, 2010, 02:24 AM

africa oil co. to acquire south omo block in ethiopia

press release

June 17, 2010, 9:28 a.m. EDT · Recommend · Post:
Africa Oil Signs Agreement to Acquire South Omo Block in Ethiopia

VANCOUVER, BRITISH COLUMBIA, Jun 17, 2010 (MARKETWIRE via COMTEX) -- Africa Oil Corp. ("Africa Oil" or "the Company") /quotes/comstock/11v!aoi (CA:AOI 1.28, +0.07, +5.79%) is pleased to announce that it has signed a Farmout Agreement and Joint Venture Agreement with Agriterra Ltd. (formerly White Nile Ltd.) to acquire an 80% participating interest and operatorship of the South Omo Block in Ethiopia.

South Omo represents a new opportunity for Africa Oil to secure a highly prospective block in the Omo Rift Valley of south-western Ethiopia. The block spans 29,465 square kilometres and is within the Tertiary age East African Rift, just north of Lake Turkana, Kenya and within the same petroleum system as the Company's Kenya Block 10BB and Tullow's Uganda discoveries. Please see attached map, http://media3.marketwire.com/docs/aoi0617map.pdf .

Pursuant to the Farmout Agreement, to earn its 80% participating interest, Africa Oil would pay 80% of past costs incurred by Agriterra, to a maximum of US$2,517,000, and fund 100% of the costs associated with a work program comprised of 500 kilometres of 2D seismic, a field geology program, and a surface geochemistry program. Total cost exposure for this work program is estimated at $6.5 MM USD with the majority of these costs to be incurred in the first half of 2011.

Africa Oil President and CEO Keith Hill commented, "The addition of the South Omo block brings the total gross acreage on which the Company has signed agreements on to almost 250,000 square kilometres and gives us a dominant land position in the highly prospective East Africa Tertiary Rift trend. We currently have two seismic crews and one drilling rig active and are expecting to test all major play types within the next 12 to 18 months. The increased activity in East Africa will also allow us to attract international partners to reduce the risk capital required to explore these highly prospective rift basins."

Completion under the Farmout Agreement is conditional on the parties obtaining Ministerial consent and all requisite regulatory, third party and Ethiopian Government approvals.

Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya, Puntland (Somalia) and Ethiopia. Africa Oil's East African holdings are in what is considered a truly world-class exploration play fairway. The Company's total gross land package in this prolific region is in excess of 225,000 square kilometers - an area roughly the size of Great Britain. The East African Rift Basin system is one of the last of the great rift basins to be explored. New discoveries have been announced on all sides of Africa Oil's virtually unexplored land position including the major Heritage/Tullow Albert Graben oil discovery in neighbouring Uganda. Similar to the Albert Graben play model, Africa Oil's concessions have older wells, a legacy database, and host numerous oil seeps indicating a proven petroleum system. Good quality existing seismic show robust leads and prospects throughout Africa Oil's project areas. The Company is listed on the TSX Venture Exchange under the symbol "AOI".

SOURCE: Africa Oil Corp.
Copyright © 2010 MarketWatch, Inc. All rights reserved.

abnet

June 27th, 2010, 03:07 AM

This picture is from march this year in ogaden . the crews accomodation in the desert.
http://lh3.ggpht.com/_5Wt6l6jruUE/S68zme3WxJI/AAAAAAAAHaw/3C-SEPyT6vM/s912/201003270143.JPG

http://lh3.ggpht.com/_5Wt6l6jruUE/S68ziZ_6zyI/AAAAAAAAHao/1QnH5F1up_Q/s912/201003270125.JPG

http://lh3.ggpht.com/_5Wt6l6jruUE/S68zeHtTwYI/AAAAAAAAHag/n65QDUc5j88/s912/201003260104.JPG

http://lh4.ggpht.com/_5Wt6l6jruUE/S68zTfYTnNI/AAAAAAAAHaM/O472Pb24joY/s640/201003260093.JPG

http://lh6.ggpht.com/_5Wt6l6jruUE/S68y-1M3UwI/AAAAAAAAHZs/iPc-ajwrVOk/s912/201003260081.JPG
The base.
http://lh3.ggpht.com/_5Wt6l6jruUE/S68ybAabzkI/AAAAAAAAHYs/LVtsVgL-Tss/s912/DSC00091.JPG

http://lh4.ggpht.com/_5Wt6l6jruUE/S68yXNF0TKI/AAAAAAAAHYo/or3dUHXJcoc/s912/DSC00090.JPG
source picassaweb kinnie.

abesha

July 2nd, 2010, 12:58 PM

Petronas May Begin Ethiopian Gas Exports in 2015, Ministry Says

July 2 (Bloomberg) -- Petroliam Nasional Bhd., Malaysia’s state-owned oil company, may begin exporting natural gas from Ethiopia in five years, when production starts at a plant it is building in the country, a Mines Ministry official said.

Fields being developed by Petronas in Ethiopia contain as much as 4 trillion cubic feet of gas, Eshetu Chala, senior economist at the Addis Ababa-based ministry, said in an interview yesterday in Kampala, Uganda. Annual production figures have yet to be determined, he said.

“After five years Ethiopia will become a producer of natural gas,” Chala said. “Our focus is on the export sector since the local market will consume little.”

Petronas paid $80 million in 2007 for the rights to develop the Calub and Hilala gas fields in Ethiopia’s Ogaden basin, according to the Reporter, an Addis Ababa-based newspaper. The Malaysian company may also build a gas-treatment plant and a gas pipeline to a port in neighboring Djibouti at a cost of $1.9 billion, the newspaper said.

“Drilling is going on, but the output capacity will be determined after an appraisal of reserves,” said Chala.

The Reporter said last month that Petronas suspended work in the Ogaden basin because of security problems. The suspension came after a British geologist was killed in April by bandits, it said. In May, the rebels said they had captured the Hilala gas field. The government denied the attack, saying the fighters were “fabricating rumors.”

Azman Ibrahim, a spokesman for Petronas in Kuala Lumpur, didn’t respond to a voicemail request for comment when called outside normal business hours. Rizan Ismail, Petronas’s country manager for South Africa, didn’t return a call seeking comment.

Rebels

Ethnic Somali rebels from the Ogaden National Liberation Front are seeking independence for the Ogaden region, an arid area twice the size of England largely inhabited by nomads. In April 2007, the group attacked a Petronas exploration site operated by China’s Zhongyuan Petroleum Exploration Bureau, killing nine Chinese workers and 65 Ethiopians.

Ethiopia has issued 16 natural gas concessions to nine companies, with Petronas the only one in a “more advanced” stage of development, Chala said. The country has six exploration basins covering 350,000 square kilometers (135,136 square miles), he said.

--With assistance from William Davison in Addis Ababa. Editors: Paul Richardson, Heather Langan.

To contact the reporter on this story: Fred Ojambo in Kampala via Johannesburg at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at [email]asguazzin@bloomberg.net.

http://www.businessweek.com/news/2010-07-02/petronas-may-begin-ethiopian-gas-exports-in-2015-ministry-says.html

2015 is a long way away, but better late than never.

The Nomadic Warrior

July 2nd, 2010, 07:14 PM

This is going to be interesting to say the least.

Let's see what happened over this few months

British geologist was killed in April
Oil Fields Attacked
Oil Exploration suspended
TPLF elections
ONLF peace deal
Media blockade still enforced
Oil Exploration to restart

Petronas did suspend work in the Ogaden basin because of security problem. So the ONLF strategy was working, then all suddenly the TPLF announce a peace deal with the ONLF. Why would ONLF all suddenly abandon the their goal with results.

ONLF said they only agreed to talks if held in another country. Yet these talks happened in Ethiopia, and recently journalist expelled from Ogaden for contacting rebels. This is all pointing to lies. Ethiopian government is definitively lying to Oil companies about their safety in the Ogaden.

This project will only go ahead if it benefits the Ogaden people, but it won't. It will only lead to more violence and resistance

abesha

July 2nd, 2010, 08:52 PM

I thought the talks were in Germany?

Anyway, the project would actually benefit the people of the Ogaden a lot more if the region was at peace.

We'll see how it goes.

Ahadu

July 3rd, 2010, 12:54 AM

Let's see what happened over this few months
British geologist was killed in April
Oil Fields Attacked
Oil Exploration suspended
TPLF elections
ONLF peace deal
Media blockade still enforced
Oil Exploration to restart

Petronas did suspend work in the Ogaden basin because of security problem. So the ONLF strategy was working, then all suddenly the TPLF announce a peace deal with the ONLF. Why would ONLF all suddenly abandon the their goal with results.

ONLF said they only agreed to talks if held in another country. Yet these talks happened in Ethiopia, and recently journalist expelled from Ogaden for contacting rebels. This is all pointing to lies. Ethiopian government is definitively lying to Oil companies about their safety in the Ogaden.

This project will only go ahead if it benefits the Ogaden people, but it won't. It will only lead to more violence and resistance
^^:nuts:.....that's a total assault on my visual senses. Can't see!

I am giving up hope with my fellow country men and women. I am now seriously considering taking euthanasia! Sick with so many pathetically ill-bred-mules around.

Ras Siyan

July 3rd, 2010, 05:53 PM

Theis jbdjnfd jdbkd:nfld jsdbdknf ;f ksnvg kfgsrlgnz jlrngknglzrkgn fjnsklnlnilrn kjhfnlakeihfb zop

Ras Siyan

July 3rd, 2010, 06:09 PM

Theis jbdjnfd jdbkd:nfld jsdbdknf ;f ksnvg kfgsrlgnz jlrngknglzrkgn fjnsklnlnilrn kjhfnlakeihfb zop

Sorry for that...

Wow this is great news for Ethiopia. If handled well, I think it will benefit the whole country including the Somali Region.
Any news about how much is expected to be earned from the Gas exports? Ethiopia needs cash to upgrade its infrastructures and fight poverty, really hope they manage it well. I hope this will turn into a blessing for the country rather than a curse.

I notice that a pipeline and a treatment facility are planned by the company in Djibouti. Hope that will contribute to making Djibouti a regional hub and strengthen its position as the gateway to the larger hinterland.

abesha

July 3rd, 2010, 06:19 PM

^^ I'm pretty sure the treatment plant will be in Ethiopia. The sentence is written ambiguously, but it would be very strange if it's not built there.

The amount earned will depend on the output and the price of gas on the market at the time it's pumped out, so it will be far in the future before we know.
In the article, they say that the expected output is still being worked out because they are still trying to find out the total reserves. So once they determine that, we'll know the daily output.

Vildana

July 3rd, 2010, 08:04 PM

Proven reserve is around 4 trillion cu.feet.
NYMEX natural gas price for august delivery is around 4.6 dollars pr MMBTU.
1MMBTU=1000 cu. feet, now you can do the math

enkelfam

July 3rd, 2010, 08:39 PM

Proven reserve is around 4 trillion cu.feet.
NYMEX natural gas price for august delivery is around 4.6 dollars pr MMBTU.
1MMBTU=1000 cu. feet, now you can do the math

If these numbers are right and stay the same after 5 years ... it will come up to 4.6*(4*10^9 MMBTU) = $18.4Billion US

The Nomadic Warrior

July 11th, 2010, 06:00 AM

A couple of weeks later

Petronas Drilling Crew Withdrawing From Ogaden

http://www.ezega.com/News/NewsDetails.aspx?Page=heads&NewsID=2453

e Malaysian oil company, Petroliam Nasional Berhad (Petronas), which is prospecting for oil and gas reserves in the Ogaden basin, south eastern part of Ethiopia, is demobilizing its drilling crew, according to Ethiopian Reporter.

There is speculation that the company will pull out from Ethiopia. Previously, Petronas relinquished its concession in the Gambella basin, south-western part of Ethiopia, near the Sudanese border, after drilling two exploration wells that turned out dry. Another exploration well drilled by the company last year in the Ogaden basin in the Genale locality also turned out to be dry.

In addition to Petronas's recent announcement to cut back on overseas exploration project and concentrate on exploration works in Malaysia, the security problem in the Ogaden has made the public to speculate that the company would pull out from Ethiopia.

A senior official at the Ministry of Mines and Energy (MoME) denied the rumor to the effect that Petronas was to abandon its exploration blocks in the Ogaden. “After drilling the second well in the Ogaden basin near the Hilala gas field, the company suspended work on the field with the view to interpreting and analyzing the data obtained from the well,” the official said.

The senior official of MoME said that Weather Ford, which accomplished its task, was demobilizing its drilling rig and other machineries from Ogaden to the Port of Djibouti. “Since there will not be drilling work that will be undertaken by Petronas in the near future, it is not viable to keep the drilling crew and machineries idle, which are expensive. So the subcontractor is leaving but will come back when Petroans is ready for another round of drilling work,” he concluded.

However, some Petronas employees told The Reporter that they were told by management that they will be working only for the next six months.

Like I said, Ethiopian government is lying to foreign investors about the safety of the Ogaden and other regions

abesha

July 11th, 2010, 09:20 AM

^^ If the company withdraws, Ogadenis are the ones who will be hurt the most.

Besides, it's not like it was going to be bringing in billions of dollars every year, it's too small a field.

Nomadic Warrior, it saddens me to see that you are happy by war and destruction. It's really a shame. The reality is, the Ogaden will remain part of Ethiopia for the foreseeable future. The area is not viable as a country on its own, that is a fact.
Second, giving the Ogaden independence means yet another border issue for Ethiopia, which we will not be okay with. Third, it will destabilize Kenya as well. Fourth, Somalia is a mess, who the heck will truly believe that the Ogaden won't go down the same path?

There will never be international support for the independence of that region. It would be to your advantage to grow the region as part of Ethiopia. Instead, you have the same mentality as communism - let's all be poor together. Just sad.

The Nomadic Warrior

July 11th, 2010, 11:12 AM

If the company withdraws, Ogadenis are the ones who will be hurt the most.

Besides, it's not like it was going to be bringing in billions of dollars every year, it's too small a field.

It wouldn't have hurt the Ogadenis since it wouldn't have benefited them at the start. The Oil companies would have just add more money to the TPLF war machine. Hence, why Oil companies leaving is an success for all Ethiopians.

Look at South Sudan and Niger Delta. Both Oil rich regions yet they hardly benefit from it. While the government using the money to benefit people from the North just like Ethiopia would.

Nomadic Warrior, it saddens me to see that you are happy by war and destruction. It's really a shame.

War and destruction was brought to the Ogaden people not the other way around. Did we invite Ethiopians to the Ogaden?

It was the Ethiopians who came to the Ogaden and brought war, destruction and diseases. Look at history before you speak.

The reality is, the Ogaden will remain part of Ethiopia for the foreseeable future. The area is not viable as a country on its own, that is a fact.

Fertile land, two rivers, natural resources, close to two major ports. Ogaden would do fine on it's own.

Second, giving the Ogaden independence means yet another border issue for Ethiopia, which we will not be okay with. Third, it will destabilize Kenya as well. Fourth, Somalia is a mess, who the heck will truly believe that the Ogaden won't go down the same path?

If the Ogaden succeed, why would there be another border issues? Who is at fault here? It would be Ethiopia. Just like how Ethiopia is currently occupying Eritrean land

Ogaden separating wouldn't destabilize Kenya at all.

Ogaden is and always has been the heart of the Somali unrest. It's Ethiopia who is currently funding warlords and militia groups in Somalia to prevent the formation of an government. If the Ogaden succeed, Somalia would be at peace.

There will never be international support for the independence of that region. It would be to your advantage to grow the region as part of Ethiopia. Instead, you have the same mentality as communism - let's all be poor together. Just sad.

Why do we need international support for the independence of that region?

Article 39 is in the Ethiopian constitution. Which allows all regions to self determination.

More Chinese involvement in Ethiopia would mean more USA support for ONLF. Just look at what happening in Sudan. China is entitled to all the Oil in South Sudan. USA is backing the South Sudan independence push.

Meles recently threaten to cut off USA-Ethiopia ties. USA will change it current view on ONLF if Meles dares to actually do it.

Why do we have to be together at first?

We don't have one single thing that makes us close except the colour of our skin.

abesha

July 11th, 2010, 12:02 PM

I didn't read your reply and I'm not going to waste my time doing a back and forth. We will never see eye to eye so there is no point.

Tarrex

July 11th, 2010, 12:43 PM

I don't think petronas would just leave like that, they have invested too much to just let it go.

Simfan34

July 11th, 2010, 08:37 PM

And look at this!
http://img15.imageshack.us/img15/6501/rerich.png
If they're correct, Ethiopia could have the world's fourth-largest natural gas reserves!

Simfan34

September 13th, 2010, 07:07 PM

http://topnews.us/images/imagecache/main_image/tullow-oil_0.jpg

The British petroleum company, Tullow Oil, last Saturday announced its decision to prospect for oil in the south Omo valley, in southern Ethiopia. Tullow Oil discovered a huge deposit of crude oil in the Lake Albert basin in Uganda. Tullow said that it has signed an agreement with the Canadian oil company, Africa Oil, which enables them to jointly prospect for oil and gas in the South Omo Valley in Ethiopia and in different locations in Kenya.

Last year Africa Oil, the Vancouver-based company, bought exploration areas in the Ogaden basin, Kenya and Puntland. These concessions were previously held by Lundin Petroleum, the Swedish petroleum company. Recently, Africa Oil had also bought an exploration area covering 29,465 sq. km in the South Omo basin from White Nile, a British company.

Tullow Oil has bought a 50 percent stake in Africa Oil’s concession in Omo Valley and in four blocks in Kenya - 10BB, 10 A, 12A and 13T. The companies agreed to jointly prospect for oil and develop petroleum resources.

According to the agreement, Tullow Oil will reimburse the costs Africa Oil had incurred previously. The companies will share future exploration costs. Tullow Oil has discovered more than 2.5 billion barrels in the Uganda’s Albert basin.

Tullow Oil’s exploration manager, Mr. Angus McCoss, said that he was delighted with his company’s decision to extend its concessions in East Africa to Ethiopia and Kenya. Angus McCoss expressed his company’s commitment to explore the new areas in Ethiopia and Kenya with new partners. “Rift basins are the focus areas for Tuollow Oil and we hope to undertake a commendable job in Ethiopia and Kenya,” he said.

An industry analyst told The Reporter that the East Africa Rift System had an enormous oil potential. The East Arica Rift System covers Sudan, Ethiopia, Kenya, Tanzania and Uganda. The analyst said the oil discoveries in the Sudan in recent years and more recently in Uganda had attracted the attention of oil companies. Tullow Oil’s decision to work in Ethiopia and Kenya is a good news to the two countries.

Tullow Oil has 85 petroleum production sharing agreements and licenses in 23 countries in Africa, Europe, South America and South Asia. In Africa the company has petroleum inertest in Gabon, Mauritania, Congo Brazzaville, Côte d'Ivoire and Uganda. Africa Oil is engaged in oil exploration projects in Ethiopia, Puntland and Kenya...

African Lion

September 26th, 2010, 05:39 PM

I hope oil is discovered but in a geographically safe area, not the Ogaden for gods sake. I hope but dont think that we have enough to export but we might find enough for domestic consumption for decades to come. Then the country does not have to relay on hostile countries for oil.

abesha

October 6th, 2010, 05:07 AM

SouthWest Energy Agrees to Acquire PETRONAS Carigali's Oil and Gas Interests in Ethiopia

SouthWest Energy is pleased to announce that on 24 September 2010 it agreed to purchase from PETRONAS Carigali Overseas Sdn Bhd (PETRONAS Carigali), all of its oil and gas interests in Ethiopia. The transaction is expected to be completed during the first quarter of 2011 following the fulfilment of certain conditions precedent, including regulatory approval.

PETRONAS Carigali Overseas Sdn Bhd, which is the international exploration and production subsidiary of Malaysia’s national oil company, PETRONAS, is a party to five petroleum production sharing agreements (PSAs) for oil and gas exploration and production in Ethiopia. SouthWest Energy has agreed to purchase 100% of PETRONAS Carigali's interests in each of those PSAs. The blocks and contract areas covered by the PSAs are Blocks 3&4, 11&15, 12&16, 17&20 and the Calub & Hilala contract area. All of the blocks and contract areas are located southeast of Addis Ababa, in the Ogaden Basin, which covers 350,000 sq km and is the largest proven hydrocarbon bearing sedimentary basin in Ethiopia with proven gas reserves of 2-4 TCF.

"This is a fantastic opportunity for SouthWest Energy to expand its exploration and production activities in Ethiopia," said Tewodros Ashenafi, Chairman and CEO of SouthWest Energy. "This transaction will transform SouthWest Energy into the leading force in the Ethiopian upstream industry. We intend to develop these new blocks together with our existing blocks as quickly as possible and to work on developing transport solutions for hydrocarbons in the Ogaden Basin. This development will be a cornerstone not only for SouthWest Energy's future growth, but also for the oil and gas industry in Ethiopia."

Orrick, Herrington & Sutcliffe LLP is acting as SouthWest Energy's legal advisors on the transaction, and Standard Bank Plc is acting as SouthWest Energy's financial advisor.

About SouthWest Energy

SouthWest Energy (H.K.) Limited was formed in 2005 and is the only Ethiopian-owned company to successfully obtain an energy concession in Ethiopia. SouthWest Energy is currently developing Blocks 9, 9A and 13 in the Ogaden Basin under PSAs it entered into in 2005 and 2007. Further information about SouthWest Energy is available at www.sw-oil-gas.com.

Read more: http://www.financialpost.com/markets/news/SouthWest+Energy+Agrees+Acquire+PETRONAS+Carigali+Interests+Ethiopia/3628305/story.html#ixzz11XnfDrMq

I'm REALLY happy it's an Ethiopian-owned company. I hope they develop it ASAP. This is the type of stuff that will benefit us.

Here's Ato Tewodros

http://nazret.com/blog/media/blogs/new/4583961378_9e6b9ef910_m.jpg

Simfan34

October 6th, 2010, 12:21 PM

:banana::banana:

coastline

October 6th, 2010, 07:21 PM

So many of us say that Ethiopia has so much natural resources, but how many of us do we know the exact proven resources we have in terms of quantity and value in USD?

Just for knowledge I compiled the following informations from different sources

From Minerals and Hydroelectricity

http://coastlineethiopia.webs.com/mineral%20resource%20of%20Ethiopia.jpg

*Recently there is a 1 billion tons potash discovery in Dallol, which is worth over 500 billion USD. http://www.bloomberg.com/news/2010-09-23/allana-may-begin-extracting-ethiopian-potash-deposit-in-2013.html

From Agriculture
There are 75 million hectares of Arable Land which is fertile and the climate is suitable for cultivation of different kinds of food crops and cash crops. But unfortunately today it is 15 millions of these fertile land that is being cultivated.

If we assume half of the 60 million not yet cultivated is really good for crops, then there is a free available land of 30 million hectares for rain fed and 4.2 million for irrigation totaling 34.2 million hectares. See below what will happen if we put this land into use

http://coastlineethiopia.webs.com/agricultural%20potential.jpg

When we add the total annual yearly income we find that it is 71.19 Billion USD that is almost twice what Nigeria (world top 6th oil exporter) and Egypt exports and it is even more than what south Africa (the richest country in Africa and top diamond exporter in the world) exports. In 2009 south Africa exported 67.93 Billion USD http://en.wikipedia.org/wiki/Economy_of_South_Africa .

And when we compare this potential with ourself, we find that we only export 2.8 % of this potential, which is super low by any standard. Ethiopia exported 2 billion USD in 2009 http://en.wikipedia.org/wiki/Economy_of_Ethiopia

So now the question is if we have all these resources and have been proven so many years ago then why are we still one of the poorest countries in the world? I am sure Israel, created some 60 years ago, does not even have 5% of this resources yet there economy is 10 times bigger and their per capital is almost 100 times bigger than ours.

For not using our resources who is to blame? is it our people in general (lack of education, being conservative, low motive for work)? our kings, presidents & prime minister's lack of leadership skill? foreign countries interference like Egypt, Italy, Eritrea? the diaspora in general for not promoting our country, for not coming to Ethiopia to play thire role? Former Derg cadres scattered all over the world? EPRDF Cadres sctattred all over the country? Ethnic tensions? economic policy? Civil war? international donors and financiers like IMF and world bank? Developed countries? too much aid or too low aid?

Sources

www.gzccpit.org.cn/userfiles/201004/file/a58efa16-b290-4739-b2f8-e902e2ab1da4.doc (http://translate.google.com/translate?hl=en&sl=zh-CN&u=http://www.gzccpit.org.cn/userfiles/201004/file/a58efa16-b290-4739-b2f8-e902e2ab1da4.doc&ei=mZ6sTMycBo-M4gabjejdBw&sa=X&oi=translate&ct=result&resnum=1&ved=0CBQQ7gEwAA&prev=/search%3Fq%3Dwww.gzccpit.org.cn/userfiles/201004/file/a58efa16-b290-4739-b2f8-e902e2ab1da4.doc%26hl%3Den%26safe%3Doff%26sa%3DG%26biw%3D1280%26bih%3D685)

http://www.mome.gov.et/mineral.html

About Potash
http://www.chinamining.org/Investment/2010-03-26/1269573707d34968.html
http://en.wikipedia.org/wiki/Potash

About Gold
http://news.za.msn.com/african/article.aspx?cp-documentid=150805724

About soda ash
http://en.wikipedia.org/wiki/Lake_Abijatta
http://www.prnewswire.com/news-releases/fmc-increases-soda-ash-prices-103319694.html

About natural gas
http://en.ethiopianreporter.com/index.php?option=com_content&task=view&id=1419&Itemid=26
http://en.wikipedia.org/wiki/Natural_gas_prices

About Agriculture
http://www.ethemb.se/ee_investment_files/Agriculture%20investment%20potential%20of%20Ethiopia%5B1%5D.ppt%20amended.ppt

About Sugar and Ethanol
http://www.etheja.com/index.php?option=com_content&view=article&id=96:the-business-environmental-potential-of-biofuel-in-ethiopia&catid=34:environmental-news-cat&Itemid=57

http://www.sugartech.co.za/sugarprice/index.php
http://en.wikipedia.org/wiki/Ethanol_fermentation

Simfan34

October 6th, 2010, 08:59 PM

:applause::applause:

Very, very good, when I get the time I'll take a closer look and comment.

Yoniii

October 6th, 2010, 09:31 PM

Very interesting, I had no idea that Ethiopia was so rich in natural resources. It's still probably one of the least explored countries as well.

The depressing side is like you mentioned, the harsh reality of our current low-income statues. All of the reasons you stated contributed to holding us down to this day, but the main reason is the governments/leaders (past and current). They are the one that can set the policies and encourage the people to achieve what ever goal that needs to be achieved, even though all of us has to contribute in one way or another.

Even though there are many things that I strongly disagree with todays government, one thing that I do like is their Pro-investment policies. The corruption is also relatively low by African standards, according to international organisations, so I hope we can use these resources to get rid of poverty once and for all.

The Rev Paul Whicker

November 9th, 2010, 09:55 PM

Any of you guys live in Ethiopia?

http://www.iii.co.uk/investment/detail?code=cotn%3ANYO.L&display=news&it=le&period=2010

http://www.nyotaminerals.com/

http://www.nyotaminerals.com/docs/NyotaPPT.pdf

Builds new school

http://www.nyotaminerals.com/files/pdf-05112010NYOLettertoShareholder_1.pdf?PHPSESSID=62a0d082d9d0b55b0a158157ce9dc40c

http://www.ifc.org/ifcext/spiwebsite1.nsf/projects/C9F5F1B596F3F37C85257704007BFBA8

rev

The Rev Paul Whicker

November 10th, 2010, 09:17 PM

http://www.iii.co.uk/investment/detail?display=discussion&code=cotn:NYO.L&it=le

This is the nyota investment blog.

Warning like all blogs some of them are nutters!!

abesha

November 13th, 2010, 05:08 AM

Ethiopia Aiming to License 50 Mineral Projects Every Year, Boost Exports

Ethiopia’s government is aiming to license 50 mineral-exploration projects every year and more than double exports from the industry to $1 billion in five years, said an official at the Mines Ministry.

Investment in the mining industry has surged from less than $100 million in 2003 to an accumulated $1.3 billion, said Gebre Egziabher Mekonen, head of the mineral operations department at the ministry.

“The sector has seen a dramatic change,” he said in an interview in the capital, Addis Ababa, yesterday. “Seven years ago, the West didn’t know about our mineral resources.”

The Horn of Africa nation, which has deposits of gold, silver, copper, platinum, potash and tantalum, exported $281 million of gold in the fiscal year to July 7, according to Gebre. Ethiopian-born Saudi billionaire Sheikh Mohammed al- Amoudi’s Midroc Gold Mine and Perth, Australia-based Nyota Minerals Ltd. both plan large-scale operations in the country, he said.

There are currently 80 international and local firms operating 160 projects, Gebre said.

The industry is “totally open” to foreign investors, Gebre said. “There is no restriction to any investment.”

Mining exports earn Ethiopia about $400 million annually, Gebre said, making it the second-largest foreign-exchange earner after agricultural produce. It is hoped this figure will rise to about $1 billion after five years, Gebre said. http://www.bloomberg.com/news/2010-11-12/ethiopia-aiming-to-license-50-mineral-projects-every-year-boost-exports.html

The Rev Paul Whicker

December 10th, 2010, 05:40 PM

http://www.proactiveinvestors.com.au/companies/news/12469/nyota-minerals-hits-157m-at-3704gt-gold-at-tulu-kapi-in-ethiopia-12469.html

Nyota Minerals hits 15.7m at 37.04g/t gold at Tulu Kapi in Ethiopia
Friday, December 10, 2010 by Proactive Investors Nyota Minerals (ASX: NYO, LON: NYO) has discovered a feeder zone style mineralisation characterised by abundant visible gold and associated high gold grades at its Tulu Kapi gold project in Ethiopia.

Investors cheered the news, sending Nyota shares surging more than 21% to £0.27 by late morning in the UK.

The intersections included; 15.7 metres averaging 37.04 grammes per tonne (g/t) gold, 25.76 metres grading 23.05 g/t gold and 4.65 metres grading 89.7 g/t gold.

Follow-up drilling of Lode 3 in TKBH-038 has been very successful with two diamond drill holes making further intersections of the same Lode 3 Zone, which indicated that Lode 3 is of significant size and could potentially add gold ounces to the Tulu Kapi Deposit.

Reverse circulation drilling of TKRC-111 and TKRC-108 both intersected gold mineralisation to the north along grid line L320N.

Step-out drilling has confirmed gold mineralization is open to the north with TKRC-111 intersecting 44 metres of 2.09g/t gold including 18 metres at 3.94g/t gold and 18 metres at 3.94g/t gold.

Nyota said that the discovery of the feeder style mineralisation, the extension of the Tulu Kapi deposit to the north and the thick Lode 3 intersections beneath the existing gold resource is a “clear indication that the project continues to have excellent potential to increase in size”.

The completion of the preliminary economic assessment feasibility study has been rescheduled to Q1 2011 to accommodate additional drill hole assay data and recently completed independent structural and geotechnical studies.

It will also incorporate the recently completed and ongoing detailed structural and geotechnical programmes, an important component of gold resource modelling and mine design.

In addition to that, a detailed structural mapping programme has been completed and five geotechnical holes have been drilled and logged as part of an ongoing study to provide detailed geotechnical engineering data to determine optimum pit slope angles for mine design.

Earlier this week, Nyota announced the commencement of a 2,000 metre diamond drilling campaign on its Billa-Guliso and Yubdo licence areas in Ethiopia.

The latest drilling campaign is designed to assess the company’s wider Ethiopian assets as much of Nyota’s value is currently accounted for by just the Tulu Kapi project.

AM2

December 10th, 2010, 08:32 PM

^^ Great news!

abesha

December 11th, 2010, 05:01 AM

Africa Oil Corp., a Canadian oil and gas exploration company, said it signed an agreement with the Ethiopian government to survey the Rift Valley Block.

The company will carry out an airborne geophysical survey of the 42,519 square-kilometer (16,417 square-mile) block, it said yesterday in a statement. The area is north of the South Omo Block where Africa Oil has a joint holding with U.K explorer Tullow Oil Plc and Agriterra Ltd.

Africa Oil’s exploration areas in Ethiopia, Somalia’s Puntland region and Kenya “host numerous oil seeps indicating a proven petroleum system,” the company said. :banana:

Nine companies are operating 17 licenses to prospect for oil and gas in Ethiopia, Ketsela Tadesse, head of petroleum operations, licensing and administration at the Ethiopian Mines Ministry, said in an interview today in the capital, Addis Ababa.

“This part of the world can generate substantial amounts of oil and gas,” he said. “But there is a need for more data and more active work.”

The ministry hopes to license at least two new operations per year, with a minimum of $500 million invested in prospecting over the next five years, according to Ketsela.

No reserves have been proven apart from about 4.9 trillion cubic feet of natural gas in concessions operated in the eastern Ogaden region by Kuala Lumpur, Malaysia-based Petroliam Nasional Bhd., Ketsela said. http://www.bloomberg.com/news/2010-12-10/canada-s-africa-oil-corp-agrees-to-survey-new-ethiopian-block.html

I'm SO hoping it's not in the Ogaden.

I hope they will make a real discovery soon; it would transform the country.

abesha

December 11th, 2010, 05:05 AM

Here's a map from their website:

http://img834.imageshack.us/img834/6751/surroundedbyoilmap.jpg (http://img834.imageshack.us/i/surroundedbyoilmap.jpg/)

Uploaded with ImageShack.us (http://imageshack.us)

AM2

December 12th, 2010, 02:16 AM

^^ I wonder what the 'El Kuran Oil Discovery' is? It's shown on the map, near where Ethiopia, Kenya and Somalia intersect.

abesha

December 12th, 2010, 02:24 AM

^^ It's in Ethiopia but I don't think the amount is substantial.

http://www.africaoilcorp.com/s/Ethiopia.asp?ReportID=352253

Three wells were drilled in the 1970's (all by Tenneco) within what is now part of the Africa Oil license area. The El Kuran-1 well, drilled by Tenneco in 1972 (TD 3,360m, 10,462ft) in Block 8 on a 66 km2 structural closure, encountered extensive oil shows throughout the Jurassic section and 200 gallons of oil was recovered from the Upper Hamanlei. Gas was found in deeper intervals. The nearby El Kuran-2 appraisal well (TD 2,015m/6,610ft2015m, 1972) apparently did not penetrate the full sedimentary section, but oil stained core was recorded in Jurassic intervals. Bodle-1 (TD 3,911m/12,831ft 1974) appears to have been drilled off the crest of a subtle structure and was plugged and abandoned with no shows. With only three wells drilled on the sparse seismic, and indications proving the existence of an oil (and gas) system, the acreage presents an interesting opportunity for further exploration.

Simfan34

December 12th, 2010, 08:15 AM

^^Nice map, but they need to note on the map that Madagascar isn't actually where they put it. That threw me off for a second.

The Rev Paul Whicker

December 13th, 2010, 08:32 PM

The reason for the odd map shape is because the company doesnt have any interest south of Tanzania.The Puntland licence for all minerals on and offshore was given to Range Resource Limited ,AO are a kind of farm in partner who have to cough up the first $25m of costs,which is why Puntland will never happen .The license expires 1 Jan 2011,so they may need to give more free shares to the Puntland Gov. members again if they want to renew it.The former Puntland Leader sorry i cant remember his name owns 3.6%.

http://www.youtube.com/watch?v=kbzgP_7U39U

At the end of this film it shows the RRL MD giving the Puntland Gov. $250,000 toward an airport .Unless the airport doubled up as a private runway for one of them,i would be surprised if it ever happened.

Has NYOTA news made any of the Ethiopian newspapers?

Finally i would be very very surprised if Tulu Kapi doesnt make 10 million ounces plus in 2011,and become the biggest gold discovery anywhere in the world in the last 25 years.

And this is why.

http://www.rns-pdf.londonstockexchange.com/rns/3935X_-2010-12-6.pdf

rev

abesha

December 13th, 2010, 08:40 PM

^^ It's reported in this weekend's Addis Fortune.

UK Mining Co. Strikes Gold in Oromia

Nyota Minerals Ltd has discovered a gold source characterised as a feeder zone style mineralisation, as announced by the company. This gold mining project made the discovery of "abundant and visible" gold in Tulu Kapi of the Oromia Region.

This mineral exploring company, with a reputation of being well funded, is listed in the Investment Market (AIM) of the London Stock Exchange (AIM:NYO) as well as in the Australian Stock Exchange (ASX:NYO). On the morning of Friday, December 10, 2010, its official web site shared the breaking news and watched their shares roll in at more than 21pc.

The company had done a lot of fund raising and researching for gold rich mining areas within Tulu Kapi and managed to raise 59.5 million Br to fund the ongoing drilling work there in December 2009.

Nyota Minerals entered Ethiopia and acquired 3,000 square kilometers in Tulu Kapi to extend their mineral resources exploitation programme in relation with some gold projects. On this plot, the company has established a total contingent Joint Ore Reserves Committee (JORC).http://addisfortune.com/news_radar.htm

abesha

December 13th, 2010, 08:51 PM

Nyota Minerals’ Ethiopia Mine Finds High-Grade Gold, CEO Says

A discovery of high-grade gold in Ethiopia by Australia’s Nyota Minerals Ltd. may expand the size of the mine and is a “very important step forward,” said Chief Executive Officer Terry Tucker.

The find showed ore at the Tulu Kapi mine of 23 grams per metric ton, higher than the average of 1.68 grams earlier discovered, Tucker said in a phone interview from London.

The company had estimated the mine would hold reserves of 1.38 million ounces, though that may now be higher, he said.

“It changes the project quite dramatically,” Tucker said.

Nyota has spent 9 million pounds ($14 million) in drilling since November 2009, and plans to invest a further 18 million pounds over the next 12 months, Tucker said.

The International Finance Corporation, the World Bank’s lending arm, has a 10 percent stake of Nyota and has invested 5.5 million pounds, Tucker said

Ethiopia is aiming to license 50 mineral-exploration projects every year and more than double annual exports from the industry to $1 billion in five years, Gebre Egziabher Mekonen, head of the Mines Ministry’s mineral operations department, said Nov. 11. The Horn of Africa nation exported $281 million of gold in the fiscal year to July 7, according to Addis Ababa-based Capital newspaperhttp://www.bloomberg.com/news/2010-12-13/nyota-minerals-ethiopia-mine-finds-high-grade-gold-ceo-says.html

Simfan34

December 14th, 2010, 03:41 AM

Nyota Minerals’ Ethiopia Mine Finds High-Grade Gold, CEO Says

http://www.bloomberg.com/news/2010-12-13/nyota-minerals-ethiopia-mine-finds-high-grade-gold-ceo-says.html

Well this is one step to proving Rev Whicker right...

AM2

December 14th, 2010, 10:52 PM

^^ It's in Ethiopia but I don't think the amount is substantial.

http://www.africaoilcorp.com/s/Ethiopia.asp?ReportID=352253
Thanks Abesha, didn't know Tenneco was active in this area.

Ahadu

December 15th, 2010, 07:08 AM

Nyota Minerals’ Ethiopia Mine Finds High-Grade Gold, CEO Says

I am totally lost with who is who / and who owns what in this Nyota Minerals entity? Who is Melissa Sturgess? She doesn't look an ordinary CEO to me?
.......... Nyota, then you have Minerva & dwyka pop into the picture. What's going on?

http://img69.imageshack.us/img69/7351/62457989.jpg

http://img838.imageshack.us/img838/5968/34974989.jpg

http://img839.imageshack.us/img839/8228/73533329.jpg

http://img64.imageshack.us/img64/6551/36253568.jpg

http://img408.imageshack.us/img408/9192/39620976.jpg

The Rev Paul Whicker

December 15th, 2010, 10:42 AM

The Rev Paul Whicker

December 15th, 2010, 01:38 PM

Brokers notes PEA =Preliminary Economic Assessment Feasibility Study

Nyota Minerals Limited ("Nyota") has released some excellent drilling results from its ongoing campaign at its wholly owned Tulu Kapi project in Western Ethiopia .

Today’s release has results from extension drilling to the north and definition drilling of Lode 3, but the headline-grabbing results are from the first of 4 holes that the Company has sunk to greater depths which is thought to have intersected an extremely high-grade feeder-zone for the main Tulu Kapi deposit. This diamond drillhole showed “abundant visible gold” and returned 25.76m @ 23.05g/t Au which contained 15.70m @ 37.04g/t Au.

This is a strong indication that Tulu Kapi is part of a larger gold-bearing system and the style of mineralisation of the new discovery (such as higher temperature minerals such as pyrrhotite) indicates that it could be one of the sources of the gold bearing fluids that led to the deposit of gold at Tulu Kapi.

The extensional drilling immediately to the north of Tulu Kapi has shown good results from 2 new RC holes with intersections that reconfirm the Company’s previous statements that the Tulu Kapi orebody extends to the north. The new holes are 80m to the NW of current drilling and include intersections such as 44m @ 2.09g/t Au from one hole and 8m @ 1.9 g/t Au from the other.

Follow up drilling of 2 diamond holes into Lode 3 have also been successful with intersections such as 25.42m @ 1.98g/t Au in one hole and 4.25m @ 5.81g/t Au in the other. These intersections indicate that Lode 3 is of significant size and could add ounces to the Tulu Kapi deposit.

Following this recent drilling success, Nyota has decided to delay the completion and publication of the SRK-authored PEA so that more drill data, recently completed structural mapping and geo-technical studies (which could help with pit slope angles) can be included in the study. The PEA is now expected to be published in Q1 2011.

Ocean Equities Comment

We are immensely impressed with the deep drilling below Tulu Kapi and while one hole is not enough data to be able to adjust our price target valuation (currently £0.34), we are excited about the future development and now expect this target price to be reached in a much shorter time frame.

In discussion with CEO Terry Tucker, we are struck by the excitement that this discovery has generated within the Company. Terry returned from Ethiopia this morning and talked of the abundance of visible gold in this new zone, commenting that it is the most impressive intersection either he or his Exploration manager have seen in their many years of gold exploration.

Although there is much work to do to develop this new zone, there are some important points that can be taken from this hole. The presence of higher temperature minerals such as pyrrhotite indicate that this zone is much closer to the ‘guts’ of the system and force us to re-focus our view of Tulu Kapi as a much larger system, with the current 1.4moz near-surface resource as the ‘edge’ of the deposit. This is the truly exciting part of today’s discovery: that the current Tulu Kapi resource could be the tip of a gold iceberg.

There are 3 more deep holes with assays outstanding and we expect these results in the next couple of weeks.

Another point to note regarding the new discovery is that the mineralisation seems to occur at depths of approximately 350-450m below the surface. This indicates that if this discovery turns out to be an orebody of economic size then it would be an underground operation, most likely to be accessed by a decline ramp. We are happy with this concept as there seems to sufficient space between the bottom of the lowest near-surface gold that could be included in the open pit (Lode 3 – intersected down to ~250-300m below surface) to the top of the new zone (~350-450m depth) such that enough rock would be left for a substantial crown pillar. This means that the Company could run an underground operation in parallel with an open pit if they so desired with at least 100m of very competent syenite being left under the pit floor. We understand that Nyota will be commissioning an independent study to determine the econometrics of running such parallel operations.

Extension drilling to the North and Lode 3

We are slightly concerned that the impressive deep drilling in today’s press release might put the other drilling results in the shadow as we think that these are also very impressive and demonstrate a good jump forward for the Tulu Kapi open pit project.

Nyota has previously held that the Tulu Kapi orebody extends further to the north, and the 2 RC holes released today (see plan below) show that this is true for at least another 80m to the NW. The Company continues to chase the deposit north and we expect the mineralisation envelope to be pushed even further in this direction.

On a similar positive note, the drilling that has intersected the third gold lode bore good results from areas that are currently not accounted for by the resource statement of 1.4moz. This gives us comfort on our near term resource target of 2 million ounces in an open pittable resource will be achieved in the near term, and we suspect that come 2011 our resource target may increase to 3moz.

With today’s great results on three fronts, it is no surprise to us that Nyota has decided to delay the PEA so that it can include some of these results in the study. The PEA has previously been considering an open pit for the currently defined 1.4moz, and recent exploration work by the Company has meant that this is already woefully out of date. Publishing the PEA in its current state would be almost pointless as it bears little resemblance to the newly expanded project. We look forward to the revised PEA in 1Q 2011 and will re-visit our valuation of the Company at this point.

Upcoming Newsflow

• Interpretations and analysis from the airborne geophysics due in 1Q 2011.

• Further drilling and assay results from the other three deep holes expected within 2 weeks.

• Further testing of the possible new mineralised body to the west of Tulu Kapi – ‘Lode 0’.

• Further confirmation at Tulu Kapi of Lodes 3 and 4 at depth.

• Resource increase and upgrade (from inferred to some indicated) within 3 months.

• Publication of the SRK-authored PEA for the Tulu Kapi project before the end 1Q 2011.

The Rev Paul Whicker

December 15th, 2010, 01:52 PM

Got any more photos?

abesha

December 15th, 2010, 04:56 PM

What is the electicity like in Ethiopia ?A mining company need lots of it and water.Does anyone know if there is a water source near by?

Thank you for the info.

Electricity is an issue in Ethiopia, but luckily the government has been taking it seriously so there are several projects currently being finalized or u/c. The production is about 2000 MW right now, and it's set to jump to over 8000 MW by the end of 2015, and between 15 000 MW and 20 000 MW by 2020.
So there will be a large surplus.

As for water, I really have no idea.

When do you think the gold production will start?

Hersh

December 15th, 2010, 06:46 PM

Melissa Sturgess was the MD but has recently stepped down to become Chairwoman,to allow Terry Tucker to take up the role.He has experience in taking an exploration company all the way to production.Which is why he was given the job.

Minerva took over Dwykas during the Credit Crunch for peanuts ($3.4million from memory),which has proven good for Ethiopia,as Dwykas had funding problems and hadnt really done anything with its asset for years.At the time of the takeover TK held 700,000 ounces.The company then changed its name to Nyota Minerals Limited after the takeover.

I might be wrong but i think Melissa and the rest of the management own more than 10% of Nyota,so if this does turn out to be the biggest gold discovery for the last 25 years she will become the richest woman in the world!!

What has changed in the last week is Nyota have found huge visable gold at a depth range of 400-500 metres.Before i was expecting the whole block to come in at 5 million ounces and it to be an open pit mining operation.Now i believe it is going to be open pit and shaft mining.With the latter being the most profitable.

The company presentations in the past have hinted at 100,000 ounce p.a.(2013-2014) which is a typical amount for most open pit gold mines.Last weeks news has blown that figure up.

If there is say an average of 50g of gold per ton at a depth range of 400-450 metres and the gold ratio in the range covers the whole or most of the TK area(TK is alot bigger than Addis Adaba)this find will be making international news.

The results for the next 3 x deep drills should be announced by end of next week.

What is the electicity like in Ethiopia ?A mining company need lots of it and water.Does anyone know if there is a water source near by?

The location seems to be in Ghimbi, in Western Oromia. It's a very green region but there are no lakes nearby. There are a couple large rivers, but I'm not sure how close they are. I imagine their proximity matters.

Perhaps they can dig a well or tap into some sort of a sub-terrain aquifer system. I'm not sure the how far the Nubian Sandstone Aquifer system extends, but that's probably not a likely option.

I'm curious about the suggestion that the lady could become the richest woman in the world. As you know, there are many billionaire women. How much do you think the gold reserve could be valued at? It would have to be in the tens of billions at least, for what you say to make sense.

Also, how much will it benefit the local people and the country at large? Or is all of the wealth simply going to be swindled away to make some woman and other shareholders ridiculously rich?

The Rev Paul Whicker

December 15th, 2010, 08:37 PM

http://www.richestpersons.net/top-10-richest-women-in-the-world-2010/

Hersh thanks for that,you beat me to it as i planned to research how many shares exactly Melissa owns after my tea,which is now.

I had no idea some woman around the world were that rich to be honest ,i meant the Queen who is worth around £250M -£300M .

http://news.bbc.co.uk/1/hi/2979033.stm

Name Amount % Holding
Melissa Josephine Sturgess-Smith 7,819,855 1.731
Michael J Langoulant 3,486,129 0.772
Evan Kirby 3,325,729 0.737
Terry Tucker 1,000,000 0.222
Peter David Pettman 220,000 0.049

Obviously Tucker has less because he is new.Add to that the share option 3,500,000 for MS and TT.

From the AGM Vote

The exercise prices of the Options offered to the Recipient Directors are:
(a) in respect of the Tranche A Options, AUD0.35, which is 17%, higher than the weighted
average price of the Company’s Shares over the last 5 days the Shares traded prior to the date
of this Notice of Meeting
(b) in respect of the Tranche B Options, AUD0.42 which is 40% higher than the weighted average
price of the Company’s Shares over the last 5 days the Shares traded prior to the date of this
Notice of Meeting; and
(c) in respect of the Tranche C Options AUD0.50 which is 67% higher than the weighted average
price of the Company’s Shares over the last 5 days the Shares traded prior to the date of this
Notice of Meeting.

Share in Oz 43c

http://www.google.com/finance?q=asx%3ANYO

To be fair this is quite common in this industry,the management give themselves share options as a form of reward if things go well,shareholders will always vote yes as it gives the management an incentive.It is also common for management to give themselves share options a few months before something big is announced.As an investor it can be seen as a pretty good sign of a positive announcement to come.

Melissa total shares if options are taken up

11,319,855 shares (2.5%) x 27p (todays share price) £3Million

If the company can realise 10m ounces of gold and get the company from explore to producer the market cap.will be around £2Billion.(I am using CEY as a peer, which has that amount of gold as assets in Egypt http://www.google.com/finance?q=LON%3Acey ,i am also using its peek price this year)

2.5% of £2Billion is £50Million

To be fair that isnt going to beat the Queen ,however in my experience these people are very greedy and when a fund raising is announced(ie. they issue new shares at a discount to raise capital to fund themselves becoming miners,better than going to the banks)you can be sure they will be loading up and more.

In another words if this goes very very well you can be sure her holding wont be staying at these levels.

Having said all that the management at Nyota dont hold an unreasonable about of shares compared to some of their peers.So having researched my own comment about them fully ,i think i was a little unfair on them.And factually incorrect on 2 counts.

Rev

The Rev Paul Whicker

December 15th, 2010, 09:22 PM

Also, how much will it benefit the local people and the country at large? Or is all of the wealth simply going to be swindled away to make some woman and other shareholders ridiculously rich?

1.Local people,they will be the real winners imho.Nyota have already built a new school for the local Keele Village,there is at present no tarmaced road for 20km,that will have to change.And of course employment ,and if TK is as big as i think it is going to be ie 20M ounces plus,TK could end up as TK1,TK2,TK3 and even TK4 plus they have only just started drilling outside the TK zone (we dont have any results yet),Dina also looks just as promising as TK for example.

http://www.youtube.com/watch?v=apD5cPVsDjc

2. Ethiopians as a whole should benefit ,Nyota will be paying taxes ,electricity bills and mineral rights etc.What the powers that be do with that new money will determine whether the Ethiopian people benefit.

When do you think the gold production will start?

http://www.proactiveinvestors.com.au/companies/news/10708/nyota-minerals-on-the-fast-track-to-create-a-world-class-gold-project-in-ethiopia-10708.html

Under the terms of the prevailing mining legislation, Nyota may either look to convert the existing Tulu Kapi exploration licence to a mining license prior to the current period of tenure expiring in May 2011 or, alternatively, seek a further extension of the existing exploration licence.

Add 12-18 months to that date,is my guess.

ps

You might find this interesting

http://www.ifc.org/ifcext/spiwebsite1.nsf/projects/C9F5F1B596F3F37C85257704007BFBA8

IFC are Nyota newest shareholder,it also mentions May as being the mining licence date.

IFC being a shareholder is key to the company getting the mining licence,my point is there is no way the licence will be refused with the IFC on board.

Rev

Ahadu

December 15th, 2010, 09:44 PM

I might be wrong but i think Melissa and the rest of the management own more than 10% of Nyota,so if this does turn out to be the biggest gold discovery for the last 25 years she will become the richest woman in the world!!

^^ All indicate upward for the lady. She is something....! I hope she will share her bounty with the local poor.

".....Adjacent to the Tulu Kapi project, school has been built by Noyta and will educate over 360 students who would otherwise not receive a formal education....." This is a good start & sign!

http://img153.imageshack.us/img153/6755/40094629.jpg

http://img63.imageshack.us/img63/5501/53767202.jpg

The Rev Paul Whicker

December 16th, 2010, 02:45 PM

RNS Number : 0930Y
Nyota Minerals Limited
16 December 2010

Nyota Minerals Limited ('Nyota' or the 'Company')

Tulu Kapi Community and Environmental Program Update

Highlights

· Her Excellency, Madame Sinkenesh Ejigu, Minister of Mines, Ethiopia, officially opened the Worke Gudji Secondary School, built by Nyota on December 7, 2010.

· Nyota has commissioned JEMA International Consulting PLC (Addis Ababa) and SRK Consulting (Johannesburg) to complete an Environmental and Social Impact Assessment (ESIA) to Equator Principle standards for the Tulu Kapi Project.

Nyota is pleased to announce that on 7 December 2010 Her Excellency, Madame Sinkenesh Ejigu, Minister of Mines officially opened the Worke Gudji Secondary School located near the Company's Tulu Kapi Project, Ethiopia. Nyota constructed four school blocks with 12 classrooms, built desks and supplied blackboards. Currently, 454 students are registered in grade 9. Nyota is proud to celebrate the opening of the Worke Gudji Secondary School, an example of cooperation between Nyota and the community. We will continue to identify needs and promote sustainable initiatives throughout all stages of development.

Nyota is pleased to report it has commissioned JEMA International Consulting PLC (Addis Ababa) and SRK Consulting (Johannesburg) to complete an Environmental and Social Impact Assessment (ESIA) for the Tulu Kapi Project. The ESIA will include baseline field work, socioeconomic studies and long term monitoring programs such as water and air quality. Individual specialist studies will be compliant with Equator Principles and with International Finance Corporation standards. Nyota has also prepared, completed and implemented a comprehensive Occupational Health and Safety Program that was authored by 1984 Enterprises Inc. in Vancouver, Canada in close cooperation with the Nyota field teams.

"I see the development of our proactive Health, Safety, Environment and Community Policy as an opportunity to set a high standard that will pave the way for strong, cooperative relationships with our employees and community stakeholders for the life of the project," says Nyota CEO Terry Tucker.

TO VIEW PHOTOS OF THE WORKE GUDJI SECONDARY SCHOOL OPENING, PLEASE CLICK ON THE FOLLOWING LINK:

http://www.rns-pdf.londonstockexchange.com/rns/0930Y_-2010-12-16.pdf

The Rev Paul Whicker

December 16th, 2010, 06:25 PM

http://www.proactiveinvestors.com/companies/news/10924/nyota-minerals-contracts-environmental-and-social-impact-assessment-for-tulu-kapi-10924.html

Nyota Minerals contracts environmental and social impact assessment for Tulu Kapi

Nyota Minerals (LON:NYO, ASX:NYO) has hired JEMA International and SRK Consulting to complete an Environmental and Social Impact Assessment (ESIA) for the Tulu Kapi project in Ethiopia.

The ESIA will be carried out in line with the ‘Equator Principles’ - an international benchmark for assessing social and environmental risks.

The study will include baseline field work, socio-economic studies and long term monitoring programmes such as water and air quality.

Nyota also highlighted some of the work it has been doing to support the local community near the Tulu Kapi project.

On 7 December 2010 a new school, built by Nyota, was opened by the Ethiopian Minister for Mines Madame Sinkenesh Ejigu.

Nyota constructed four school blocks with 12 classrooms. The school currently has 454 registered students.

The company intends to continually identify needs and promote sustainable initiatives throughout all stages of development.

"I see the development of our proactive Health, Safety, Environment and Community Policy as an opportunity to set a high standard that will pave the way for strong, cooperative relationships with our employees and community stakeholders for the life of the project," chief executive Terry Tucker said.

ardamir

December 19th, 2010, 04:22 AM

http://www.nyotaminerals.com/projects/gold_platinum.php

The location list the deposit at Latitude 9° 10’ 00” South (should be north, as Ethiopia is north of the equator) and Longitude 35° 35' 00" East near the town of Gedi Adis (according to Google Earth). The site is about 80km south of the Blue Nile. Website says that the area has access to the national electricity grid.

http://www.nyotaminerals.com/images/gold%20in%20quartz.jpg
(Quartz /w gold)

Whicker, are you a geologist?

The Rev Paul Whicker

December 19th, 2010, 12:40 PM

No.

The Rev Paul Whicker

December 20th, 2010, 05:34 PM

"Assays on three additional holes with visually similar mineralisation are pending."

This is a quote from the companys broker.

Ore grades of 30 g/1000 kg (30 ppm) are usually needed before gold is visible to the naked eye, therefore in most gold mines you will not see any gold.

http://en.citizendium.org/wiki/Gold

In other words if the 3 remaining drill samples are as Bell Potter put it are visually similar,its a reasonable guess the results are going to be above 30 grams.

Heres the whole report.

Site visit update 20 December 2010 : Tulu Kapi deposit
We rate NYO a Buy and our price target is $0.60/sh.
The tour of NYO’s Tulu Kapi gold deposit in western Ethiopia last week has
increased our confidence that there is significant upside potential to the
company’s current 1.4Moz resource. The trip also highlighted potential
upside from regional targets within 15km of Tulu Kapi and at the company’s
tenements around 100km to the north.
Resource update, feasibility report & mining licence in next 6 months
We expect NYO to announce a resource update and positive results from its
Tulu Kapi Preliminary Economic Feasibility Study in early 2011. The Tulu
Kapi study is likely to support a +1Moz open pit mine, from a 2Moz (inferred
JORC equivalent) resource. The next step will be for NYO to commence
government negotiations for the granting of a mining license for Tulu Kapi.
Tulu Kapi will support a much larger project than initially planned
The current assessment of the Tulu Kapi project has been bound by drilling
to date. We expect that extension drilling, drilling at depth and regional
exploration potential will ultimately lead to a much larger mining project. NYO
recently announced that it had intersected 15.7m at 37.04g/t from 418m at
Tulu Kapi, indicating what could be one of the original sources of gold
bearing fluids for the deposit. This high grade feeder zone style
mineralisation may support an underground development in addition to the
open pit project at Tulu Kapi.
Regional exploration to ramp-up in 2011
NYO has identified at least five exploration targets within 15km of Tulu Kapi.
A diamond drill program has commenced to follow-up previous drilling,
trenching and geophysics conducted over the areas. Success at any of
these targets could support either a satellite deposit to Tulu Kapi, or another
mine development.
Upcoming news flow / work program:
Monthly: Ongoing drill assay results from Tulu Kapi and regional
exploration;
January 2011: Resource update (Bell Potter Securities target +1Moz pit
from 2Moz JORC inferred equivalent resource);
February 2011: Release results from Preliminary Economic Assessment
Feasibility Study;
March 2011: Commence negotiations with the Ethiopian Government for
the granting of a Mining License;
Second quarter 2011: Commence Definitive Feasibility Study on Tulu
Kapi project; and
Mid-2011: Mining license for Tulu Kapi granted.

Ethiopia trip reaffirms our Buy rating
Bell Potter Securities attended a site visit at NYO’s Tulu Kapi gold deposit in
western Ethiopia last week. The trip highlighted that:
there is potential for a +1Moz open-pit reserve at Tulu Kapi.
We expect NYO to announce a 2Moz (inferred JORC equivalent)
resource in January 2011 (up from 1.4Moz) and a mineable reserve
equivalent of at least 1Moz;
NYO’s focus is on developing a mine at the deposit.
The Ethiopian Government is pressing NYO to complete relevant studies
and apply for a mining license by April 2011;
the initial Tulu Kapi mine proposal/development will be expanded
as additional local and regional resources/reserves are proven.
The company’s/government’s haste in developing a mine at Tulu Kapi
means that the Preliminary Economic Assessment (PEA) Feasibility
Study being completed by SRK Consulting will be for a smaller
development than the Tulu Kapi deposit will ultimately support.
Extensions to the current resource are not included in SRK’s PEA;
there is potential for an underground development at Tulu Kapi.
Deeper drilling at Tulu Kapi (not included in SRK’s PEA) has identified
high grade feeder zone style mineralisation which will likely support an
underground development;
there is strong regional exploration potential.
NYO has identified at least five other targets within its exploration
licenses up to 15km from the current Tulu Kapi resource. Further drilling
of these targets has commenced and will continue through 2011;
it is likely that NYO will grow its exploration license position.
NYO has strong support from the Ethiopian Government and a growing
understanding of the regional geology following its recently completed
airborne geophysical surveys.
Conservative price target of $0.60/sh
Our price target for NYO assumes the company achieves a resource of
2Moz Au at Tulu Kapi by early 2011. It is conservative because:
the current share price can supported by a financial model of a 1Moz
open pit mine alone;
there is significant upside to this initial mine development. We have
ignored the potential upside from an underground development; and
we believe that NYO’s exploration licenses will likely support multiple
resources of a similar scale.
Our price target is the average of:
EV/Resource valuation: Valuing NYO at US$150/oz gold resource
(Australian peers are trading at over US$190/oz and recent gold sector
M&A has averaged US$150/oz); and
Sample gold operation NPV: Calculating the NPV of a project likely to be
supported by our target gold resource of 2Moz. Assumptions in this
model are consistent with other African gold projects and operations.
Table 2: Valuations and price target (full assumptions in Appendix 1)
Methodology 1 - EV/Resource
Resource target koz 2,000
Valuation @ US$150/oz gold resource A$/sh 0.77
Methodology 2 - Sample 10-year operation
Mineable reserve koz 1,000
Valuation US$/A$ 0.43
Price target (average valuation) A$/sh 0.60

NYO’s Ethiopian gold prospects
Developing the Tulu Kapi Gold Project is the key focus
NYO’s current focus is the development of a mine at the Tulu Kapi Gold
Project, around 510km west of the capital, Addis Ababa. The current Tulu
Kapi exploration license expires in April 2011. The Ethiopian Government is
pushing for NYO to apply for a mining license and develop the project. For a
mining license to be granted, NYO must complete an economic assessment
of the project and an Environmental Impact Assessment.
Four rigs on site, SRK undertaking project feasibility study
NYO has four drill rigs operating at Tulu Kapi to upgrade and better define
the current 1.38Moz resource. The company has appointed SRK Consulting
to complete a PEA Feasibility Study to review resource estimates and the
potential for a gold mine development at Tulu Kapi. Results from the study
are due in early-2011. We understand NYO’s Environmental Impact
Assessment on the Tulu Kapi Project is also nearing completion. NYO will
progress the Tulu Kapi project through a Definitive Feasibility Study in 2011.
Tulu Kapi studies are being completed to NI 43-101 standards
NYO is completing its feasibility studies and resource estimates to National
Instrument 43-101 standards. 43-101 is a Canadian scheme used for the
disclosure of information relating to mineral properties. The 43-101 standard
has previously been used by the privately owned Lega Dembi Mine in
Southern Ethiopia. We understand that the 43-101 standards are more
onerous than Australian based JORC standards.
We target a 2Moz resource and 1Moz pit at Tulu Kapi by early-2011
By complying to 43-101 standards, NYO may only announce the SRK
Consulting defined in-pit resource. We expect this to be at least 1Moz.
However, we expect that drilling completed in 2010 will have ultimately
defined a global resource of around 2Moz (inferred JORC equivalent).
Supporting our resource target is that:
step out drilling to the north and southwest has identified extensions to
the current resource; and
the majority of previous drilling had been completed to depths of only
175m, ending in mineralisation.
Underground development potential for further resource growth
NYO recently announced that it had intersected 15.7m at 37.04g/t from
418m at Tulu Kapi, indicating what could be one of the original sources of
gold bearing fluids for the deposit. To date, assays from only one of four
deeper holes have been received and reported. Assays on three additional
holes with visually similar mineralisation are pending. These results will not
be included in the study being completed by SRK Consulting and as such
provide further upside to the resource to be announced in early 2011. The
high grade feeder zone style mineralisation will likely support an
underground development in addition to an open pit development at Tulu
Kapi.
Metallurgical testing completed in January 2010: recoveries >95%
In early October 2010, NYO released metallurgical test results from Tulu
Kapi ore samples taken in July 2010. A total of 28 ore samples were tested
from near surface to a depth of 400m (lodes 1 to 4). The results
demonstrated good gold recoveries and low reagent consumptions. NYO
expect that a combination of gravity and flotation recovery should be able to
achieve gold recoveries to concentrate of greater than 95%.
Infrastructure to underpin a development at Tulu Kapi
Road infrastructure links Tulu Kapi directly to Addis Ababa, of which around
60% of the distance is sealed. The travel time between site and the capital is
around 12 hours by road.
Site visit update: Tulu Kapi deposit
20 December 2010
See Disclaimers and Disclosures at the conclusion of the analysis Page 5
NYO regularly charter Ethiopian airline, Abyssinian Flight Services, to fly
from Addis Ababa to the Ayra airstrip. The flight time from Addis Ababa to
Ayra is around 1.5 hours. The Tulu Kapi site is a further 1.5 hour drive from
Ayra.
NYO has onsite diesel powered electricity generation at Tulu Kapi. The
company is in discussions with local utilities with respect to electricity supply
for mine/plant construction and ongoing site needs. Electricity supply would
require the construction of a 48km transmission line. We expect this would
cost around US$4m.
The nearby Birbir River is capable of supplying abundant water to site.
Preliminary desktop scoping study supported further development
1. In February 2010, NYO released a pre-scoping study report completed
by mining and minerals advisors, Venmyn Rand.
The key outcomes from the study were:
1. that Tulu Kapi has the potential to be a viable open pit operation on the
690koz gold resource alone (at a US$950/oz gold price);
2. additional resource drilling has the potential to further improve the
project’s size and economics, and exploration should focus on upgrading
the mineral resource and defining mineralization extension; and
3. that other exploration targets could potentially be developed into satellite
pits or underground mining areas.
Exciting regional exploration potential
NYO has commissioned a fifth drill rig to test at least five targets within 15km
of Tulu Kapi. We expect NYO to ramp-up this regional exploration program
in 2011, providing ongoing news-flow. The targets are at various levels of
maturity and have been identified by previous mapping of out-crops,
trenching, drilling and geophysics. Targets are:
1. Soyoma;
2. Dina;
3. Chago;
4. Guji; and
5. Chalte/Syenite Hill.
These targets are located in the Yubdo (221km2) and Billa Gulliso
(202.5km2) exploration licenses, adjacent to Tulu Kapi.
Geophysics for regional exploration
NYO has completed a 44,700 line kilometer fixed wing airborne geophysical
survey over 3,550km2 of its land holding in Ethiopia. UTS-Aeroquest
(Australia) was commissioned to complete the survey.
The geophysical survey collected magnetic and radiometric data at a line
spacing of 100m. Matching the airborne geophysical data to NYO’s
exploration database and recent gold discoveries (Tulu Kapi and others) will
assist in identifying regional exploration targets. NYO has a database of
previous exploration across its properties, dating back to the 1970s, which
includes geochemical analysis of stream sediments, rock-chips and
trenching.
Northern tenement database collation
On 15 June 2010, NYO acquired an 80% interest in exploration tenements
located in northern Ethiopia. The purchased tenements cover an area of
4,500 km2. NYO is currently in the process of collating a database of
previous mapping, stream sampling and soil geochemistry data to identify
and prioritise exploration targets. The Northern Tenements will form another
important part of NYO’s 2011 work program.
Site visit update: Tulu Kapi deposit
20 December 2010
See Disclaimers and Disclosures at the conclusion of the analysis Page 6
International Finance Corporation (IFC) support
On 14 June 2010, NYO announced that the IFC has become a 10%
shareholder through a GBP 3.44m placement of new shares (29,749,327
shares issued).
IFC will bring developing country expertise to the Tulu Kapi project
IFC is a member of the World Bank and promotes sustainable private sector
investment in developing countries. One of the IFC’s core objectives is to
improve the development outcome of projects through its experience and

Lucky Lukas

January 9th, 2011, 05:05 PM

http://www.nyotaminerals.com/docs/NyotaPPT.pdf?PHPSESSID=119bfe0254183b2040e74504c340cc9f

Page 6 states that the royalty is only 8% does anyone know if this is right?

Also page 11 Tulu Kapi location and infrastucture is very interesting,it shows

A) 40 MW substation at Gimbi located 39 km east of Tulu Kapi

B) 30 km of power line to be upgraded and 9 km of new power line to provide approx. 10 MW

C) All weather road within 9 km of property

D) Airstip is being constructed at Ayra

E ) Suffient water for project at Birbir River located 5 km north

I dont think the results for the 3 deep drills to come out until the end of the month as it is pretty obvious that they are going to be of Biblcial proportions and the company will want to be absolutely certain before annoucing.

However the airborne survey could be any day now seeing as we have passed the 7th of January, there is no reason for them to hold back.

The Rev Paul Whicker

January 9th, 2011, 05:55 PM

Royalty agreements are used in the mineral and gas industries. These agreements have much in common with the origin of the term. For many centuries in Great Britain, the Crown owned all the gold and silver mines. A private business could mine these "royal" metals only if it made a payment, a royalty, to the Crown.

When, for example, a petroleum company wants to drill for oil on a person's land, the company negotiates a royalty agreement with the owner of the mineral rights. If the company strikes oil, the owner of the mineral rights will receive a royalty based on a percentage of the barrels pumped out of the wells. The owner may receive the royalty in kind (the actual oil) or in value (the dollar amount agreed to in the contract), based on the total production from the property.

The schedule for royalty payments is specified in the contract. Quarterly or annual payments are typical. The royalty owner has the right to make an independent accounting of the business records to ensure that the figures upon which the royalty is based are accurate.

At the moment in pencil a 8% royalty has been agreed,only in May when the company applies for a full mining license will we know the exact percentage.I am guessing that the percentage is going to be higher than 8% ,but its going to be hard for the Ethiopian gov. to negotiate the % up much higher than they have preliminarily agreed.

I am planning to visit Ethiopia in around 3 weeks time .The company have invited me to stay at Tulu Kapi ,they have even offered to accommodate me for that period.I plan to post photos on here of my visit ,which will make a difference me posting photos,when normally its you guys.

It turns out that Mellisa Sturgess is a really nice personal and that we both have a lot in common,we are both car nuts .Mellisa has recently bought a new ferrari,so we should have lots to talk about when i get there other than just gold.

Do any of you guys want to met up when i am there?

luke ,you are right Nyota have recently acquired the remaining 20% interest in regional portfolio to move it to 100% ownership,the other party were paid in shares and that was all executed on the 7th of January 2011 ,so there is no reason now for them to hold the airborne survey results back.

http://www.nyotaminerals.com/files/pdf-23122010NYOinterestinregionalportfolio_1.pdf

page 1

. An AIM application form and
ASX Appendix 3B in relation to these further shares will be lodged in this regard and are expected to be
admitted to trading on AIM on or around 7 January 2011.As soon as practicable after the Transaction is
concluded, the Vendors will take all steps required to transfer the Tenements into the name of Nyota

rev

abesha

January 9th, 2011, 06:09 PM

8%??? Are you effing kidding me? I'd rather the gold stays in the ground.

The Rev Paul Whicker

January 9th, 2011, 06:24 PM

It gets worse,they also have a corporate 30% tax holiday for 4 years again on page 6.

The best way i guess, to predict what this percentage is going to be ,is to research Lege Dembi to find out what % they are paying, seeing as they are the only Ethiopian mining peer.

Have things calmed down now in Alexandria?

rev

DZman

January 10th, 2011, 04:05 AM

A shyt load of gold, copper and silver found in Tigrai region. I think this one is a big one, I guess:banana:

Discovery Hole at Canaco's Harvest Project in Ethiopia Intersects 52.1 Metres at 1.55 Grams Gold Per Tonne and 4.10% Copper

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 6, 2011) - Canaco Resources Inc. (TSX VENTURE:CAN) ("Canaco" or the "Company") is pleased to announce exciting diamond drill results from the Terakimti concession, part of the Company's Harvest project in Ethiopia, acquired in August 2010 (and which remains subject to certain conditions and final acceptance from the TSX Venture Exchange). Significant drill results from a 1,600-metre program of 12 holes, 11 of which were drilled over an 800-metre strike length, included massive sulphide intersections of:

52.1 metres at 1.55 grams gold per tonne, 4.10% copper and 25.97 grams silver per tonne in hole 10HTD003 starting at a depth of 45.6 metres, including 23.7 metres at 1.88 grams gold per tonne, 7.30% copper, and 21.88 grams silver per tonne;
13.2 metres at 2.84 grams gold per tonne and 300.11 grams silver per tonne in hole 10HTD002 from a depth of 28.8 metres. This hole is located 350 metres northeast of hole 10HTD003 and is open at depth;
13.9 metres at 1.17 grams gold per tonne, 2.67% copper, 3.42% zinc and 21.57 grams silver per tonne in hole 09HTD005 starting at a depth of 77.0 metres. This hole is located 270 metres northeast of hole 10HTD003; and
12.0 metres at 0.88 grams gold per tonne, 1.06% copper, 4.11% zinc and 24.33 grams silver per tonne in hole 09HTD002 from a depth of 42.0 metres. This hole is located 570 metres northeast of hole 10HTD003.
Drilling was conducted as part of Canaco's due diligence process in acquiring the project in an attempt to confirm the potential for a gold enriched, polymetallic Volcanogenic Massive Sulphide ("VMS") deposit beneath gold rich gossans previously identified by surface trenching. Ten of the 11 holes contained significant mineralization, as follows:

http://www.marketwire.com/press-release/Discovery-Hole-Canacos-Harvest-Project-Ethiopia-Intersects-521-Metres-155-Grams-Gold-TSX-VENTURE-CAN-1376578.htm

AM2

January 10th, 2011, 04:09 AM

I thought 8% was low as well at first. But I checked out Ghana's mining law on wikipedia and it seems like their royalties range from a min of 3% to a max of 6% of total mining revenues. But their income taxes are 35%. So maybe 8% is not bad? What do you think Reverend? By the way thank you for all the interesting information you post on here.

Simfan34

January 10th, 2011, 04:57 AM

What's the tax in Ethiopia?

AM2

January 10th, 2011, 08:06 AM

I understand it's 30%

The Rev Paul Whicker

January 10th, 2011, 10:54 AM

CANACO are in the early stages and are operating in the Tigray region on the Ertrea border,which is south of Bisha in Eritrea where 1 million oz of gold have so far been discovered.At least it seems a Ethiopian company is partnering them in the project .

http://www.canaco.ca/s/NewsReleases.asp?ReportID=436428&_Type=News-Releases&_Title=Discovery-hole-at-Canacos-Harvest-project-in-Ethiopia-intersects-52.1-metre...

Location
Canaco's Ethiopian exploration asset consists of six exploration concessions covering 468 square kilometres in a 70%-owned joint venture with Ezana Mining Development, an Ethiopian company. The Nefasit, Hamlo, Terakimti, Adi Nebrid, Igub and Medri Felasi concessions are located in the Tigray region of Ethiopia within the Neo-Proterozoic Asmara VMS Cu-Zn-Au-Ag metallogenic belt. Several deposits have been discovered along the north-eastern extension of this belt in central Eritrea. The drilling conducted on the Terakimti concession is located 140 kilometres southwest along strike of Sunridge Gold Corp.'s Emba Derho VMS deposit, which is estimated to contain 62.5 million tonnes grading 0.72% copper, 1.38% zinc, 0.2 grams gold per tonne and 10 grams silver per tonne, and 150 kilometres southeast of Nevsun Resources Ltd.'s Bisha VMS deposit, estimated to contain 27.3 million tonnes grading 2.1 grams gold per tonne, 42.1 grams silver per tonne, 1.8% copper and 3.8% zinc. Bisha is in the commissioning stage and once in full production is expected to produce 1.06 million ounces of gold, 9.4 million ounces of silver, 734 million pounds of copper, and over one billion pounds of zinc.

rev

The Rev Paul Whicker

January 10th, 2011, 12:41 PM

MIDROC Ethiopia Holding Company own Lege Dembi which produces 4.5 tonnes of gold pa. and is Ethiopia's biggest exporter.

Our chairman Sheik Mohammed Hussien Ali Al-Amoudi has been named Saudi's second richest man with a fortune of 8.8 billion dollars. The list of top 50 richest Saudi ‘s was unveiled in the kingdom of Saudi Arabia on August 30, 2009.

According to the latest Arabian Business, Sheik Mohammed born in Ethiopia to a Yemeni father, is the second richest person in Saudi.

He made his first fortune in construction and real estate before branching out into buying oil refineries in Morocco and Sweden — where he was repeatedly honoured with the Royal Swedish Order of the North Star by King Carl XVI — and his native Ethiopia, where he engaged in different sectors of the economy and also bankrolls the national soccer team.

While the Nordic region’s biggest economy is still in recession as the global paralysis of credit markets undermines consumer spending and saps demand for Swedish goods, the stock exchange has bounced back to summer-2008 levels. And that’s good news for investment behemoths such as Al Amoudi, who owns a broad portfolio of businesses not only in oil but also in mining, agriculture, hotels, hospitals, finance, operations and maintenance.

His holding and operating companies, Corral Group and the Midroc Group, employ more than 40,000 people. Corral Group has an investment portfolio in Europe and the Middle East that includes Preem Petroleum, the largest integrated petroleum company in Sweden, Svenska Petroleum & Exploration, SAMIR, Naft Services Co (Saudi Arabia) and Fortuna Holdings Co (Lebanon).

Source: Arabian Business August 31, 2009.

http://www.midroc-ethiotechgroup.com/CEO'S%20OFFICE%20(CORPORATE)/NEWS/CHAIRMAN'S%20FILES/CHAIRMAN'S%20FILE-51-CHAIRMAN'S%20GENEROSITY.htm

It would appear that they operate an open pit mine as well as an underground mine .

http://www.midroc-ethiotechgroup.com/MGOLD/MGOLD-PRODUCTS/MGOLD-PRODUCTS.html#MINING

Very interesting

rev

The Rev Paul Whicker

January 10th, 2011, 02:25 PM

AM2

I dont know what is the royalty % industry norm is to be honest

Midroc is the only peer , i cant find anything,i have emailed them on the off chance .

http://www.midroc-ethiotechgroup.com/CEO'S%20OFFICE%20(CORPORATE)/CONTACT%20US/CONTACT%20US.html

However i did find this page 26 on Centamin Egypt Limited, royalty and tax agreements.

http://www.centamin.com/wp-content/uploads/2010/Q32010Presentation.pdf

Terms
option an with years 15 for duties and taxes No •
years 15 extend to
rate royalty cent per 3 •
split to prior recovery cost Full •
production post OPEX 
ongoing + historical Exploration 
ongoing + Capex historical 

Centamin Egypt Limited own Sukari 13.5Moz (open and underground mining)also in the Arabian-Nubian Shield.

http://www.nyotaminerals.com/docs/NyotaPPT.pdf page 7 for map

rev

ps. So its starting to look like 8% is a pretty good deal by comparison.Assuming it stays that way.

enkelfam

January 10th, 2011, 09:02 PM

[QUOTE] TORONTO, ONTARIO — Allana Potash Corp. (TSX VENTURE: AAA) ("Allana" or the "Company") is pleased to announce that drill hole DK-10-07, located in the northern section of Allana's property, intersected two significant zones of potash mineralization including the highest grade intersection to date. Hole DK-10-07 intersected 37.8% KCl over 2 metres, and 22.0% KCl over 6.7 metres in two distinct intersections at shallow depths beginning at 136 metres. The upper interval occurs within a thick potash sequence that returned 23.4% KCl over 9.2 metres.

Farhad Abasov, President and CEO, commented: "Allana is very pleased to have identified high grade zones of potash mineralization at very shallow depths and to have extended the Musley deposit an additional 700m to the east. Hole DK-10-07 is situated close to the newly acquired Haro concession and we believe that these positive results indicate significant potential for the Musley Deposit to extend to the Haro concession."

Hole DK-10-07 was collared in the northeastern portion of the Allana property approximately 700 metres southeast of drill hole DK-10-03 (see attached figure) near the newly acquired Haro concession. Hole 07 was drilled vertically and may represent a further extension of the Musley Deposit east onto the Haro concession. True widths of the potash zones are estimated to be very similar to drilled widths due to the flat-lying nature of the potash horizons. The zones of potash mineralization are outlined in the following table:

Geological logging of the hole suggests that the upper intersection correlates with the Sylvinite Zone as defined by Parsons at the historic Musley Deposit. Similarly, the lowest intersection, 6.7 m at 22.04% KCl, is dominated by kainite and appears to correspond to the Kainitite Zone in the Parsons stratigraphy. XRD work is in progress at Saskatchewan Research Council to better define the potash mineralogy.

In addition to Hole DK-10-07, holes DK-10-08, 09, and 10 (see figure) were completed prior to the Christmas break and are in the laboratory undergoing analysis. Results should be available in the next few weeks. Down-hole seismic work and down-hole geophysical surveys were also completed prior to the Christmas break and this data are currently being compiled.

Exploration drilling will resume next week and continue on the Haro concession to define further extensions of the Musley Deposit, and in the south, west of drill hole DK-10-06. Allana will continue to drill in the vicinity of DK-10-06 to investigate the extent of promising potash mineralization intersected in this hole with one drill rig while the second rig finishes additional 1-2 holes on the Haro concession. Road building is scheduled to start in the next month to access drill targets on the far eastern portion of the Allana property where preliminary seismic work suggests the stratigraphy dips back toward the surface.

In addition, the Company announces that it has granted a total of 2,110,000 stock options pursuant to the Stock Option Plan of the Company to various officers, directors and consultants of the Company. The options will be exercisable for $0.69 per option and shall expire on January 10, 2016. Such options shall vest immediately subject to the applicable regulatory hold period. The grant of options remains subject to receipt of all required regulatory approvals.

http://www.msnbc.msn.com/id/41004006

AM2

January 10th, 2011, 09:40 PM

Found this old article from Fortune (ethiopia) about Midroc signing a new agreement for a new mine at Sakaro, 3kms from Legedembi.
http://www.addisfortune.com/Vol%2010%20No%20500%20Archive/MIDROC%20Signs%20up%20for%20Second%20Gold%20Mine.htm

It says in here that: "Signing the agreement, MIDROC Ethiopia CEO and general manager of MIDROC Gold plc, Arega Yirdaw (PhD), said the Sakaro mine came at a time when the Lega Dembi open pit mine, which it acquired from the government in 1998, had started dry up. MIDROC Gold has extracted 34,000kg of gold from Lega Dembi between 1998 and 2008, earning 466 million dollars.
He said that the new deal will bring a revenue of 564 million dollars, enabling it to pass to the government 130 million dollars in the form of royalties and tax."
So this means that Midroc will be paying about 23% of its income to the government. I think this is really low. Just the income tax should be 30%. But then again they might have tax holidays for a few years. Oh well ...

AM2

January 10th, 2011, 09:47 PM

And more information about Ethiopia's Mining Proclamation (might be outdated though):

"The Mining Proclamation 52/1993, Mining Income Tax Proclamation 53/1993, Mining Operations Regulation 182/1994, Proclamation 22/1996, Proclamation 23/1996, and the Investment Proclamation of June 1996 form the legal basis for mining in Ethiopia.
The Ethiopian government retains title to all land and mining operations, subject to national and governmental approval. The Government has the right to acquire a 2% interest in mining ventures as well as a 35% income tax levy on all mining operations. Mining royalties include 5% on precious metals and 3% on other minerals."

http://www.mbendi.com/indy/ming/af/et/p0005.htm#15

The Rev Paul Whicker

January 16th, 2011, 12:37 AM

To understand why gold exploration companies in Ethiopia will have a high chance of success,you first have to understand the history.

Its a well known fact that The Queen of Sheba came from Ethiopia or Yemen,either way Ethiopia was part of her kingdom.Its also a well known fact that she owned a lot of gold.

http://www.youtube.com/watch?v=vbkDagYv3BU

http://www.youtube.com/watch?v=hIJab39MG1E

http://www.youtube.com/watch?v=zfRNwdyOFgw

http://www.bbc.co.uk/history/ancient/cultures/sheba_01.shtml

The first currencies ever used in the world were shells and beads

"Shell money is a medium of exchange that was once common. It consisted either of whole sea shells or pieces of them which were worked into beads or otherwise artificially shaped. The use of shells in trade began as direct commodity exchange, the shells having value as body ornamentation"

http://en.wikipedia.org/wiki/Shell_money

http://www.youtube.com/watch?v=3HdmA3vPbSU

Take Gedi for example near Malindi,here when archaeologists excavated the site they found Spanish scissors,Venetian beads ,etc..

"Turning left at the corner of the house,the street between it,and the destroyed house of the Chinese cash"

http://www.africanmeccasafaris.com/kenya/mombasa/excursions/gediruins.asp

In others words they were trading goods from around the world buying them using shells and beads.

Gold would have become currency or at least had value at different times in different parts of the world,for example native Americans clearly didnt believe gold had any value,if they had there wouldnt have been the famous gold rush.

In the good old bad old days ,in gold rich areas children would have collected large and small gold nuggets and traded them with each other in the same way children collect conkers today.

The reason why gold in these areas thousands of years ago was so abundant was because,100's of millions of years had past for it to surface to the rivers ,waiting to be collected ,before man realised its value.

"A child finds a shiny rock in a creek, thousands of years ago, and the human race is introduced to gold for the first time."

http://www.onlygold.com/tutorialpages/historyfs.htm

The reason why the Solomon Islands were called the Solomon Islands is because the person who discovered them found gold nuggets in one of their rivers.

" The islands were named by a Spanish explorer, Alvaro de Mendaña de Neira, who, on finding alluvial gold on Guadalcanal in 1568, believed he had found the biblical King Solomon's source of gold"

http://www.guadalcanal.com/

My point is all the easy gold has been collected out of the rivers years ago but as my geologist friend Geoff says,it must have all come from somewhere.And i think we all know where.

"This style mineralisation is a clear indication that this could be one of the original sources of gold bearing fluids"

" feeder zone style mineralization characterised by abundant visible gold ("Au") and associated high Au grades."

"The combination of mineralogy and geophysical signature specific to this mineralisation style has been noted elsewhere within the Tulu Kapi area by Nyota implying the possible presence of multiple high-grade feeder zones"

http://www.nyotaminerals.com/files/09122010_NYO_Drilling_Update_1.pdf

2011 is going to be a very good year for Ethiopia ,gold will for the second time put it very much on the map .

God bless,

Paul.

ardamir

January 17th, 2011, 07:13 PM

Whicker, do you think the cyanidation process will be used to refine the gold ore? I had done some research into the effects of tailings from abandon mines that used the process on water quality in the western US.

Also, is anyone else seeing the gold advertisements?

The Rev Paul Whicker

January 17th, 2011, 07:45 PM

Good point ardamir.

I havent got a clue,but i can ask them when i visit.

I did find this in my old research notes though.

http://www.un.org/esa/dsd/dsd_aofw_ni/ni_pdfs/NationalReports/ethiopia/mining.pdf

(Worth reading all of it)

"1.2 The vision of the Ethiopian mining sector
The vision for the coming 15 to 20 years for the Mineral Sector is to establish a diverse, worldclass, competitive and environmentally sound private sector led mining industry, based on
transparent free market principles, contributing not less than 10% of the GDP thereby enhancing
the socioeconomic development and eradication of poverty in Ethiopia."

"6.1 Environmental issues
In Ethiopia there is no abandoned or orphaned mine due to large scale operations that the
rehabilitation cost be as such big. However, the history of gold mining in Ethiopia dates back to
Biblical times. Substantial amount of placer gold deposits were discovered and mined by semimechanized and artisnal methods in the Adola belt, southern Ethiopia, western Ethiopia, south
western Ethiopia as well as to some extent in northern region of the country. Also Artisanal miners10
are exploiting a number of placer gold occurrences in other different parts of the country. Base on
some assessment studies the gold being mined and produced by artisanal miners all over the
country is estimated to be more than 3 tonnes (3000 kilo grams) per year. In addition to this,
placer gold deposit that could be mined by legally and formally established artisanal mining
cooperatives is also available in western, southern and northern parts of the country. The placer
mining environment is extensively dug that there are physical land degradation, open tunnels and
pits, deforestation etc which is becoming issue for the environment.
The financial surety to reclaim and rehabilitate such destructed area is not likely to happen unless
special programme is going to be undertaken by the government itself with other international
partners."

"5.3 Environmental management
It is inevitable that extraction of minerals from the nature earth leads to disturb
the environment. When disturbing the environment there must be careful and
systemic protection of the whole system of environment that assures sustainable
use of the current resource and or ecosystem and that bring about either less or
almost none destruction or pollution of the environment. The mining legislation
of Ethiopia, which came in to effect in 1993 has provision that requires as
compulsory criteria to study, submit and get approval of Environmental Impact
Assessment from the respective Authority in order to develop large scale mining
project. The common environmental issues in Ethiopia to be considered in
development of the medium to large scale mining projects are the surface and
ground water system, the physical land management (soil, rock stability,
deforestation grass land, farm land, etc), spillage of strange chemicals/metals,
air, noise, dust, aesthetic values of the area, cultural and tourist heritages, the
communities as well as all other lives surround the mine proximity.
In principle the licensees shall ensure the financial mobilization of the
environmental management and mine closure plan. Therefore sinking fund is
required to be pledged while the mining activity is going on and management
plan shall be implemented through out the life of the mine."

Simfan34

January 18th, 2011, 05:04 AM

Also, is anyone else seeing the gold advertisements?

I do.

Next call

January 28th, 2011, 12:03 PM

Dear Rev Whitaker, I have followed your thread, and I am interested with your thorough analysis. My question to you is if this latest Nyota research reports from the drilling result to be taken seriously for it is unbelievable for they seem to have found the mother of all finds if the report is to be trusted. another company which is interesting me is Allana Potash which seems to have stumbled on a massive find of Potash. My problem is the person in charge ( Abbasov) is a novice with very little financial background when dealing with hundreds of millions of tonns of this ever more valuable commodity in high demand. the capitalization of this company is miniscule compare to the amount needed to extract Potash. Please do due dilligence on Allana and its pundits. NYota seems to have better and unbelievable results yesterday. is this the find of the century or what ? Rev, How trusted are these pink sheet operators?

Yoniii

February 4th, 2011, 11:56 AM

Ethiopia to build oil refinery

By Kaleyesus Bekele

Sources close to The Reporter (http://www.ethiopianreporter.com/english/index.php?option=com_content&view=article&id=1760:ethiopia-to-build-oil-refinery-&catid=98:news&Itemid=511) say that the Ethiopian Oil and Petroleum Cooperation is discussing a plan to setup an oil refinery near the Ethiopian border with Djibouti. According to reports, the Djibouti government will install a pipeline from country’s center to its border with Ethiopia. The Djibouti government is researching the groundwork for installation with the help of Russian experts. Ethiopia will build the pipeline from the border to its center.

Ethiopia currently imports over 1.5 million tons of fuel and spends over two billion USD a year. Importing crude oil and refining it in Ethiopia will reduce the country’s foreign currency spending and help the country produce petroleum products such as asphalt.

Ethiopia previously used the Asab Refinery, now located in Eritrea, for many decades. After the refinery service charges skyrocketed, Ethiopia imported refined fuel instead of refining the crude oil at Asab.
The ever increasing fuel consumption is eating up almost all of the country's foreign currency. I think I've read somewhere that 90% of it is used to cover the fuel imports.

abesha

February 4th, 2011, 04:15 PM

That's great news!

The Rev Paul Whicker

February 5th, 2011, 04:26 PM

9/12/10 http://www.nyotaminerals.com/files/09122010_NYO_Drilling_Update_1.pdf

High Grade Gold Feeder Zone Style Mineralization Discovery
Nyota is pleased to announce the discovery of feeder zone style mineralization characterised by abundant visible gold (“Au”) and associated high Au grades.**
This is a significant discovery as it is a strong indication that the Tulu Kapi Deposit is part of a large magmatic Au bearing system and therefore offers potential for further discoveries and expansion.**Diamond drill (“DD”) hole TKBH‐074 (Table 1 and Map 1), that intersected this new style of mineralization, is characterized by pressure dissolution styolite and fracture veins with biotite and magnetite alteration, and sulphides consisting of pyrrhotite, pyrite and abundant visible Au.This style mineralisation is a clear indication that this could be one of the original sources of gold bearing fluids and as a result improving the understanding of the ore genesis process.The combination of mineralogy and geophysical signature specific to this mineralisation style has been noted elsewhere within the Tulu Kapi area by Nyota implying the possible presence of multiple high grade feeder zones with the current Au resource largely reflecting distal mineralisation.

"Gold usually occurs in its metallic state, commonly associated with sulphide minerals such as pyrite."

http://www.australianminesatlas.gov.au/education/fact_sheets/gold.jsp

" most gold - quartz veins have at least some sulfides like pyrite present"

http://www.nuggetshooter.com/articles/CRGeologyofcoarsegoldformation.html

"Primary gold deposits are formed from gold-bearing fluids at sites where the chemistry and physical characteristics permit gold deposition"

http://www.australianminesatlas.gov.au/education/fact_sheets/gold.jsp (same link)

Its important to really understand and get you head around ore genesis ,because that is exactly what we have got at Tulu Kapi.

"Ore genesis theories generally involve three components: source, transport or conduit, and trap."

Source is required because metal must come from somewhere, and be liberated by some process

Transport is required first to move the metal bearing fluids or solid minerals into the right position, and refers to the act of physically moving the metal, as well as chemical or physical phenomenon which encourage movement

Trapping is required to concentrate the metal via some physical, chemical or geological mechanism into a concentration which forms mineable ore.

**The biggest deposits are formed when the source is large, the transport mechanism is efficient, and the trap is active and ready at the right time.**
.

http://en.wikipedia.org/wiki/Ore_genesis#Gold

The current theory on Gold formation is that super heated water carry the metals in solution. The water flows below ground through fissures and into areas less hot so that the solution cools. When it cools, the metal (in this case gold) precipitates out of solution and covers the wall of the fissure or grains of rock within the area through which the water is flowing.

How does the water get hot? It either flows through a region that is close to a magma chamber (melted rock) or it comes out of the magma itself. How did it get in the magma? Extreme pressure at great depth can keep water, it's in its molecular form, suspended in the magma. If the magma flows to a region of less pressure and/or temperature the molecular water can “leak” out of the magma.

How does the gold get into the water? Well, that's only conjecture. It was probably carried in the magma itself in molecular form and then, as the water left it carried the gold out. Or the superheated water flowed through a rock body that already contained gold. As it flowed through it dissolved the gold, VERY hot water can do that, and then deposited it somewhere else.

You asked how it can form in “such large quantities”. The answer is deceptively simple. It forms because the conditions are right for it to form. Other “harder” minerals can also form with gold, but if you find them it is possible that they were deposited at a different time, or the conditions favored the formation of both. Unfortunately there isn't always a good answer in science. The formation of metallic minerals is not completely understood at this time. We have a pretty good handle on the subject but there are still things that remain elusive.

General

A shield is generally a large area of exposed Precambrian crystalline igneous .The Arabian-Nubian Shield on the western edge of Arabia

http://en.wikipedia.org/wiki/Shield_(geology)

http://en.wikipedia.org/wiki/Arabian-Nubian_Shield

Last 3 RNS's

The three holes reported have intersected Feeder Zone style mineralisation some distance away from the discovery hole and represent
mineralisation that has been deposited in a similar fashion to the Lodes 1, 2 and 3. Grades achieved include peak intersections of 6.15g/t Au over 8.67m and 3.08g/t Au over 19.31m.

http://www.nyotaminerals.com/files/270111NYODrillingUpdate_1.pdf 27/01/11 (The last drilling update)

Bit disappointing this one at first glance as we were all expecting fireworks after the company stated that the 3 outstanding assays mentioned in December’s announcement were visually similiar,until you read this email of explaination from the companies Chairwoman.

Dear Reverend Paul

Where we refer to mineralisation being deposited in a similar fashion to Lodes 1,2 and 3 what we mean is that whilst you have a core of Feeder you also have some feeder mineralisation that has found its way up and down low angle faults in the same fashion as the lodes higher up in the sequence. Visible gold is not necessarily going to be represented in samples because of the nugget effect. Industry standards mean we take the core over a specified length (no more than 1m) which might weigh 10kg. This is crushed and split using a special splitter until you have a wkg representative sample which is then ground and split again with only 100g going to the lab for assay. Whilst the sample is representative it may not contain coarse gold (i.e. That which is visible) as this may have been split out of the final sample by the nugget effect. Visible Au is of course highly encouraging as it confirms Au in the rocks.

Hope this helps.
Regards,

Mellisa

Also in the last drilling update was:

• Drilling has commenced aimed at increasing the size of the high‐grade Feeder Zone.

Remember playing battleships when you were a kid?Just a question of time before they hit jackpot,only i cant see it taking that long seeing as half of it has been drilled already.

• Drill results for UNDP Prospect have returned encouraging results and a potential opportunity to increase the global resource.

I think we will be hearing a lot about this in the future,its the first time i have heard them say Tulu Kapi Trend and structural corridor extending from Tulu Kapi.

Maximizing Shareholder Value.

*Rockbury will work with the Company in progressing the development plans for the Project with the aim of securing debt and equity financing for the construction and commissioning of gold mining and processing operations at Tulu Kapi.

http://www.nyotaminerals.com/files/010211_NYOApptofRockbury_1.pdf

Very encouraging indeed!!!And self explanatory.

Further to the announcement on 1 February 2011 whereby Nyota confirmed the appointment of Rockbury Capital to provide advice and services in connection with the development of the Tulu Kapi project, Nyota advises that it has granted Rockbury Capital 4,000,000 share options, representing 0.88%of the Company’s current issued share capital, exercisable at GBP0.23 (being a price higher than theaverage mid market closing price on 31 January 2011 )at any time on or before 31 January 2016 as part of its remuneration arrangements

http://www.nyotaminerals.com/files/04022011NYORockburyOptions_1.pdf

With the option of 4,000,000 shares at 23p each ,as a form of payment this gives Rockbury a real incentive to produce the least dilutive financing possible.

God Bless

Rev.

ps i am still planning a visit to Ethiopia very shortly and i am getting very excited as i am also planning to visit an old work college from way back, The Rt. Rev. Andrew Proud.I need to go soon as he will be leaving his Diocese next month.

The Rev Paul Whicker

February 8th, 2011, 08:11 PM

Ardimir

"Whicker, do you think the cyanidation process will be used to refine the gold ore? I had done some research into the effects of tailings from abandon mines that used the process on water quality in the western US."

A Preliminary Economic Assessment undertaken by SRK will be
complete this quarter. Initial metallurgical and design work points to an
open-pit mine and excellent processing characteristics, with conventional
cyanidation giving gold recoveries of +95%.

http://www.nyotaminerals.com/files/pdf-04102010NYOMetTestResults_1.pdf

http://www.mediafire.com/?c5wko3rxzofgm2v DOWNLOAD

rev

musiccity

February 8th, 2011, 08:18 PM

Interesting!

Simfan34

February 10th, 2011, 08:56 PM

The ever increasing fuel consumption is eating up almost all of the country's foreign currency. I think I've read somewhere that 90% of it is used to cover the fuel imports.

Oh I'm glad to hear that. We supposedly have a lot of natural gas, all our cars ought to run on LNG! :lol:

The Rev Paul Whicker

February 11th, 2011, 10:07 PM

The reason why i believe resources will double at Tulu Kapi and an annoucement made some time during the next week or 2 is,the orginal resource was 690,000 ounces which then exactly doubled to 1.380,000 ounces after 25 reverse circulation drill holes were made.

http://www.nyotaminerals.com/files/pdf-060510NYOResourceUpgradefinalASX_1.pdf

"Nyota completed an infill drilling programme between drill traverse lines to
increase the level of confidence attributable to earlier diamond drilling.**"

Whats changed since the last resource increase is this.

"Assay data for the balance of 10 RC holes that make up this particular drill
programme will be incorporated into future resource estimations.**"

http://www.nyotaminerals.com/files/pdf-060510NYOResourceUpgradefinalASX_1.pdf

"On 17 June 2010, Nyota announced that a new high grade structure (termed Lode 3) had been discovered beneath the current Inferred Resource that intersected 8.7 metres averaging 8.9 grams per tonne (g/t) of gold "

http://www.nyotaminerals.com/files/pdf-29072010NYOQuarterlyReport30June2010_1.pdf

"Positive RC results have been received for preliminary expansion drilling to the west of the existing resource"

http://www.nyotaminerals.com/files/pdf-05082010NYOFurtherPositiveDrillingResults_1.pdf

Stepout drilling confirms gold mineralization is open to the north with TKRC111 intersecting 44m of 2.09 g/t Au including 18m at 3.94 g/t A

http://www.nyotaminerals.com/files/09122010_NYO_Drilling_Update_1.pdf

"Further positive drill results received from 51 additional reverse circulation and 9
diamond drill holes, with positive results for expansion drilling to the west, north, south and at depth of the existing resource as well as intersection of new Lode 0 to the west"

http://www.nyotaminerals.com/files/pdf-28102010NYOQuarterlyReport30September2010_1.pdf

"Nyota is pleased to announce the discovery of feeder zone style mineralization characterised by abundant visible gold (“Au”) and associated high Au grades.*"

http://www.nyotaminerals.com/files/09122010_NYO_Drilling_Update_1.pdf

Page 11 http://www.nyotaminerals.com/docs/NyotaPPT.pdf shows Lode 1-4 and the high grade feeder system.

Basically what this means is the drilling program has successfully stepped out North,South and West and in doing so made Tulu Kapi bigger ,in addition to that they have made downward discovers Lodes 3 and 4,the previous 1.38m ounce resource was based on only Lodes 1 and 2 .Add to that the abundance of gold from the newly discovered feeder zone,and it becomes very hard to imagine resources not reaching at least 2,760,000 ounces.

The Preliminary Economic Assessment Feasibility Study will also include the Metallurgical Test ,the results of which we already know.

Average gold recoveries in excess of 95% are indicated

Results demonstrate the potential for high recoveries and low operating costs at Tulu Kapi

The test work results will be used to generate estimates of the gold recovery and the capital and operating costs of a gold recovery plant for Tulu Kapi. These results will be incorporated into the Preliminary Economic Assessment Feasibility Study

http://www.nyotaminerals.com/files/pdf-04102010NYOMetTestResults_1.pdf

Indicated Category

"We continue to make rapid progress in all areas of the exploration programme. Infill drilling has been completed and we are continuing toward increasing the Inferred resource and establishing an Indicated resource at the Tulu Kapi Gold Project."

"Since the Company’s announcement of 17 June 2010, gold fire assay results have been received for a further 30 RC drill holes covering the Tulu Kapi Project. This includes 20 infill drilling holes to increase the drill hole density over the existing resource and improve the level of confidence in the resource model with the aim of enabling a significant proportion of the existing resource to be reclassified into the Indicated category. "

http://www.nyotaminerals.com/files/pdf-05082010NYOFurtherPositiveDrillingResults_1.pdf

LONDON, January 28 /PRNewswire/ -- Edison Investment Research has re-run its analysis to determine differentiated values for 'measured', 'indicated' and 'inferred' resource ounces to include the Canadian, Australian and South African markets as well as the London one. In doing so, it has been able to determine that the average value of a 'measured' resource ounce globally is US$340/oz, while that of an 'indicated' ounce is US$159/oz and that of an 'inferred' ounce is US$34/oz (excluding Witwatersrand ounces). An average ounce is worth US$158.56/oz, which contrasts sharply with both its cost of discovery (US$8.81/oz, as determined by leading international accountancy firm BDO) and a historic benchmark valuation of US$35/oz.

http://www.resourceinvestor.com/News/2010/1/Pages/Edison-says-goldvaluation-benchmarks-are-obsolete.aspx

A review and revision of the gold resource estimates using current gold prices

http://www.nyotaminerals.com/docs/NyotaPPT.pdf

Putting this altogether.

"significant proportion of the existing resource to be reclassified into the Indicated category. "

" while that of an 'indicated' ounce is US$159/oz " (28/01/10 gold is up $300 since then)

"gold resource estimates using current gold prices "

And adding the Metallurgical Test Results and you get at least a doubling of todays share price, which is why i took the opportunity this week of adding another 100,000 shares to my portfollio.

I leave on Saturday

God bless

Rev

abesha

February 11th, 2011, 10:39 PM

Have a safe trip! And thank you for the update. I truly hope we find more and more. This country is so unexplored we really have no idea what's lying under our soil.

And bring back lots of pics! ;)

Yoniii

February 13th, 2011, 04:06 PM

Ethiopia May Take Over Petronas Assets in Ogaden

By William Davison - Feb 12, 2011

The Ethiopian government may take over Petroliam Nasional Bhd.’s oil and gas holdings in the Ogaden region rather than approving a sale to SouthWest Energy (H.K.) Ltd., The Reporter said, citing an unidentified official at the Mines Ministry.

Hong Kong-based SouthWest announced on Oct. 6 that it purchased the oil and gas fields in the arid region where rebels have been fighting the government for more than three decades. In April 2007, the Ogaden National Liberation Front attacked an exploration site operated by China’s Zhongyuan Petroleum Exploration Bureau, killing nine Chinese workers and 65 Ethiopians.

To contact the reporter on this story: William Davison in Addis Ababa via Johannesburg at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.

Yoniii

February 17th, 2011, 07:31 PM

Traditional Gold Production in Ethiopia Increases 300 Percent

BY NEW BUSINESS ETHIOPIA REPORTER (http://newbusinessethiopia.com/index.php?option=com_content&view=article&id=431:traditional-gold-production-in-ethiopia-increases-300-percent&catid=35:trade&Itemid=12)

http://newbusinessethiopia.com/images/stories/gold-bars%20new.jpg

Ethiopia secures a total of 114 million US dollars foreign currency in six months from the export of 2,731 kilograms of gold mined by traditional gold miners, the Ministry of Mines indicated.

As compared to the amount of gold produced by traditional miners the previous fiscal year same period (July 8, 2009 - January 7, 2010), the amount is greater by 2,042 kilograms, which is around 300 percent. The East African country is now benefiting from both global gold price hike and production increment.

Briefing local media at her office Minister Mines Sinkinesh Ejigu indicated that the export earning obtained from the gold produced by traditional miners is 56 percent higher than the ministry’s target for the period (July 8, 2010 – January 7, 2011).

“This is very much encouraging result; it is almost the amount of gold exported by MIDROC. As a result, we now planning to revise and increase our five year gold production target by traditional miners,” Sinknesh said.

According to the document the ministry discussed with its employees this morning, its target at the end of the five year transformation period (2011- 2015) was to increase gold production capacity of traditional miners to 5,250 kilograms per annum from 2,866 kilograms.

“Even though it is not recommendable to expand traditional mining system, the only feasible option we have at the moment is to support the miners and work towards improving the market system by channelling them from smuggling to legally selling their products to the national bank,” she said.

Now, the ministry plans to increase the number of traditional gold miners unions and associations in the country to 593 from 243.

With regards to increasing the amount of gold production by companies, the ministry has also set a target to boot the production from the current 3,907 kilograms per annum to 8,700 kilograms at the end 2015.

AM2

February 19th, 2011, 12:29 AM

^^ I think legalising the traditional gold mining sector has helped a lot. A few years ago, a lot of the gold used to be smuggled out to neighbouring countries ... not any more.

The Rev Paul Whicker

February 19th, 2011, 04:38 PM

2,731 kilograms of gold is about 100,000 ounces!!!! And thats just from traditional mines.:bash:

http://www.ethiotube.net/video/5469/ETV-News--Traditional-Gold-Mining-in-Ethiopia

http://www.ethiotube.net/video/4282/Digging-For-The-Truth--Quest-for-King-Solomons-Gold

I am still in Mombasa at the moment staying with my son and his family,its only the second time i have been able to spend time with my grandson.I plan to leave for Addis Adaba next week via Lamu which as some of you know is another place i am very interested in,still not sure if that is the right place to have an all singing on dancing chinese paid for concrete port right next to an International Heritage Site,but what can you do.

The last time i tried to visit Ethiopia overland from Kenya was about 15 years ago, a vital road bridge collapsed due to a heavy flooding and so i had to turn back.I am not expecting that to happen this time.lol

Boy is it hot here,sorry if there are any typing mistakes ,the keyboard i am using in this internet cafe is so worn out i am having to guess the letters.I am surprising myself as to how good i am at it.

From the recent company announcement

"The presence of gold mineralisation in another syenite indicates
further evidence of a structural corridor extending from Tulu Kapi, north through the UNDP Prospect
and for a further estimated 10 km within which lies a number of other discrete Tulu Kapi style syenites
that remain to be explored (the “Tulu Kapi Trend”). Further drilling is required over the UNDP Prospect
before the true potential for a resource can be confirmed."

http://www.nyotaminerals.com/files/270111NYODrillingUpdate_1.pdf

Corridors

The way I read the citation is they are using the term "corridor" to describe a pathway for hydrothermal fluids. The corridor could be fractures or faulting present in the regional structural framework.

I see their use of "corridor" much the same way you see the term "fairway" used in regard to migration of petroleum hydrocarbons. They are a nebulous term to describe a "pathway" by which the ore bearing fluids or hydrocarbons traveled to their ultimate location of deposition or accumulation.

If they could map the fractures or faults along which the hydrothermal fluids moved, they would have no need to use a term of inferrence.

So they think one exists based on the existence of the second syenite, but cannot map or identify it for sure.

If the ultimate location of deposition/accumulation is the UNDP prospect then expect it to contribute to additional gold resources .

I learned that ore deposition depended a lot of temperature and pressure and any drastic change could alter the phase state leading to deposition of metallic ions in a hydrothermal fluid. This means that if fluids were injected into a body of rock surrounding an igneous body by fracturing, the fluids traveling along the fractures could begin depositing metallic ore as they cooled due to contact with the surrounding rock and release of confining pressure.

God bless

The Reverend Paul Whicker:pepper::pepper::pepper:

abesha

February 19th, 2011, 04:42 PM

Hey, thanks for sharing that.

Just be careful it doesn't get you in trouble though to post private conversations. I don't know about your company policy, but it could breach it. Just a heads up ;)

Enjoy your trip to Addis. It'll be significantly cooler than Mombasa, hang in there lol.

abesha

February 21st, 2011, 04:41 PM

Ethiopian progress for StratexAIM-quoted explorer Stratex International has identified high grade gold and silver mineralisation at AbiAdi in Ethiopia.

Stratex undertook a programme of 212 rock samples and 16% of them were graded greater than 1g/tonne of gold. A gold-bearing quartz vein system has been identified over a strike length of 2.86km, which is up to 8m wide at some points. A more extensive rock sampling programme starts in the second quarter of 2011.

Stratex can earn up to 75% of AbiAdi by spending $1m. A joint venture would then be formed and Stratex could increase its stake to 85%. The identification of silver could help the project to be more commercial.

Stratex has also identified the Mariam Hill gold discovery at the Tigray licence in Ethiopia. This is still an early stage discovery. http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=4061710

Skyliner123

February 21st, 2011, 11:59 PM

Stratex International finds high-grade gold and silver in Ethiopia12:24 pm by Jamie Ashcroft
Straex has a portfolio of relatively early stage exploration licenses in Ethiopia and Djibouti, and 'due diligence' exploration work hasunearthed grades up to 48.9 gold and 470 grams per tonne silver at the AbiAdi prospect in Ethiopia Stratex International (LON:STI) has found high-grade gold and silver mineralisation in the Tigray province of Ethiopia.

In November last year it optioned-into the Tigray Licence, which hosts the AbiAdi project.

Through a deal with Ethiopian firm Loz-Bez Mining it can earn a 75 percent stake in the Tigray license by spending US$50,000 on due diligence exploration work and a total of US$1 million over a 36 month period – including a 3,000 metre drilling programme.

The company has now revealed that the due diligence exploration work on AbiAdi has unearthed grades up to 48.9 gold and 470 grams per tonne silver.

At AbiAdi Stratex took 212 rock samples and 43 percent had gold grades above 0.1 grams per tonne gold and 16 percent had more than 1 gram per tonne silver. Notably 5 percent of the samples had more than 100 grams per tonne silver.

"These excellent results from AbiAdi underpin the exciting prospectivity of the Tigray region of northern Ethiopia and highlight the potential of our increasing project pipeline in the region,” Stratex executive director David Hall said.

Geologists have defined a significant corridor of high-grade gold-silver mineralisation which extends over a strike length of nearly 3 kilometres, which bears similarities to Chalice Gold's Zara deposit in Eritrea, which has defined circa 840,000oz gold grading 5.3 grams per tonne gold.”

Hall adds: “The presence of multi-ounce silver with the current silver price above US$30 per ounce enhances the potential economics if the project moves along to development as we hope it will.”

Stratex has decided to exercise its option over the Tigray license, and the AbiAdi project. It plans to fast-track AbiAdi to the drilling phase, but first an extensive rock sampling programme will get underway in the second quarter.

“Based on these encouraging results, and the wider potential of the licence area, we will exercise our option to continue work at AbiAdi to further delineate mineralisation so that we may rapidly progress the project to a drill-ready status before the end of the year,” Hall added.

Meanwhile at the wholly-owned Tigray EEL, which is about 75 kilometres north of AbiAdi, the Stratex team has carried out a licence-wide stream sediment sampling programme. Through this process the company has discovered the Mariam Hill prospect.

It has subsequently carried out selective rock-chip sampling. It found up to 8.65 grams per tonne gold, 205 grams per tonne silver, 0.12 percent copper and 1.32 percent lead from a single rock chip sample.

Also ‘channel-chip’ sampling yielded two continuous intervals with 7 metres grading 0.82 grams per tonne gold and 10 metres at 0.23 grams per tonne gold. Stratex plans to do more work later this year.

Stratex highlights that the gold bearing quartz-vein system has been identified over a 2.86 kilometre strike length, with widths of up to 8 metres.

Hall adds: “The discovery at Mariam Hill is intriguing, showing a similar association of gold with lead in quartz veins and we look forward to examining this further."

In Africa, Stratex has a portfolio of relatively early stage exploration licenses in Ethiopia and Djibouti. As well as its joint venture prospects with Anglo-gold Ashanti (NYSE:AU) - via the Thani Ashanti subsidiary - in the Afar depression, the AIM-listed gold company also number of other interest.

Stratex has an agreement with Thani Ashanti, an AngloGold Ashanti and Thani Investments joint venture company, to fast-track the development of eleven licences collectively known as the Afar Project, located in the Afar Depression of eastern Ethiopia and Djibouti.

The Afar Project includes five exploration licences in Ethiopia and six in Djibouti.

Thani Ashanti has the option to earn a 51 per cent of the project by spending US$3 million.

Earlier this month the partners found epithermal gold in the Asal exploration licence area – one of the Djibouti licenses. This effectively proved that the Afar gold district extends from Ethiopia into the Republic of Djibouti.

Stratex also has a portfolio of more advanced joint venture projects in Turkey.

Yoniii

February 22nd, 2011, 01:08 PM

Gold overtakes oilseeds as Ethiopia's second biggest export

APA-Addis Ababa (Ethiopia) Gold has become Ethiopia’s second export item, next to coffee, for the first time in Ethiopian export trade history, APA learns here on Monday.

The Ethiopian Ministry of Trade statistics show that gold overtook oilseeds in terms of generating the largest amount of foreign currency for the country.

“Gold has became Ethiopia’s second largest source of export revenue after coffee, constituting $179.2 million of the over $1.14 billion total export revenue the country got in the past six months,” said the ministry.

It was reported that oilseeds lost its place generating $102.8 million during the period of exports, and taking fourth place.

Ethiopia exports its gold to various countries around the world, including African countries.

Live animals stood in fifth place, enabling the nation to obtain $76.6 million followed by flower, accounting for $76.5 million, according to the ministry.

Coffee has continued to dwarf the rest of export products by bringing $320.million for the nation during the reported period.

Ethiopia, the birth place of coffee, is the major coffee exporter from Africa, is getting annually around $ 600 million in revenue from coffee.

The Rev Paul Whicker

February 28th, 2011, 04:34 PM

Ardamir

Whicker, do you think the cyanidation process will be used to refine the gold ore? I had done some research into the effects of tailings from abandon mines that used the process on water quality in the western US.

-----------------------------------------------------------------------------------------------

The Company is also examining an exciting alternative concentration method whereby it can ‘float off’ a large portion of barren internal waste before the leach process. If successful, this will have a positive impact on the both the capital cost (as much less plant equipment and tailings treatment will be required) and the operating
cost (as the water and power consumption will drop).

http://www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_Sept2010/Ocean%20Equities%20African%20Gold%20Conference%20Research%20Sept%202010.pdf

IFC’s investment will be used by Nyota, an AIM and ASX listed mining company focused on gold exploration, for the advancement of the Tulu Kapi Gold Project in Western Ethiopia and for general corporate working capital. IFC also will work with the company to ensure that exploration and any subsequent mine development is carried out in an environmentally and socially sustainable manner.

http://www.ifc.org/ifcext/media.nsf/content/SelectedPressRelease?OpenDocument&UNID=EAFED18B25A2E45985257730006CDB06

The recovery of different metals and other minerals commonly use floatation methods, but it depends on what makes the most economic sense.

For instance, flotation methods for lead and zinc have been used for close to 100yrs.

Gold has been recovered by leaching with Cyanide for 115 years. In the old days, a pile of crushed ore was treated with a cyanide solution and the solution recovered with the gold dissolved in it then treated with Zinc to precipitate the gold back into a solid.

As you can imagine, this process was not too environmentally friendly in the old days, and still poses problems today. Ore does not only contain gold, but a host of other metals that can bind with the cyanide, creating cyanitic compounds that stay in the gange or tailings posing a lot of post processing problems. A lot of the old contaminated mining sites in the US and around the world still deal with old piles of cyanide contaminated tailings.

The benifit of not having to treat as large a quantity of ore by doing a preconcentration are obvious. Less cyanide solution needs to be used, and the quantity of cyanide affected tailings in reduced.

Once again it is a case of economics. Today, liability for cleaning up environmental messes, or governments being more assertive in their dealing with mining companies has forced the companies either through post mining litigation or more stringent contract terms, to clean up their messes.

It is less expensive to do this sort of pre-processing than pay tens of millions of dollars or pounds in clean-up, litigation and injury awards.

Floatation is done by specific gravity. Today, the processing is done in a plant under controlled processes but the spent ore or tailings still must be disposed of.

The ore is crushed to a powder, or close to it, and then put into tanks water. Organic surfacatants and wetting agents are added to increase the difference in hydrophobicity and hydrophilicity of the materials. A froth is formed carrying away the lighter fraction and concentrating the gold bearing portion along with other metals. The treatment or dissolution of the gold in the cyanide solution can take from 10 to 44 hours depending on particle size of the gold, solution concentration and other metals present that might inhibit the process.

So yes, for most companies you would think this would be a first choice, but it hasn't always.

Sounds to me like the company is trying to project a "greener" image , i suspect the IFC's involvement has got a lot to do with that. A lot of mining companies who operate in remote areas, do not have a very good track record. Large runoff areas in Papua New Guinea and even of late in the US, were compromised by the operations of gold mining companies from Australia and Canada, who by the way, are the last remaining major players in the commercial precious metals mining industry.

I am staying at the Addis View Hotel,its around the corner from and in easy walking
distance to St Matthews.Great service yesterday morning in English!!And a very pleasant informal gathering on Sunday evening,I was made very welcome so much so,during the service i was called to go to the front and give a testimony .

As soon as i stood up to make the walk the choir started sing "you are welcome,you are welcome,to our church,to our church!"(repeat x8)Its doesnt get anymore welcoming than that.

I leave tomorrow , Gondar will be my first port of call before arriving at Tulu Kapi.I am expecting a drilling update sometime between now and my arrival ,so the atmosphere at TK should be even more electric than is was at St Matthews !!

Rev

AM2

February 28th, 2011, 06:54 PM

^^ Interesting post, thank you. Good to hear you made it to Addis. Did you go by road from Kenya? I thought you mentioned that in an earlier post?

yosef

March 1st, 2011, 09:20 PM

Looks like Stratex has found more gold after its discovery last week, this time in Afar.......

Stratex boosted by Ethiopian gold discovery

AIM-listed explorer Stratex International (STI) announced the discovery of epithermal gold mineralisation at the newly acquired 299 sq km Blackrock Exclusive Exploration Licence (EEL) in the northern Afar region of Ethiopia.

This expands the potential size of the epithermal gold district - located 260 km north of Megenta - with further exploration work set to commence in March, with the aim of fast-tracking prospects through to drill-ready status before end-2011.

The news pushed shares in the company up by almost 5% in morning trading on Monday. FoxDavies has published a flash note giving a target price of 10p.

"This newly discovered occurrence of low-sulphidation epithermal-type mineralisation at Blackrock is hot on the heels of our recent discovery of Asal in Djibouti, in addition to the Megenta and Mille prospects in Ethiopia," commented Stratex executive director, David Hall. "Together they highlight the ever expanding area of interest within the Afar district and demonstrate the potential of what we believe to be a new metallogenic province. We continue to look for further discoveries and our teams on the ground are field-checking numerous targets.

"Our 3,000 metre drill programme at Megenta is due to commence in April 2011, marking the first system to be drill tested, and we look forward to advancing further targets towards drill definition."

The company said the Blackrock EEL covers an area of 299 sq km within northern Afar and is located close to the small town of Dallol. Within the licence area, four vein exposures hosting low-sulphidation mineralisation have been identified over a distance of 15.9 km, hosted within structures associated with Red Sea-parallel half-graben faults.

Stratex's total land package in the Afar region, including Blackrock, now stands at 3,853 sq km. The Company also has 138 sq km covering an epithermal target at Gademsa in the Main Ethiopian Rift.

Last week, the company said it had identified identified high grade gold and silver mineralisation at AbiAdi in Ethiopia. Stratex has also identified the Mariam Hill gold discovery at the Tigray licence in Ethiopia. This is still an early stage discovery.

http://www.iii.co.uk/articles/14495/stratex-boosted-ethiopian-gold-discovery

yosef

March 1st, 2011, 09:23 PM

Good to see youve made it to Ethiopia Paul, keep us updated when you can. :okay:

Simfan34

March 1st, 2011, 09:52 PM

Take some pics for us if you can! :P

The Rev Paul Whicker

March 5th, 2011, 12:25 AM

I dont really know where to begin.Basically a lot has changed primarily the fundamentals and with regret in a big way.

The long awaited preliminary economic assessment has as last come out,unfortunately its not good news.

The main thing that has changed is Nyota Minerals have gone from an exploration /soon to be a gold producing company ,back to just being an exploration company again.This fundamental change is going to take along time for shareholders to absorb,and for lesser experienced shareholders the penny probably wont drop until they see the share price fall back to single figures/very low teens again.

For reasons beyond my imagination ,SRK Consulting UK Limited advised that should TK ever go into pruduction a carbon in leach plant should be used at a provisional capital cost of US$199.8 million.That is £125 million ,the companies current market cap.is only £80 million .I was hoping that should production ever go ahead, the IFC as the companies biggest shareholder would agree to a 50% of the costs loan and the rest would come from investors with the issue of new shares,but with the cost of production being so high thanks to the low grades ,i cant see that happening now.The company wouldnt beable to make the interest payments should gold fall back to more average levels,and for that reason i cant imagine the IFC making any loan.Basically because it isnt possible for them to raise the capital required the probability of it happening is close to zero .Also i cant see them even being able to sell this asset to a large producer with deeper pockets as there isnt enough fat on it and is too small for it to pass any large company risk management test,particularly in this present high political climate.

Below shows the cut-off grades used ( a,b,c.) taken from the PEA. As you can see they have needed to lower the gold per ton in order for 1,189 million oz to fall into the inferred and Indicated category.It used to be 0.5g before.

(a) Saprolite within an optimised open-pit shell, defined with appropriate technical and economic parameters, at a gold
price of USD1207/oz Gold Price, at a calculated cut-off grade of 0.24 g/t Au.
(b) Fresh-rock within an optimised open-pit shell, defined with appropriate technical and economic parameters, at a gold
price of USD1207/oz Gold Price, at a calculated cut-off grade of 0.37 g/t Au.
(b) Fresh-rock outside of the optimised open-pit shell with reasonable prospect for underground mining defined with
appropriate technical and economic parameters, at a gold price of USD1207/oz Gold Price, at a calculated cut-off grade of
1.05 g/t Au.

http://www.nyotaminerals.com/files/0303201NYOPEA_1.pdf

Taken from the previous resource upgrade RNS 6th May 2010

Nyota is pleased to announce an increase in the Inferred Resource at the Company’s Tulu
Kapi Gold Project in Ethiopia to 1.38 million ounces, defined at a cut off grade of 0.50g/t Au.**

http://www.nyotaminerals.com/files/pdf-060510NYOResourceUpgradefinalASX_1.pdf

Terry Tucker

The reason he was sacked was either because of A) His comments during the time of the feeder zone discovery had a catalystic effect on the shareprice which seems totally irresponsible now given this weeks news.Or B) He had something to do with the shareprice falling from 30p to 20p before the PEA even went public.???

From the 24/12/2010 RNS

Insider Trading Prohibition

In summary, Restricted Persons of the Company must not, whether in their own
capacity or as an agent for another, subscribe for, purchase or sell, or enter into an
agreement to subscribe for, purchase or sell, any securities in the Company, or
procure another person to do so:

1. if that Restricted Person possesses information that a reasonable person
would expect to have a material effect on the price or value of the securities or
influence a person's decision to buy or sell the securities in the Company if the
information was generally available;

2. if the Restricted Person knows or ought reasonably to know, that:

(a) the information is not generally available; and
(b) if it were generally available, it might have a material effect on the price
or value of the securities in the Company or influence a person's
decision to buy or sell the securities in the Company.

Further, Restricted Persons must not either directly or indirectly pass on this kind of
information to another person if they know, or ought reasonably to know, that this
other person is likely to deal in the securities of the Company or procure another
person to do so.

Breaches

Breach of the insider trading prohibition could exposure you to criminal and civil
liability. Breach of insider trading law or this Policy will be regarded by the Company
as serious misconduct which may lead to disciplinary action and or dismissal.

http://www.nyotaminerals.com/files/pdf-24122010NYOPolicyforTradinginCompanySecurities_1.pdf

About the trip to TK.

Obviously i am feeling a bit stupid now as i have come all this way to see it ,and at the eleventh hour i find myself no longer a shareholder.I am seriously thinking i might go to The Blue Falls instead.The good news is the share price held up on the day the 3 RNS's came out,which is something i thank God for,as it gave me enough time to ring friends back home .

"The grades for open pit mining appear relatively low with saprolite ore at around 0.48-0.55g/t, and fresh rock at 1.14-1.24g/t, the resources in the saprolite stand at 60,000oz and in the hard rock at 1.027moz. Much will depend on the stripping profile for which these latest results give no guidance. However, the hard rock grades could well be reasonably economic."

http://uk.ibtimes.com/articles/20110304/fairfax-morning-view-friday-nyo.htm

The stripping profile refers to the stripping ratio. That being the amount of waste rock removed per amount of ore rock. A 3:1 ratio would mean three tons of waste rock needs be removed to recover one ton of ore rock.Think of the process they do in strip mining to get at the coal beds. The cost goes up if the waste rock needs to be transported very far, stored then replaced, if reclaimation is mandated.Any ratio greater than 0:0 is bad news because of their already low grades

Saprolite is usually a term referring to weathered friable or crumbly granite, but is sometimes used as a generic term for rotten weathered rock. That is why there is such a difference between the amount recovered per ton of saprolite versus hard rock. Saprolite consistes of quartz and feldspar grains intermixed with clay and silt: debris of the disaggregating rock.

Finally

I will leave you with part of an email sent to me from my cousin a chart analyst at Barclays Banks date 2/10/09 reference NYO.

With any investment, you should always ask yourself "would I be happy buying these shares at the current price", and try and forget the price at which you originally bought, which could be higher or lower than the current price. As soon as you're not comfortable with the company's prospects, whatever the price is at that point then you should sell. Things can change quickly, so if there's some problem with the company and the shares drop in value, selling them at a loss may be much better than hanging on and just hoping for a recovery. So although things look good for Nyota at the moment, you need to keep monitoring the situation.

No gold,no CEO,sold!!!

http://www.barchart.com/opinions/stocks/NYO.LS

God bless

The Vicar :badnews::badnews:

Simfan34

March 5th, 2011, 12:33 AM

^^I'm very sorry to hear that, sounds like you were quite exposed to the company. I wouldn't visit the Blue Nile Falls, chances are it's off.

The Rev Paul Whicker

March 5th, 2011, 04:33 PM

What was the banning for?

Hersh

March 5th, 2011, 05:59 PM

^^Pardon?

The Rev Paul Whicker

March 5th, 2011, 07:29 PM

WHAT WAS THE BANNING FOR?!!!!!

Hersh

March 5th, 2011, 08:58 PM

I'm not sure I follow. What banning? Were you banned? :dunno:

Edit:
Oh, you must be talking about Simfan34's signature. He didn't actually write it in response to this thread. Abesha just requested a self-imposed ban from one of the mods. She wanted to get school work done, I surmise.

AM2

March 14th, 2011, 07:48 PM

Ethiopia - an emerging mining location
Ethiopia is an up-and-coming mining location. Mining Engineer and senior consultant Wondimu W.Yohannes gives a personal perspective.
LONDON -

Emerging mining frontiers are often not new but for a variety of reasons they have fallen from the mining company radar. Sometimes it is political instability, the worst case being civil war, or that the taxation or legal code is not as attractive as other locations across the globe. In some cases it is that they are simply forgotten. My country, Ethiopia, has fallen into all these categories yet it has considerable mineral deposits including gold, industrial minerals and rare metals. Over the past year I have been working ‘back home' and witnessed a sea change in mineral exploration with a number of companies, particularly juniors, engaged in precious metals exploration. The rich geological potential, the relative political stability, and new competitive investment and taxation codes are considered to be the main factors for the enhanced mining investment. However this environment also has its challenges for investors, governments and local communities.

Wealth of resources

The geology of Ethiopia can be divided into three major geological terranes. Proterozoic crystalline basement, most prospective for gold, underlies about 19% of the country hosting nearly all of the known gold occurrences. Late Palaeozoic, Mesozoic and Tertiary continental and marine sediments occur mostly in the east and occupy about 25% of the land area of Ethiopia, with the remaining 56% underlain by Cenozoic volcanic and sedimentary rocks, including those of the East African Rift Valley which transects the country in a north-easterly direction. This gives a wide variety of mineralising environments.

Historically, the international mining industry has paid relatively little attention to the gold potential of Ethiopia despite placer gold mining dating back at least 2500 years. It is estimated that very large tonnages of gold have been produced from deposits of this type. In terms of geological mapping the Geological Survey of Ethiopia (GSE) has covered about 50% of Ethiopia's 1.2 million km2, including the major greenstone belts, at 1:250,000 scale. Since then potentially economic gold resources, mainly in mesothermal or orogenic deposits, have been outlined at several localities. However, most investigations have been of a reconnaissance nature with extensive areas of prospective ground remaining under-explored.

The first major exploration campaign for gold was the Adola Gold Exploration Project led by the former Soviet Union in the early 80s concentrating on the Southern Greenstone Belt. This was followed by the GSE working in collaboration with the United Nations Development Programme (UNDP), initially in western Ethiopia. Subsequently the focus shifted to southern Ethiopia, with an airborne geophysical survey over about 3000 km2 of the Adola Belt carried out in 1993. The next major initiative was the five-year Ethionor project, a Norwegian-GSE collaboration that started in1996.

Historically a number of companies carried out systematic exploration. These included Ashanti, Canyon Resources, Emerging Africa Gold, Golden Star, JCI, Rift Resources and Tan Range. According to a study funded by the UNDP gold, tantalum, soda ash, potash, nickel and platinum minerals have the most potential for development.

Significant gold mineralisation is found in three regions; Southern Greenstone Belt (including the Adola, Ageremariam and Moyale areas); Western Greenstone Belt (including the Akobo area) and the Northern (or Tigray) Greenstone Belt. More than sixty shear-zone hosted gold occurrences have been identified in the main greenstone belts but no detailed information is available for most of these. In recent years the GSE has carried out regional and detailed surveys in several prospective sectors of the greenstone belts. The diverse geology of Ethiopia has potential for the occurrence of gold in a variety of deposit types in addition to mesothermal quartz-veins including epithermal gold in rift and other volcanic settings, porphyry copper-gold, ophiolite-associated, intrusion-related gold, iron-oxide copper gold (IOCG), gold-bearing massive sulphides, and finally placers.

Renewed interest

In the past two years or so the situation has changed dramatically with early and advanced explorations underway by international and local companies. These include Aberdeen International Inc, a Canadian company targeting gold and associated metals in western and northern greenstone belts; Ezana Mining Development plc. in joint venture with the Chinese company Donia Beijing is conducting base metals resource estimation as well as exploration in northern greenstone belt. Stratex International plc and Nyota plc. are exploring gold and base metals in northern greenstone belt. Midroc Gold Pvt Ltd has started deep bore hole drilling in the western Ethiopia greenstone belt in addition to operating the Legadembi mine that produces c 130,000 oz annually. Exploration for base metals and industrial minerals continues including Canadian Allana Resources potash project in the Danakil depression. Saink Potash plc of Indian is also exploring in the area.

Factors of investment attraction and development

The stimulus for this extensive exploration work is the revised legislation. In July 2010 the government enacted new mining and mining income tax laws entitled, ‘A Proclamation to Promote Sustainable Development of Mineral Resources' to make the minerals sector more favourable for foreign investment. The main points are listed below

Licenses

Four types of licenses: Reconnaissance, Exploration, Retention, Artisanal, Small Scale Mining and Large Scale Mining Licenses

Licensing Authority of the Ministry and the regional states: The regional states issue artisanal mining license and reconnaissance, exploration and retention licenses with respect to construction and industrial minerals. The Ministry of Mines (MOM) has the power to issue reconnaissance, exploration, retention and mining licenses

Royalty: Precious minerals- 8%, Semi-precious minerals 6%, Metallic minerals 5%, Industrial minerals 4%, Construction minerals 3%, Salt 4%, Geothermal 2%

However to ensure the Mining Act encourages long-term investment a number of sustaining environments require development. First is infrastructure. As the mineral potential in the regions with relatively well developed infrastructure diminishes, governments and investors need to be prepared to expand mineral development in the remote but rewarding regions of the country.

There are many areas which are accessible only by helicopter or camel. I have been impressed by the substantial increase of road construction in the rural and urban areas of Ethiopia often following towns and socio-economic development plans. A mining-led infrastructure development including roads should be considered as part of mineral resources development strategy.

There is acute shortage of geologists in the country and this would soon be followed by shortage of mining engineers and other specialists needed to provide supporting services. A strategic plan to increase the mining human resource capacity through government-led and other sources of funding to train specialists in the country and abroad would help in this area of capacity building.

There is however increasing awareness of the role mining might play in a developing economy but in conversation with many local people mining is often misunderstood leading to over-expectation from the sector or conversely not giving it the right priority in development planning and investment allocation because of the inherent risk and long term nature of mine development. Ensuring that the planning and implementation of the mining sector is undertaking as part of the overall development strategy of a country is one way to make mining part of other sectors and gain recognition for its role.

One way to ameliorate this effective stakeholder engagement through collaborative working between exploration companies, government bodies and local communities to create sustainable environment for the operation of companies and local communities. In returning to Ethiopia I was uneasy about personal safety and security.

My main observation is that there is often a gap between what you hear from the outside and the reality I found on the ground. I had anxieties about travel to remote regions, mainly based on discouraging comments on the internet. Instead I found the places I visited had a stable, peaceful and welcoming environment.

Wondimu W.Yohannes, FIMMM and a mining engineer and senior consultant is originally from Ethiopia currently working on the ground in mineral exploration, project management and stakeholder engagement after many years of senior management role in the UK and European partnerships.

Contact Email wyohannes@mulwol.com

http://www.mineweb.com/mineweb/view/mineweb/en/page103118?oid=122842&sn=Detail&pid=102055

AM2

March 14th, 2011, 07:54 PM

And sorry to hear about the bad news Reverend ... although i'm not exactly sure i understand what went wrong ...

yosef

March 24th, 2011, 01:16 AM

Yeah thats tough to hear Rev....I hope you had a pleasant visit to the motherland despite those setbacks though. :)

yosef

March 24th, 2011, 01:21 AM

Fight for Black Gold
Gov’t focus on road project, workers to protect their livelihoods, companies eye bottom-line

http://www.addisfortune.com/Vol_10_No_568_Images/black_gold_min.jpg
caption: The newly installed excavating and crushing machinery at the compound where the seven dark stone producers generate the pebbles popularly known as melkashoni, located in Akaki Kality. Yakob Mohammed (right) worries that he may lose his job as a result of the government’s decision to redistribute the land.

Over 1,000 labourers in the Akaki Kality District allege that they are to lose their jobs unfairly because of a government decision to redistribute the quarry they work on.

Dark stone, commonly referred to as Black Gold by the societies, is extracted in large quantities in the district, around the Akaki River. There are currently seven companies engaged in the extraction of the dark stone in the area; including, among others, Melka Sheno Plc, Mesfin Felatea, Veronica Plc, Astukone Plc, and Zewde Gebre Plc, all of which have licences from the Addis Abeba Environmental Protection Authority (AAEPA).

The Ministry of Mines (MoM) has empowered executive bodies to monitor and license mines and quarries in all of the regions, and the AAEA is one of them.

A formal letter to all the companies was written by the AAEA on February 4, 2011. It stated that the body had cancelled the 10 year old mine exploration contracts that permitted the seven companies to engage in explorations, without giving three months notice. The cancellation is based on Article 3 (2) of the agreement, which states that the government might take the land whenever it finds it necessary for development, the letter read.

It is because the [required] three-month notice will create a delay in the government’s commitment with Chinese company, China Communications Construction Company (CCCC), for the construction of the Addis Abeba to Adama (Nazreth) national road project, that the authority did not give the notice, the letter claimed. A contract has been entered into between the Ministry of Finance and Economic Development (MoFED), and the Export and Import Bank (EXIM) for the construction of a six-lane 80km highway from Addis Abeba to Adama at an estimated cost of 612 million dollars.

This is the development project that is displacing the seven companies in question.

Addis Fortune (http://www.addisfortune.com/Fight%20for%20Black%20Gold.htm)

yosef

March 24th, 2011, 01:24 AM

Africa Oil Ready for Exploration in Ethiopia
Government agrees to plans for the exploration of Rift Valley block

Africa Oil Corporation has completed an airborne gravity and magnetic survey, the required initial survey for the exploration of petroleum, on the Rift Valley Block of South-Western Ethiopia, three weeks ago. The survey was completed by a South African contractor, New Resolution Geo physics (NGR), and it took around three weeks to complete.

A Canadian oil and gas exploration company, Africa Oil, entered into a contract for a joint study with the Ministry of Mines (MoM) to study the Rift Valley Block, which spans 42,519 square kilometres, at a cost of 125,000 dollars, on November, 2010.

However, Africa Oil Corporation has also signed a PSA jointly with Tullo Petroleum and White Nile Petroleum, both UK based companies, to explore the South Omo Valley block, with Tullo Petroleum as the operator by virtue of having the largest share. Africa Oil Corporation currently has a total of four projects in Ethiopia, specifically in the Ogaden Basin, which contains their two blocks in eastern Ethiopia. They have the Adigala Block, close to the border with Somalia and Djibouti and the Rift Valley block in South-western Ethiopia.

“The area is very sensitive, complex, and takes time, which makes it difficult to predict how successful the exploration will be,” explained Ketsela.

Addis Fortune (http://www.addisfortune.com/Africa%20Oil%20Ready%20for%20Exploration%20in%20Ethiopia.htm)

abnet

March 27th, 2011, 09:08 PM

Positive indication for gold in benishangul-gumuz area in west ethiopia.

27 Mar 2011 Press Release

Positive Indications of Gold Mineralization in ASCOM's Ethiopian Concession

ASCOM Precious Metals Mining (APM) announces encouraging indications of gold mineralization from its initial 17 drill holes at the Asosa Concession in Western Ethiopia.
(ASCM.CA on the Egyptian Stock Exchange), Citadel CapitalCitadel CapitalLoading...'s Platform Company in the regional mining industry, announced that subsidiary ASCOM Precious Metals Mining (APM) has received encouraging indications of gold mineralization in the company's Asosa Concession in Western Ethiopia.
. Two years into our Ethiopian gold exploration activities in the West, we are pleased to announce that the first 17 drill holes produced some strong results at Dish Mountain," said ASCOM Precious Metals Mining CEO Kenneth Crichton. "The results of these initial holes have thus far identified at least three potential areas of gold mineralization along a 1.6-kilometer mineralized zone. However, the mineralized zone requires considerably more drilling to determine its economic potential. This will be confirmed by a bankable feasibility study in the future."

Highlights of the Phase 1 drilling program and a table of significant intercepts follow in Appendix.

These early results have confirmed that initial exploration activities that began in 2009-2010 justified a first-phase, 10,000-meter drilling program that commenced in January 2011. The drilling is targeting two prospective areas: Dish Mountain for gold and Abetselo for gold and base metals. Samples from the drill holes at Dish Mountain and Abetselo have thus far been sent to South Africa's ALS Chemex Laboratory, an internationally accredited testing facility.

APM expects to receive the remainder of the drill hole results from Dish Mountain and Abetslo within the coming two months, at which time
will make full disclosure on the details of the gold discovery. A second phase of drilling is planned to commence in May, running through June when the wet season begins. Depending on continuing exploration success, a third phase is planned to start immediately after the wet season in August 2011 through June 2012.

The positive news about Ethiopia comes on the heels of APM's acquisition of precious metals exploration rights on a 3,000-square-kilometer concession in Sudan's Blue Nile State. The company's Ethiopian and Sudanese concessions are both located within the Arabian-Nubian Shield, an under-explored area that is quickly proving itself to be highly prospective for gold and base metals.

APM has promising early results in Sudan, where preliminary remote sensing satellite investigations have been completed and numerous exploration targets have been identified. Exploration in the field has commenced with a soil geochemistry program to begin to rapidly evaluate the prospectivity of these areas as potential drilling targets by 2012.

"These are promising early results," noted Citadel Managing Director Alaa El-Afifi. "We look forward to
's receipt of further drill-hole results from Dish Mountain and Abetslo as well as to the start of the second.

-Ends-

Citadel CapitalCitadel CapitalLoading... (CCAP.CA on the Egyptian Stock Exchange) is the leading private equity in the Middle East and Africa. Citadel CapitalCitadel CapitalLoading... focuses on building regional platforms in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity Specific Funds. Citadel CapitalCitadel CapitalLoading...'s 19 OSFs now control Platform Companies with investments worth more than US$ 8.6 billion in 14 countries spanning 15 industries, including mining, cement, transportation, food and energy. Since 2004, the firm has generated more than US$ 2.5 billion in cash returns to its co-investors and shareholders (on investments of US$ 650 million), more than any other private equity firm in the region. Citadel CapitalCitadel CapitalLoading... is the largest private equity firm in Africa by PE assets under management (2004-2010, as ranked by Private Equity International). For more information, please visit www.citadelcapital.com.

has operations spanning from Egypt to Ethiopia, Syria, the United Arab Emirates, Algeria and Sudan. In addition to mining for precious metals, the company currently produces over 50 million tons of raw material each year, providing 65% of all raw material consumed annually by the Egyptian cement industry.

For more information, please contact:
Ms. Ghada Hammouda
Head of Corporate Communications
Citadel CapitalCitadel CapitalLoading... (S.A.E.)
ghammouda@citadelcapital.com
Tel: +20 2 2791-4440
Fax: +20 22 791-4448
Mobile: +20 16 662-0002

© Press Release 2011
from Citadel Capital Management Corp.

Copyright © 2011 Zawya. All rights reserved. Please read our Terms & Conditions

Yoniii

April 10th, 2011, 06:49 PM

^^ Related to the previous article:

"Egyptian mining company hit immense gold reserve"
By Wudineh Zenebe

An Egyptian mineral exploration company, ASCOM, discovered a vast gold deposit in the Benishangul Regional State, the very same region where Egyptian politician strongly pitted against the construction of the Millennium Dam on the River Nile. :lol: According to sources close to the matter, ASCOM, a company specialized in mining and exploration of industrial and precious minerals in the content, had discovered gold deposits in the region and will start exploration soon. The company’s track record in the venture reveals that it is also undertaking reconnaissance for the same mineral in Sudan around the Blue Nile River and in some sites in Algeria.

ASCOM has five gold concessions in the Benishangul region each with 8000 square kilometers area. According the company, most of the exploration sites that it is operating in, including one in Ethiopia, are within the Arab-Nubia Shield Region. Thus far, it has hit an encouraging prospect in other exploration sites that it acquired in the shield region.

On the other hand, the Egyptian company is not the only one which came into rich gold deposit in the Benishangul regional state. MIDROC Gold, a local mining company founded by the Saudi-Ethiopia business tycoon Sheik Mohamed Al Amoudi, has also discovered gold deposits in the district called Bulen around Moore locality of the region. Two years after MIDROC Gold acquired surveying license from the region, it was learnt that it has discovered immense potential for extraction. According to sources close to the matter, the company has finished reconnaissance in the area and it is set to go after the extraction permit in the prospective sites.

MIDROC Gold first entered the exploration of the precious mineral in Ethiopia after acquiring state owned exploration site-Legedembi, in the Oromia Regional State. It followed up on its Legedembi project with another gold exploration at Sakro area which was successfully moved to extraction phase. While ASCOM, on the other hand, is a company registered at the Egyptian Stock Exchange and has built itself in the mining exploration business.
- EthiopianReporter.com (http://www.ethiopianreporter.com/english/index.php?option=com_content&view=article&id=2099:egyptian-mining-company-hit-immense-gold-reserve&catid=98:news&Itemid=511)

The political media war (over the Nile) isn't affecting our business relationship with Egypt. An Egyptian construction company, for the first time, recently signed a contract to construct parts of the Addis Ababa-Nairobi-Mombasa highway (http://ethiopiaforums.com/ethiopia-egyptian-firm-to-build-parts-of-addis-to-mombassa-road).

enkelfam

April 10th, 2011, 07:17 PM

^^ Related to the previous article:

"Egyptian mining company hit immense gold reserve"

- EthiopianReporter.com (http://www.ethiopianreporter.com/english/index.php?option=com_content&view=article&id=2099:egyptian-mining-company-hit-immense-gold-reserve&catid=98:news&Itemid=511)

The political media war (over the Nile) isn't affecting our business relationship with Egypt. An Egyptian construction company, for the first time, recently signed a contract to construct parts of the Addis Ababa-Nairobi-Mombasa highway (http://ethiopiaforums.com/ethiopia-egyptian-firm-to-build-parts-of-addis-to-mombassa-road).

Ay yante neger! Are you aware of how the CIA/MI6 and their little cousin EGIS ( Egyptian General Intelligence Service) work? ke gebtse yemeta koshasha Engineer selamawi sew meslo Ethiopian wist be teref akababi menged seran eyalu min eyeseru endehone bemen mawek techelaleh?
Just look at the Nile file post I made, go to the link and you can see what one of their goal is in Ethiopia. Andandu banda begenzeb tetalo kenesu gar eyesera agerchenen lemekefafel yemadergut teret aynorem. Menem aynet Arab yemebal neger ayasfelegem Ethiopia wist.

Yoniii

April 10th, 2011, 07:25 PM

I'm a little skeptical about them operating near the Nile or border areas, but, I'm assuming that our intelligence service are capable enough to discover any mischiefs. We can't just assume that all ye gyps investors are spies.

Montrealers

April 11th, 2011, 03:59 AM

abnet

April 17th, 2011, 07:52 PM

More gold found in afar region north east Ethiopia :banana:

Stratex's Hall excited about Blackrock; says Afar region has world class potential PDF Print E-mail
Wednesday, 13 April 2011

Addis Ababa, April 13, 2011 (WIC) - Stratex International director David Hall has described the discovery of significant new epithermal gold mineralisation at the company’s Blackrock exploration licence in Ethiopia as “truly exciting”.

In fact the mining veteran, a former exploration manager for AngloGold Ashanti, says the wider Afar area in which Blackrock is located has the potential to be a world class gold district.

Work on the 299 square kilometre target in the east of country has defined four zones over a distance of 15.9 kilometres, while there’s a total of 14 kilometres of outcropping veins.

Rock chip samples from these veins have yielded gold grades of 2.17 grams per tonne, 2.66 grams and 4.09 grams. Meanwhile, altered conglomerate samples returned a peak grade of 4.28 grams of gold.

Detailed sampling is now underway to define targets for the first drilling campaign later this year.

David Hall, the director responsible for East Africa, said: "The definition of an extensive outcropping epithermal system is truly exciting and highlights the potential of the Blackrock for both bulk tonnage material at surface and bonanza grade veins at depth.

“Based on my past experience, as exploration manager for AngloGold Ashanti in South America, and the results of the early-stage exploration work that we have conducted in the Afar region, I believe the Afar has the potential to be as significant as the world-class Santa Cruz epithermal gold district in Argentina, which is host to the Cerro Vanguardia mine. :banana:

“The textures of the veins show the full range typical of such a low-sulphidation epithermal gold system, from colloform and crustiform banding and ginguro (sulphide-rich) bands, to silicified multi-phase breccias and silicified wall rocks.

"The early gold grades received from Blackrock are highly encouraging and we will now aggressively explore the entire project area to identify key targets for drilling later this year. “ :cheers:

Stratex is one of the AIM market's busiest gold explorers. It has two near-production gold mine development projects and several exploration joint ventures in Turkey, as well as an exciting new exploration frontier in Ethiopia and Djibouti.

Right now most of Stratex’s market value is based on the Turkish assets, and in particular the mine development projects - Inlice and Altıntepe.

Inlice will be the first to be mined, with the first gold pour expected in the first quarter of 2012.

Meanwhile, away from Blackrock it is due to commence a 3,000m drilling programme later this month at its other epithermal gold discovery, Megenta.

Megenta is part of the Afar Project and as such the drilling project will be funded by our joint-venture partner Thani Ashanti. The Blackrock discovery is outside this joint venture and at this stage and Hall said to today “(we have) no intention of joint-venturing this exciting project".

Stratex is one of the AIM market's busiest gold explorers. It has two near-production gold mine development projects and several exploration joint ventures in Turkey, as well as an exciting new exploration frontier in Ethiopia and Djibouti. (www.stratexinternational.com)

lamrof

April 18th, 2011, 04:29 AM

የኢትዮጵያ መልክዓምድር ባለሥልጣን የዩራኒየም ማዕድን ፍንጭ በታየባቸው በባሌና በቦረና አካባቢዎች የሚያካሂደውን የፍለጋ ጥናት የሩሲያ መንግሥት በመደገፍ ላይ እንደሆነ ተገለጸ፡፡
የኢትዮጵያ መልክዓምድር ጥናት ዋና ጠበብት አቶ ሁንዴ መልካ እንደገለጹት፣ የሩሲያ መልክዓምድር ጥናት ባለሥልጣን መሥሪያ ቤታቸው የሚያካሂደውን ዩራኒየም ፍለጋ ጥናት መላዊ ድጋፍ በማድረግ ላይ ይገኛል፡፡ የሩሲያው መልክዓምድር ድርጅት፣ አንድ ሩሲያዊ ባለሙያና የዩራኒየም መመርመሪያ መሣሪያ አቅርቧል ያሉት አቶ ሁንዴ፣ ባለሙያው በመስክና በቢሮ የተለያዩ ሥራዎች በማካሄድ ላይ ይገኛሉ ብለዋል፡፡

ሩሲያዊው ባለሙያ ከኢትዮጵያ መልክዓምድር ጥናት ባለሙያዎች ጋር በመሆን መረጃዎችን በዘመናዊ መንገድ በመሰብሰብ ላይ መሆናቸው ታውቋል፡፡ ከባሌና ከቦረና አካባቢዎች የሚሰበሰቡ ናሙናዎች በቤተ ሙከራ እንደሚመረመሩ የገለጹት አቶ ሁንዴ፣ በቀጣይ ምን ይደረጋል የሚለው የጥናቱ ውጤት ታይቶ የሚወሰን ይሆናል ብለዋል፡፡

‹‹በአሁኑ ወቅት ይህን አግኝተናል ብለን መናገር አንችልም፡፡ ጥናቱ በመካሄድ ላይ ነው፡፡ ጥናቱ ሲጠናቀቅ በቀጣይ ምን ማድረግ ይቻላል የሚለውን እናያለን፡፡ አሁን ግን ይህ ተገኝቷል ማለት አይቻልም፤›› ብለዋል፡፡

በማዕድን ሚኒስቴር የማዕድን ሥራዎች መምሪያ ኃላፊ አቶ ገብረ እግዚአብሔር መኮንን ለሪፖርተር እንደገለጹት፣ ሩሲያዊያኑ የመጡት ማዕድኑን ለማልማት ሳይሆን መላዊ እገዛ ለማድረግ ነው፡፡ ሩሲያዊው የመልክዓምድር ጠበብት ለኢትዮጵያዊያን ባለሙያዎች ሥልጠና በመስጠት ላይ እንደሆኑ ለማወቅ ተችሏል፡፡

ከስድስት ዓመት በፊት የዩራኒየም ፍንጭ በባሌ ዞን በሰብስቤ ዋሻ አካባቢ ተገኝቷል፡፡ ማዕድኑ ሊገኝ የቻለው በአካባቢው የከበሩ ድንጋዮች በመፈለግ ላይ በነበሩ አንድ ኢትዮጵያ ባለሀብት በደረሰ ጥቆማ አማካይነት ነበር፡፡ ለባለሀብቱ ጥቆማውን የሰጡት ከዩራኒየሙ በሚወጣ ጨረር ጉዳት የደረሰባቸው የአካባቢው አርሶ አደሮች ናቸው፡፡ አርሶ አደሮቹ በጨረሩ የሚደርስባቸውን ሕመም ‹‹መጋኛ›› ነው ሲሉ ይገልጹታል፡፡

ባለሀብቱ ከአካባቢው ሰብስበው ያመጧቸው ድንጋዮች ዩራኒየም ያዘሉ እንደሆኑ በማዕድን ሚኒስቴር የከርሰምድር ንጥር ቤተጥናት ተረጋግጧል፡፡ በተጨማሪም የተወሰነ ናሙና ወደ ካናዳ ተልኮ በከርሰምድር ንጥር ቤተጥናት ምርመራ ናሙናው ዩራኒየም እንደሆነ ተረጋግጧል፡፡ ከዚያን ወቅት ጀምሮ የኢትዮጵያ መልክዓምድር ጥናት ባለሥልጣን በባሌና በቦረና አካባቢዎች የተለያዩ የዩራኒየም ፍለጋ ጥናቶች ሲያካሂድ ቆይቷል፡፡ የኢትዮጵያ ጨረር መከላከያ ባለሥልጣንም በተጠቀሰው አካባቢ ባካሄደው ጥናት የዩራኒየም ጨረር መኖሩን አረጋግጧል፡፡ የዩራኒየም ፍንጭ በታየበት በባሌ ዞን የፍለጋ ፈቃድ እንዲሰጠው አንድ ኩባንያ ጥያቄ አቅርቧል፡፡

በቃለየሱስ በቀለ

The Rev Paul Whicker

April 19th, 2011, 08:06 PM

የዩራኒየም ፍለጋ በኢትዮጵያ
የኢትዮጵያ መልክዓምድር ባለሥልጣን የዩራኒየም ማዕድን ፍንጭ በታየባቸው በባሌና በቦረና አካባቢዎች የሚያካሂደውን የፍለጋ ጥናት የሩሲያ መንግሥት በመደገፍ ላይ እንደሆነ ተገለጸ፡፡
የኢትዮጵያ መልክዓምድር ጥናት ዋና ጠበብት አቶ ሁንዴ መልካ እንደገለጹት፣ የሩሲያ መልክዓምድር ጥናት ባለሥልጣን መሥሪያ ቤታቸው የሚያካሂደውን ዩራኒየም ፍለጋ ጥናት መላዊ ድጋፍ በማድረግ ላይ ይገኛል፡፡ የሩሲያው መልክዓምድር ድርጅት፣ አንድ ሩሲያዊ ባለሙያና የዩራኒየም መመርመሪያ መሣሪያ አቅርቧል ያሉት አቶ ሁንዴ፣ ባለሙያው በመስክና በቢሮ የተለያዩ ሥራዎች በማካሄድ ላይ ይገኛሉ ብለዋል፡፡
የዩራኒየም ፍለጋ በኢትዮጵያ
የኢትዮጵያ መልክዓምድር ባለሥልጣን የዩራኒየም ማዕድን ፍንጭ በታየባቸው በባሌና በቦረና አካባቢዎች የሚያካሂደውን የፍለጋ ጥናት የሩሲያ መንግሥት በመደገፍ ላይ እንደሆነ ተገለጸ፡፡
የኢትዮጵያ መልክዓምድር ጥናት ዋና ጠበብት አቶ ሁንዴ መልካ እንደገለጹት፣ የሩሲያ መልክዓምድር ጥናት ባለሥልጣን መሥሪያ ቤታቸው የሚያካሂደውን ዩራኒየም ፍለጋ ጥናት መላዊ ድጋፍ በማድረግ ላይ ይገኛል፡፡ የሩሲያው መልክዓምድር ድርጅት፣ አንድ ሩሲያዊ ባለሙያና የዩራኒየም መመርመሪያ መሣሪያ አቅርቧል ያሉት አቶ ሁንዴ፣ ባለሙያው በመስክና በቢሮ የተለያዩ ሥራዎች በማካሄድ ላይ ይገኛሉ ብለዋል፡፡

ሩሲያዊው ባለሙያ ከኢትዮጵያ መልክዓምድር ጥናት ባለሙያዎች ጋር በመሆን መረጃዎችን በዘመናዊ መንገድ በመሰብሰብ ላይ መሆናቸው ታውቋል፡፡ ከባሌና ከቦረና አካባቢዎች የሚሰበሰቡ ናሙናዎች በቤተ ሙከራ እንደሚመረመሩ የገለጹት አቶ ሁንዴ፣ በቀጣይ ምን ይደረጋል የሚለው የጥናቱ ውጤት ታይቶ የሚወሰን ይሆናል ብለዋል፡፡

‹‹በአሁኑ ወቅት ይህን አግኝተናል ብለን መናገር አንችልም፡፡ ጥናቱ በመካሄድ ላይ ነው፡፡ ጥናቱ ሲጠናቀቅ በቀጣይ ምን ማድረግ ይቻላል የሚለውን እናያለን፡፡ አሁን ግን ይህ ተገኝቷል ማለት አይቻልም፤›› ብለዋል፡፡

በማዕድን ሚኒስቴር የማዕድን ሥራዎች መምሪያ ኃላፊ አቶ ገብረ እግዚአብሔር መኮንን ለሪፖርተር እንደገለጹት፣ ሩሲያዊያኑ የመጡት ማዕድኑን ለማልማት ሳይሆን መላዊ እገዛ ለማድረግ ነው፡፡ ሩሲያዊው የመልክዓምድር ጠበብት ለኢትዮጵያዊያን ባለሙያዎች ሥልጠና በመስጠት ላይ እንደሆኑ ለማወቅ ተችሏል፡፡

ከስድስት ዓመት በፊት የዩራኒየም ፍንጭ በባሌ ዞን በሰብስቤ ዋሻ አካባቢ ተገኝቷል፡፡ ማዕድኑ ሊገኝ የቻለው በአካባቢው የከበሩ ድንጋዮች በመፈለግ ላይ በነበሩ አንድ ኢትዮጵያ ባለሀብት በደረሰ ጥቆማ አማካይነት ነበር፡፡ ለባለሀብቱ ጥቆማውን የሰጡት ከዩራኒየሙ በሚወጣ ጨረር ጉዳት የደረሰባቸው የአካባቢው አርሶ አደሮች ናቸው፡፡ አርሶ አደሮቹ በጨረሩ የሚደርስባቸውን ሕመም ‹‹መጋኛ›› ነው ሲሉ ይገልጹታል፡፡

ባለሀብቱ ከአካባቢው ሰብስበው ያመጧቸው ድንጋዮች ዩራኒየም ያዘሉ እንደሆኑ በማዕድን ሚኒስቴር የከርሰምድር ንጥር ቤተጥናት ተረጋግጧል፡፡ በተጨማሪም የተወሰነ ናሙና ወደ ካናዳ ተልኮ በከርሰምድር ንጥር ቤተጥናት ምርመራ ናሙናው ዩራኒየም እንደሆነ ተረጋግጧል፡፡ ከዚያን ወቅት ጀምሮ የኢትዮጵያ መልክዓምድር ጥናት ባለሥልጣን በባሌና በቦረና አካባቢዎች የተለያዩ የዩራኒየም ፍለጋ ጥናቶች ሲያካሂድ ቆይቷል፡፡ የኢትዮጵያ ጨረር መከላከያ ባለሥልጣንም በተጠቀሰው አካባቢ ባካሄደው ጥናት የዩራኒየም ጨረር መኖሩን አረጋግጧል፡፡ የዩራኒየም ፍንጭ በታየበት በባሌ ዞን የፍለጋ ፈቃድ እንዲሰጠው አንድ ኩባንያ ጥያቄ አቅርቧል፡፡

በቃለየሱስ በቀለ
የዩራኒየም ፍለጋ በኢትዮጵያ
የኢትዮጵያ መልክዓምድር ባለሥልጣን የዩራኒየም ማዕድን ፍንጭ በታየባቸው በባሌና በቦረና አካባቢዎች የሚያካሂደውን የፍለጋ ጥናት የሩሲያ መንግሥት በመደገፍ ላይ እንደሆነ ተገለጸ፡፡
የኢትዮጵያ መልክዓምድር ጥናት ዋና ጠበብት አቶ ሁንዴ መልካ እንደገለጹት፣ የሩሲያ መልክዓምድር ጥናት ባለሥልጣን መሥሪያ ቤታቸው የሚያካሂደውን ዩራኒየም ፍለጋ ጥናት መላዊ ድጋፍ በማድረግ ላይ ይገኛል፡፡ የሩሲያው መልክዓምድር ድርጅት፣ አንድ ሩሲያዊ ባለሙያና የዩራኒየም መመርመሪያ መሣሪያ አቅርቧል ያሉት አቶ ሁንዴ፣ ባለሙያው በመስክና በቢሮ የተለያዩ ሥራዎች በማካሄድ ላይ ይገኛሉ ብለዋል፡፡

ሩሲያዊው ባለሙያ ከኢትዮጵያ መልክዓምድር ጥናት ባለሙያዎች ጋር በመሆን መረጃዎችን በዘመናዊ መንገድ በመሰብሰብ ላይ መሆናቸው ታውቋል፡፡ ከባሌና ከቦረና አካባቢዎች የሚሰበሰቡ ናሙናዎች በቤተ ሙከራ እንደሚመረመሩ የገለጹት አቶ ሁንዴ፣ በቀጣይ ምን ይደረጋል የሚለው የጥናቱ ውጤት ታይቶ የሚወሰን ይሆናል ብለዋል፡፡

‹‹በአሁኑ ወቅት ይህን አግኝተናል ብለን መናገር አንችልም፡፡ ጥናቱ በመካሄድ ላይ ነው፡፡ ጥናቱ ሲጠናቀቅ በቀጣይ ምን ማድረግ ይቻላል የሚለውን እናያለን፡፡ አሁን ግን ይህ ተገኝቷል ማለት አይቻልም፤›› ብለዋል፡፡

በማዕድን ሚኒስቴር የማዕድን ሥራዎች መምሪያ ኃላፊ አቶ ገብረ እግዚአብሔር መኮንን ለሪፖርተር እንደገለጹት፣ ሩሲያዊያኑ የመጡት ማዕድኑን ለማልማት ሳይሆን መላዊ እገዛ ለማድረግ ነው፡፡ ሩሲያዊው የመልክዓምድር ጠበብት ለኢትዮጵያዊያን ባለሙያዎች ሥልጠና በመስጠት ላይ እንደሆኑ ለማወቅ ተችሏል፡፡

ከስድስት ዓመት በፊት የዩራኒየም ፍንጭ በባሌ ዞን በሰብስቤ ዋሻ አካባቢ ተገኝቷል፡፡ ማዕድኑ ሊገኝ የቻለው በአካባቢው የከበሩ ድንጋዮች በመፈለግ ላይ በነበሩ አንድ ኢትዮጵያ ባለሀብት በደረሰ ጥቆማ አማካይነት ነበር፡፡ ለባለሀብቱ ጥቆማውን የሰጡት ከዩራኒየሙ በሚወጣ ጨረር ጉዳት የደረሰባቸው የአካባቢው አርሶ አደሮች ናቸው፡፡ አርሶ አደሮቹ በጨረሩ የሚደርስባቸውን ሕመም ‹‹መጋኛ›› ነው ሲሉ ይገልጹታል፡፡

ባለሀብቱ ከአካባቢው ሰብስበው ያመጧቸው ድንጋዮች ዩራኒየም ያዘሉ እንደሆኑ በማዕድን ሚኒስቴር የከርሰምድር ንጥር ቤተጥናት ተረጋግጧል፡፡ በተጨማሪም የተወሰነ ናሙና ወደ ካናዳ ተልኮ በከርሰምድር ንጥር ቤተጥናት ምርመራ ናሙናው ዩራኒየም እንደሆነ ተረጋግጧል፡፡ ከዚያን ወቅት ጀምሮ የኢትዮጵያ መልክዓምድር ጥናት ባለሥልጣን በባሌና በቦረና አካባቢዎች የተለያዩ የዩራኒየም ፍለጋ ጥናቶች ሲያካሂድ ቆይቷል፡፡ የኢትዮጵያ ጨረር መከላከያ ባለሥልጣንም በተጠቀሰው አካባቢ ባካሄደው ጥናት የዩራኒየም ጨረር መኖሩን አረጋግጧል፡፡ የዩራኒየም ፍንጭ በታየበት በባሌ ዞን የፍለጋ ፈቃድ እንዲሰጠው አንድ ኩባንያ ጥያቄ አቅርቧል፡፡

በቃለየሱስ በቀለ

ሩሲያዊው ባለሙያ ከኢትዮጵያ መልክዓምድር ጥናት ባለሙያዎች ጋር በመሆን መረጃዎችን በዘመናዊ መንገድ በመሰብሰብ ላይ መሆናቸው ታውቋል፡፡ ከባሌና ከቦረና አካባቢዎች የሚሰበሰቡ ናሙናዎች በቤተ ሙከራ እንደሚመረመሩ የገለጹት አቶ ሁንዴ፣ በቀጣይ ምን ይደረጋል የሚለው የጥናቱ ውጤት ታይቶ የሚወሰን ይሆናል ብለዋል፡፡

‹‹በአሁኑ ወቅት ይህን አግኝተናል ብለን መናገር አንችልም፡፡ ጥናቱ በመካሄድ ላይ ነው፡፡ ጥናቱ ሲጠናቀቅ በቀጣይ ምን ማድረግ ይቻላል የሚለውን እናያለን፡፡ አሁን ግን ይህ ተገኝቷል ማለት አይቻልም፤›› ብለዋል፡፡

በማዕድን ሚኒስቴር የማዕድን ሥራዎች መምሪያ ኃላፊ አቶ ገብረ እግዚአብሔር መኮንን ለሪፖርተር እንደገለጹት፣ ሩሲያዊያኑ የመጡት ማዕድኑን ለማልማት ሳይሆን መላዊ እገዛ ለማድረግ ነው፡፡ ሩሲያዊው የመልክዓምድር ጠበብት ለኢትዮጵያዊያን ባለሙያዎች ሥልጠና በመስጠት ላይ እንደሆኑ ለማወቅ ተችሏል፡፡

ከስድስት ዓመት በፊት የዩራኒየም ፍንጭ በባሌ ዞን በሰብስቤ ዋሻ አካባቢ ተገኝቷል፡፡ ማዕድኑ ሊገኝ የቻለው በአካባቢው የከበሩ ድንጋዮች በመፈለግ ላይ በነበሩ አንድ ኢትዮጵያ ባለሀብት በደረሰ ጥቆማ አማካይነት ነበር፡፡ ለባለሀብቱ ጥቆማውን የሰጡት ከዩራኒየሙ በሚወጣ ጨረር ጉዳት የደረሰባቸው የአካባቢው አርሶ አደሮች ናቸው፡፡ አርሶ አደሮቹ በጨረሩ የሚደርስባቸውን ሕመም ‹‹መጋኛ›› ነው ሲሉ ይገልጹታል፡፡

ባለሀብቱ ከአካባቢው ሰብስበው ያመጧቸው ድንጋዮች ዩራኒየም ያዘሉ እንደሆኑ በማዕድን ሚኒስቴር የከርሰም ድር ንጥር ቤተጥናት ተረጋግጧል፡፡ በተጨማሪም የተወሰነ ናሙና ወደ ካናዳ ተልኮ በከርሰምድር ንጥር ቤተጥና ት ምርመራ ናሙናው ዩራኒየም እንደሆነ ተረጋግጧል፡ ፡ ከዚያን ወቅት ጀምሮ የኢትዮጵያ መልክዓምድር ጥናት ባለሥልጣን በባሌና በቦ ካባቢዎች የተ ለያዩ የዩራኒየም ፍለጋ ጥናቶች ሲያካሂድ ቆይቷል፡፡ የኢትዮጵያ ጨረር መከላከያ ባለሥልጣንም በተጠቀሰው አካባቢ ባካሄደው ጥናት የዩራኒየም ጨረር መኖሩን አረጋግጧል፡፡ የዩራኒየም ፍንጭ በታየበት በባሌ ዞን የፍለጋ ፈቃድ እንዲሰጠው አንድ ኩባንያ ጥያቄ አቅርቧል፡፡

በቃለየሱስ በቀለ

The Vicar

Jan

April 21st, 2011, 02:19 PM

test

Hersh

April 21st, 2011, 02:52 PM

negative

Arinze

April 21st, 2011, 06:52 PM

:lol:

abnet

April 26th, 2011, 04:42 PM

Rev that is the same news but badly arranged post like what lamrof above you posted.:lol:

abnet

April 26th, 2011, 04:53 PM

The ethiopian potash company to start drilling in may.:cheers:

April 26, 2011 08:00 ET
Ethiopian Potash Approaches Commencement of Drilling Alongside Camp Completion

TORONTO, ONTARIO--(Marketwire - April 26, 2011) - Ethiopian Potash Corp. (the "Company" or "EPC") (TSX VENTURE:FED)(TSX VENTURE:FED.WT) is pleased to announce that field camp construction is proceeding well and the camp is being readied to receive the drill crews by the end of the month, in anticipation of commencing the 15,000 meter drill program in early May.

Overall, the construction of the field camp is on budget and nearing completion. The waste and fresh water systems are being installed and the large capacity desalinization plan has arrived on site and will be up and running shortly. The cell phone tower is being erected and will enable the Danakil to hook into the national cell phone tower grid.

Convoys of equipment including the drills are starting to leave Mek'ele en route to the Property, and are expected to be on site in the first week of May.

Mr. Wahl, President and CEO of the Company stated "... I am very pleased with the progress and rate of camp construction, and commend the job that our team has done on the ground. We anticipate the drills being on site in the first week of May and are looking forward to the commencement of drilling, initially targeting the South-west corner of the property which currently hosts an inferred resource of 128 mil tonnes grading 21%."

About Ethiopian Potash Corp.

Ethiopian Potash Corp. (TSX VENTURE:FED)(TSX VENTURE:FED.WT) is a Canadian company based in Toronto, Ontario, and Addis Ababa, Ethiopia. Ethiopian Potash controls 481 sq km of shallow mineralisation potash development concessions in the fairway of the Danakil Depression, Ethiopia. The Company has an existing 128 mil tonne resource at 21% potash and is intent on aggressively fast-tracking its properties to production.

On behalf of the Board of Directors

David Wahl, President and CEO

© 2011 Marketwire, Incorporated. All rights reserved.

abnet

April 28th, 2011, 06:02 PM

Allana potash discovers more potash deposit in dalol.

Canada's Allana Potash discovers significant potash deposit in Ethiopia

nazret.com - Toronto based Allana Potash Corp. said it has discovered a significant potash deposit in a previously unexplored area in Ethiopia. In a statement posted on the company's website, Farhad Abasov, President and CEO of Allana, commented: "We are very pleased with the identification of new potash mineralization in the southwestern part of the property. This region was previously unexplored with no previous drilling. Management intends to incorporate data from Hole 16 in the Company's new National Instrument 43-101 technical report, expected to be issued on or about the end of May, 2011."

Allana is a publicly traded corporation listed on the Toronto Venture Exchange, with a focus on the acquisition and development of potash assets internationally and a strong presence in Ethiopia. The company's stock (AAA) was up 6.11% and closed at $1.91 on Toronto Venture Exchange after the news.

Ethiopia has abundant potash deposit mainly in the northeastern Danakil Depression region. Most of the world's potash is used to make fertilizer. Major producers of potash include Canada and Russia.

Allana's CEO Farhad Abasov recently spoke to Business News Network about the project in Ethiopia. You can watch the video here.http://watch.bnn.ca/commodities/february-2011/commodities-february-10-2011/#clip415782

Yoniii

April 28th, 2011, 08:22 PM

Go troll somewhere else.

abnet

May 7th, 2011, 03:48 AM

Stratex finds bonanza gold grades during sampling in blackrock licence, afar region-ethiopia.:cheers:

Stratex finds bonanza gold grades during sampling in Blackrock licence, Ethiopia
Wednesday, 04 May 2011

Addis Ababa, May 4 (WIC) - Stratex International PLC (LON:STI) said it has discovered bonanza gold grades during rock sampling at the Black Water zone within its 100 percent owned Blackrock Exclusive Exploration Licence (Blackrock EEL) in the prospective Afar epithermal gold province of eastern Ethiopia.

Surface rock-chip samples returned up to 60.4 grammes per tonne gold from the Nesbitt target and 34.6 g/t Au from the Oasis vein systems at the Blackrock EEL.

Channel-chip sampling of Theodore target returned best grades of 25 metres at 1.15 g/t Au and 15.2 metres at 1.28 g/t Au, while best values returned at Nesbitt were 6.1 metres grading 1.01 g/t Au and 0.5 metres at 38.3 g/t Au.

The work has identified wide zones of gold on the Theodore, Nesbitt and Oasis vein systems over 4.57 kilometres combined strike within the previously discovered 14 kilometres of outcropping veins over the Black Water and Magdala zones of the Blackrock EEL.

Executive director David Hall said, "These first samples of outcrop at the Black Water zone have returned bonanza grades, i.e. greater than 30 grams per tonne gold, and wide zones of gold mineralisation up to 25 metres in width, further highlighting the potential for major multiple gold mineralisation at this exciting discovery where four key zones have been identified to date.”

"With this in mind, our exploration programme at Blackrock will continue at pace as we focus on advancing the Stanley, Nesbitt, Oasis, Theodore and Baker targets to a drill ready status. We also eagerly await the results from a 3,000 metre drill programme at our Megenta gold project in Ethiopia, where we believe there is a potential to intersect, at depth, similar multi-gram gold grades."

It is anticipated that the Blackrock prospects can be fast-tracked through to drill-ready status before the end of the year. The regional infrastructure is being rapidly upgraded by mining majors such as BHP Billiton which are conducting significant potash programmes. In line with this, major camps, new roads and associated infrastructure are currently being established.

In the meantime, drilling of the company's first project in the Afar, Megenta, will commence shortly, funded by the joint-venture partnership with Thani Ashanti, an AngloGold Ashanti alliance.

(Source: Proactiveinvestors.co.uk)
Last Updated ( Wednesday, 04 May 2011 )

abnet

May 8th, 2011, 07:43 PM

Investors with over 759 mln birr(45 mln us dollar :D) capital licensed to engage in mineral exploration and development.

Investors with over 759 mln birr capital licensed to engage in mineral exploration, development
Wednesday, 04 May 2011

Addis Ababa, May 4 (WIC) – The Ministry of Mines (MoM) said that some 39 investors with over 759.3 million birr combined capital were licensed to engage in the exploration, development and production of mineral during the past nine months.

Ministry Public Relations and Communication Department Head, Bacha Faji, told WIC that 37 of the licenses were issued to those investors who wanted to engage in exploration and development of minerals, while the balance were given to investors interested to embark on mineral production.

“As a result of increase in gold price at the global market, majority of the investors were licensed to engage in the exploration of gold and gemstone,” Bacha said.

The number of investors licensed during the past nine months exceeded that of same period last year by 13, he said, attributing the increase to the efficient services given by the ministry and regional offices.

According to Bacha, most of the investors came from Britain, China, India, Sudan and Canada, among others. The ministry plans to offer 50 licenses this budget year.

Currently, the ministry administers 95 companies that have 191 mineral exploration, development and production licenses, he said. More than 75.8 million birr was secured from various consultancy and other services given to them in the reported period.

Moreover, there are over 10 companies engaged in the exploration and development of petroleum, he said. An agreement was also reached to offer license to an American based company to engage in the exploration of petroleum.

More than 1.8 million USD was secured during the past nine months alone from consultancy, royalty, license and other services offered to companies engaged in petroleum exploration, he added.

The Ministry of Mine is endeavoring to efficiently exploit nation’s huge potential mine resources that exist across the country, Bacha noted.
Last Updated ( Wednesday, 04 May 2011 )

abnet

May 19th, 2011, 02:24 AM

Nyota applies for gold mining license in Ethiopia.

Nyota applies for gold mining licence in Ethiopia
Friday, 13 May 2011

Addis Ababa, May 13 (WIC) – Nyota Minerals said on Friday that it has applied for a large-scale mining license with the government of Ethiopia for its flagship Tulu Kapi gold project.

This follows the preliminary economic assessment, in March, which indicated an independent mineral resource estimate of 707 000 oz of gold, resulting in increased levels of confidence in Tulu Kapi’s orebody, located in western Ethiopia.

“The application for a mining license is the culmination of several months' work encompassing a broad range of disciplines in relation to the project, including technical, financial, environmental and social disciplines,” the company said.

The project was projected at a provisional capital cost of $199,8-million and operating costs of $14,50/t for openpit mining and processing, and $35,83/t for underground mining and processing. (Miningweekly.com)
Last Updated ( Friday, 13 May 2011 )

abnet

May 26th, 2011, 02:03 AM

Platinum exports earn unplanned $10,965.:cheers:

Last Updated 05/23/2011

Web www.addisfortune.com

Platinum Exports Earn Country Unplanned $10,965

MoM sells 4.1 billion Br(243 mln dollars) of gold in 10 months, more than 4,606kg planned for year

The Ministry of Mines (MoM) earned 10,965 dollars from the export of 640 grams of platinum over the past 10 months, the extraction of which was unplanned.

“There is no one engaged in formal platinum extraction in Ethiopia,” Tamrat Mojo, head of traditional mines manufacturing and transactions at MoM, told Fortune. “As a result, we did not expect to export any.”

The platinum was obtained from individuals who used traditional mining methods to extract the metal.

“The platinum was not extracted with modern mining techniques,” Tamrat said. “As a result, it was not washed as well as it would be with machines, causing it to fetch a lower price than it otherwise might have.”

Yubdo Gold & Platinum (Yubdo Platinum), a United Kingdom (UK) based company, was the sole platinum miner in Ethiopia. The small-scale operation annually produced an average of 2.8kg from western Ethiopia at a site located 460km from the capital in Oromia Regional State.

“The company exported only 12kg of platinum during three years of operation, so it pulled out,” Tamrat explained.

This left the site, from which individuals have been obtaining the platinum, open. However, the area has since been cordoned off, pending an investigation by the ministry into how best to extract it.

“If it is found that traditional methods can be used to extract the platinum, we will establish mining associations,” Tamrat said. “Otherwise, the ministry plans to use mechanised mining methods to extract it.”

While there are no associations extracting platinum, there are more than150 engaged in mining gold.

The ministry has sold 5,815kg of gold worth of 4.1 billion Br(243 mln dollars) to National Bank of Ethiopia (NBE) over the past 10 months, more than the 3,616kg it initially planned to sell for the year.

With 2,045kg, 1,517kg, and 1,127kg, Oromia, Tigray, and Benishangul-Gumuz regional states were the top gold producers, respec over the past 10 months. Gold is also mined in Gambella, Southern, and Amhara regional states.

During the first six months of the fiscal year, MoM sold 3,942.2kg of gold to NBE, while it had planned to sell 2,703.3kg. As a result, it revised its annual plan in March 2011 to sell 4,606kg, an increase of 990kg that has already been achieved.:applause:

“The performance of the ministry was positively affected by the rise in the international price of gold, which encouraged people to engage in gold extraction,” Tamrat told Fortune.

The global average price of an ounce of gold was 1,478.30 dollars in 2010 while it stood at 1,510.90 dollars on Friday, May 20, 2011.

The rise in the international price is attributed by an economic expert to investors putting their money in assets other than the dollar.

Gold is Ethiopia’s third largest export commodity after coffee and oil seeds.

A total of 281 million dollars worth of gold was exported to Switzerland and South Africa, the only importers of Ethiopia’s gold, in 2009/10, according to research conducted by Access Capital. Out of the total, Switzerland imported 211.2 million dollars, the research showed.

The purchase of gold by Swiss banks in line with a worldwide pattern in gold trade between commercial or central banks that has contributed to the increase in gold exports, according to the expert.

The government plans to increase its gold exports from 3,907kg in 2009/10 to 8,700kg in five years’ time, an increment of 122pc.

For the past two years, NBE has been adding five per cent to the international market price when buying gold from miners in order to discourage its sale on the black market, according to Tamrat.

An independent unit responsible for gold transactions was also established in September 2010.

MoM used to perform geological tests on the metal produced for sale by miners to determine its authenticity. However, following the scandal in 2008 when the central bank bought alleged fake gold for 158 million Br, the bank started conducting the tests itself.

This decreased fraud and contributed to the ministry’s increased performance, according to Tamrat.

The hearing of a group of individuals charged by the Federal Ethics and Anti-corruption Commission (FEAC) for the sale is being heard by the Federal High Court, First Criminal Bench. Among the accused are four brothers: Kaf Mohammed, owner of Sofam Fashion; Sultan Mohammed, owner of Day & Night Multichoice Boutique; Fuad Mohammed, owner of WOW Fashion; and Nuredin Mohammed, owner of Nur Building.

Aside from gold, the ministry also exported precious stones and tantalum that, along with the platinum, amounted to two billion Birr over the past 10 months. It had initially aimed to export 7,315kg of precious stones and 105tn of tantalum this year.

During the first six months, it exported precious stones and tantalum worth 171.7 million dollars. While MoM had planned on 3,104kg and 43tn, it exported 6312.4kg and 85.6tn of precious stones and tantalum, respectively.

All the minerals were extracted using traditional mining methods. Like platinum, tantalum is extracted only in Oromia Regional State, while precious stones is mined in Amhara, Oromia, and Somali regional states.

By MAHLET MESFIN
FORTUNE STAFF WRITER

Simfan34

May 26th, 2011, 02:17 AM

$10,965? Unless that's missing some zeroes, that's pennies.

abnet

May 26th, 2011, 07:29 PM

$10,965? Unless that's missing some zeroes, that's pennies.
Well they didn't expect to earn anything so something is better than anything i guess.
By the way you and yonii are tie on posting:)

Simfan34

May 27th, 2011, 12:32 AM

^^Well, I supoose that's our cue to start platinum mining

SUNS 25

May 27th, 2011, 01:24 AM

Salut mes amis Ethiopiens, je suis du Gabon, et je pense que votre pays a de fortes potentialités, il faut seulement de la volonté politique.

AM2

May 27th, 2011, 04:43 AM

Salut mes amis Ethiopiens, je suis du Gabon, et je pense que votre pays a de fortes potentialités, il faut seulement de la volonté politique.
Bonjour l'ami gabonais, bienvenu dans la section ethiopienne. Je dois te dire qu'il y a pas beaucoup d'ethiopiens qui parlent francais. Parles tu anglais?

AM2

May 27th, 2011, 04:45 AM

$10,965? Unless that's missing some zeroes, that's pennies.
They gots to be joking ... 11k?? Why announce it ... i'd keep quiet.

Simfan34

May 27th, 2011, 01:14 PM

They gots to be joking ... 11k?? Why announce it ... i'd keep quiet.

Apparently we weren't supposed to export any platinum, and so it basically showed up on its own.

And it was 640g... less than one kg!

abnet

May 27th, 2011, 09:03 PM

Allana potash gets a boost as India invests(promise??) in Ethiopian railway.

Allana Potash gets a boost as India invests in Ethiopian railway

David Stobbe/Reuters
http://financialpostbusiness.files.wordpress.com/2011/04/0420potash.jpg?w=620
Potash awaiting transport to the surface of a mine.

Eric Lam May 27, 2011 – 9:31 AM ET

Allana Potash Corp.‘s Dallol potash project in Ethiopia got a major boost this week after India committed US$300-million towards an Ethiopia-Djibouti railway line expansion, a move that may be part of the rapidly growing country’s strategy in negotiations with Canadian potash suppliers.

Richard Kelertas, analyst with Dundee Capital Markets, said in a note the railway, expected to be complete in five years, will give Allana access to the port at Djibouti for export of its future potash production.

“Allana will be able to use the transportation network to rail its potash from Addis Ababa, the capital of Ethiopia,” he said.

The Ethiopian government has also committed to building road infrastructure leading to the Dallol property.

Of course, this news comes as India and potash producers continue to negotiate a new potash supply contract, after failing to come to terms at the International Fertilizer Association’s annual conference in Montreal this week.

Indian negotiators led by U.S. Awasthi, managing director of the Indian Farmers Fertilizer Cooperative Ltd., demand a discount on current spot prices and claim Indian farmers can skip a year of potash applications if need be.

Meanwhile major potash players such as Potash Corp. of Saskatchewan are wary of giving India too much of a break as other countries will likely demand similar treatment.

“We view these comments as more of a scare tactic than anything else and believe a deal between the producers and India will be tabled within the next couple of months,” Mr. Kelertas said.

Of note is that Mr. Awasthi highlighted Ethiopia specifically as a greenfield site for future production.

“In our view, India definitely has no loyalty to Canpotex whatsoever and could seek to secure potash supply independent of the big marketing conglomerates,” he said.

India needs more than 7 million tonnes of potash, but many of these projects other than Ethiopia are a long way off from production, he said.

Mr. Kelertas maintains a buy rating with price target of $2.50

Tarrex

May 28th, 2011, 11:30 AM

Tullow Oil commences work on oil exploration project in Ethiopia

- Ministry pushes petroleum companies to expedite work

A British oil company has embarked on an oil exploration project in South Omo Valley, in southern part of Ethiopia.

The Vancouver-based company, Africa Oil, acquired the south Omo Valley concession from White Nile, the British oil company. White Nile is a UK-based company in which the South Sudan government has a minority stake. White Nile, which has been prospecting for oil in South Omo Valley since 2005, farmed out the concession to Africa Oil.

Tullow has recently discovered a huge oil reserve in the Albert basin in Uganda.

The Canadian company, Africa Oil, last year sold a 50 percent stake in its inteterst in the South Omo Valley. Dr. Ketsela Tadesse, mining licensing and administration core process owner with the Ministry of Mines, told The Reporter that Tullow, in partnership with Africa Oil, have recently launched conducting magnetic and gravity survey in the South Omo Valley concession. Ketsela said the two companies were working together.

Calvally and Falcon Petroleum have concessions in north-west Ethiopia. Calvally, a Dubai-based company, is collecting and analysing data around Humera. Falcon Petroleum, a UK-based company, is collecting data around Woreillu area. Falcon has sold a stake in its concession near the Abay gorge and Woreyillu localities to another British company, Victoria Oil. “These companies (Falcon and Victoria) usually work together,” Dr.Ketsela said.

Some of the oil companies are not doing the work according to schedule. The ministry is pushing these companies to expedite work on the oil exploration projects.

They are searching for oil in every region nowadays, this must be the first oil-related article that not mentions ogaden.

Yoniii

May 28th, 2011, 12:50 PM

They are searching for oil in every region nowadays, this must be the first oil-related article that not mentions ogaden.
I was thinking same thing.

yosef

May 28th, 2011, 03:42 PM

Ahadu

May 29th, 2011, 11:09 AM

rasta55

May 29th, 2011, 12:40 PM

^^
this map probably needs to be updated... Uganda now has oil reserves estimated at 6,000M barrels... about as much as Sudan (85% of which is in South Sudan)

teklu

May 29th, 2011, 05:13 PM

I have heard about the natural gas discoveries (I think some of them were from the 60's even), but I am starting to doubt if we have any oil.
Does anyone else feel this way? The exploritory wells that Petronos dug in Gambella and one in Ogden have turned out dry...

I dont know, but I am not to confident there is much to be found. What do you guys think?

Ogden oil well dry: http://nazret.com/blog/index.php/2010/01/30/exploration_well_turns_out_dry_in_ethiop
Gambella: http://nazret.com/blog/index.php/2007/05/14/ethiopia_second_exploration_well_in_gamb

Oil exploration is a very long process BTW. It takes at least 10 intensive years to get to production, that has never been the case in Ethiopia. I don't think there has been dug more than 50 exploration well till today. Saudi discovered the first oil after I guess 150 empty well. The only significant exploration has resulted in a significant natural gas and some oil deposit but due to stability problem the exploration was limited. The only indicator to say something about the possible oil reserve in Ethiopia is the the existence of sedimentary rock formation which is similar to those were oil has been discovered before, for example the Ogden basin resembles that of Saudi formation; Gamblae basin resembles that of Sudan and the Omo basin resembles that of Uganda. Based on this there is a high probability of striking a significant oil reserve in Ethiopia but I think it is too late to say either.

possible oil discovery sites

http://www.mome.gov.et/image/petroleum/Ethiopia.jpg

But for the hope of stability and peace I pray Ethiopia not to discovery any until our neighbors become at least stable:):):).

here are some interesting point about oil and gas in Ethiopia

The is an area of Ogadenia that may hold significant reserves of crude oil and natural gas.[1] The basin covers an area of some 350,000 square kilometres (135,000 square miles) and is formed from sedimentary rocks up to 10,000 meters (6 miles) thick.[2] It has geological similarities to other hydrocarbon-rich basins in the Middle East.[3]

There are two gas/condensate field discoveries in the Ogaden, namely Calub and Hilala. The Calub gas condensate reserve is estimated at 2.7 TCF and that of Hilala is about 1.3 TCF.

i guess these much is assumed to be world class

Abay Basin (63,000 km2)

Mesozoic Basin with sedimentary sequence comparable to that of the Ogaden. Upper Jurassic Antalo Limestone which is equivalent to Uarandab Formation in the Ogaden Basin is a potential source rock. A geochemical analysis of an oil seep sample from the northeastern end of the Basin (at Woreilu locality) indicated the presence of mature marine source rock. The Adigrat Sandstone, Amba Aradom Formation (Upper Sandstone) and some beds of the Antalo Limestone are considered potential reservoirs.

is another potential oil field

Gambela Basin

This Basin, with an area of 17,500 sq. km, lies at the southeast extension of the White Nile Rift of the Sudan which contains the petroliferous Melut Basin. Upper Mesozoic to Palaeocene sediments reaching up to 5000m in thickness are expected to exist in fault-bounded grabens. Lacustrine shales and associated fluviatile sands are considered potential source and reservoir rocks in the Basin, respectively. Currently the Malaysian company known as PETRONAS CARIGALI is undertaking exploration over the entire expanse of the Basin.

as per petrons website the pull out has nothing to do with the potential but the company decision to pull back from its international operation.

The Southern Rift Basins

The Omo and Chew Bahir Basins along with other small size grabens that lie within the East African Rift System make up the Southern Rift Basins. From forward gravity modelling it is shown that 3000 to 3500 m thick sediment is expected in the depocenters of the larger Basins. The possible continuation of the older Mesozoic rifts of the Anza Graben of Kenya and the Abu Gabra Rift of the Sudan is also suggested in some studies.

my wild guess goes to this basin, there will be oil discovery in 10 to 20 years in this basin take my word:lol::lol:

Mekele Basins

The Basin covers an area of 8,000 sq. km and the Mesozoic sedimentary succession in this Basin is over 2000 m thick. The Adigrat Sandstone (150-160 m) is the potential reservoir, although, the presence of potential source rock is yet to be established.

no idea about this basin

this map shows where the exploration and expected potential are

http://www.mome.gov.et/image/petroleum/petexp-1.JPG

most of the source are from the Ethiopia ministry of energy and mines

yosef

May 29th, 2011, 06:29 PM

Oil exploration is a very long process BTW. It takes at least 10 intensive years to get to production, that has never been the case in Ethiopia. I don't think there has been dug more than 50 exploration well till today. Saudi discovered the first oil after I guess 150 empty well. The only significant exploration has resulted in a significant natural gas and some oil deposit but due to stability problem the exploration was limited. The only indicator to say something about the possible oil reserve in Ethiopia is the the existence of sedimentary rock formation which is similar to those were oil has been discovered before, for example the Ogden basin resembles that of Saudi formation; Gamblae basin resembles that of Sudan and the Omo basin resembles that of Uganda. Based on this there is a high probability of striking a significant oil reserve in Ethiopia but I think it is too late to say either.

possible oil discovery sites

http://www.mome.gov.et/image/petroleum/Ethiopia.jpg

But for the hope of stability and peace I pray Ethiopia not to discovery any until our neighbors become at least stable:):):).

here are some interesting point about oil and gas in Ethiopia

The is an area of Ogadenia that may hold significant reserves of crude oil and natural gas.[1] The basin covers an area of some 350,000 square kilometres (135,000 square miles) and is formed from sedimentary rocks up to 10,000 meters (6 miles) thick.[2] It has geological similarities to other hydrocarbon-rich basins in the Middle East.[3]

There are two gas/condensate field discoveries in the Ogaden, namely Calub and Hilala. The Calub gas condensate reserve is estimated at 2.7 TCF and that of Hilala is about 1.3 TCF.

i guess these much is assumed to be world class

Abay Basin (63,000 km2)

Mesozoic Basin with sedimentary sequence comparable to that of the Ogaden. Upper Jurassic Antalo Limestone which is equivalent to Uarandab Formation in the Ogaden Basin is a potential source rock. A geochemical analysis of an oil seep sample from the northeastern end of the Basin (at Woreilu locality) indicated the presence of mature marine source rock. The Adigrat Sandstone, Amba Aradom Formation (Upper Sandstone) and some beds of the Antalo Limestone are considered potential reservoirs.

is another potential oil field

Gambela Basin

This Basin, with an area of 17,500 sq. km, lies at the southeast extension of the White Nile Rift of the Sudan which contains the petroliferous Melut Basin. Upper Mesozoic to Palaeocene sediments reaching up to 5000m in thickness are expected to exist in fault-bounded grabens. Lacustrine shales and associated fluviatile sands are considered potential source and reservoir rocks in the Basin, respectively. Currently the Malaysian company known as PETRONAS CARIGALI is undertaking exploration over the entire expanse of the Basin.

as per petrons website the pull out has nothing to do with the potential but the company decision to pull back from its international operation.

The Southern Rift Basins

The Omo and Chew Bahir Basins along with other small size grabens that lie within the East African Rift System make up the Southern Rift Basins. From forward gravity modelling it is shown that 3000 to 3500 m thick sediment is expected in the depocenters of the larger Basins. The possible continuation of the older Mesozoic rifts of the Anza Graben of Kenya and the Abu Gabra Rift of the Sudan is also suggested in some studies.

my wild guess goes to this basin, there will be oil discovery in 10 to 20 years in this basin take my word:lol::lol:

Mekele Basins

The Basin covers an area of 8,000 sq. km and the Mesozoic sedimentary succession in this Basin is over 2000 m thick. The Adigrat Sandstone (150-160 m) is the potential reservoir, although, the presence of potential source rock is yet to be established.

no idea about this basin

this map shows where the exploration and expected potential are

http://www.mome.gov.et/image/petroleum/petexp-1.JPG

most of the source are from the Ethiopia ministry of energy and mines

wow teklu, very nice presentation. I didnt know about alot of this stuff, I guess your right we just have to wait and see.

thanks.

yosef

May 29th, 2011, 06:36 PM

some news:

Ministry Putting up 200m Br Data Repository
Country storing electronic data abroad for large sums in foreign currency

The Ministry of Mines (MoM) is constructing a 200 million Br digital national data repository (NDR) on a 18,000sqm plot to store data collected by different international oil companies during exploration. The NDR is located on the compound of the ministry’s branch on Asmara Street.

Since the cost of exploration for petroleum is expensive for the government, oil companies conduct exploration on different sedimentary basins using risk capital. The government has signed protocol agreements with the companies and the data is collected from the companies after their exploration. The existing data, which was collected by different oil companies since 1934, is estimated to be worth 600 million dollars. It comprises magnetic tapes, rock samples, systemic data, and well logs taken from deep holes.

A tender for the construction of the building was floated twice; the second one earlier this year was awarded to Tekleberhan Ambaye Construction Plc for around 90 million Br, according to Mekonnen Negusie, senior economist of petroleum licensing at MoM. The construction must be finalised within seven months, according to the contract signed in March 2011, and construction has started.

A total of three international consultants participated in drawing up the architectural, structural, electrical, and mechanical designs of the building last year. These are Petroleum India International, Fugro Data Solutions and its local contractor Afri Consulting Architects & Engineers and RPS Energy Ltd.

Following the financial and technical evaluations, the contract was awarded to Fugro Data Solutions, a United Kingdom (UK) based company that was founded in the Netherlands in 1962. To date, the data has been stored haphazardly in offices with moderate air conditioning, according to Mekonnen. The present location where the database is stored does not have gas suppression to enable petroleum samples to be stored in the same building, he claimed.

Since the country does not have a standardised data management system, electronic system data is stored in foreign countries, which costs the country large sums in foreign currency. The NDR is expected to preserve the data by managing the identity, integrity, and quality of the archives. It would also secure data as the system has scanning facilities which would helps to retrieve the data if the building was damaged.

“Organised data and information of high quality attract investors in the sector as they would be interested in easily accessible information about previous explorations,” Mekonnen said. Many local and international companies have engaged in oil exploration, including Afar Exploration, Africa Oil, South West Energy Ltd, and Petronas Carigali.

continued here at Fortune (http://www.addisfortune.com/Vol_10_No_576_Archive/Ministry%20Putting%20up%20200m%20Br%20Data%20Repository.htm)

Simfan34

May 30th, 2011, 05:46 AM

I believe there are vast quantities of natural gas and oil waiting to be found. Just a hunch.

abnet

June 4th, 2011, 09:40 PM

Nice presentation teklu! love it :cheers: looks like the country has a lot of potential on mining . Now only if it gets enough investment on the sector.Last time i check there was a mere 50 million dollars investment on mining .If we get billions like the manufacturing and construction sector we could have discard poverty much faster.
Anyways on another news allana potash want to start production on 2014 :banana:

Allana wants first Ethiopian potash output in 2014

By: Matthew Hill
3rd June 2011

TORONTO (miningweekly.com) – Allana Potash, hoping to build a mine in Ethiopia, said this week it will decide whether to go ahead with the Dallol project by the middle of next year.

“We should be finished the 43-101 update in the next couple of weeks and, parallel to that, we’ll start moving into our bankable feasibility study which will last nine to 12 months,” said strategic projects senior VP Jack Scott.

After reaching a production decision, Allana could see its first output in two years, he added.

The International Finance Corp last month bought a $10-million stake in the company.

Scott told a conference in Toronto that the shallowness of the deposit made it potentially amenable to open-pit mine, as well as solution mining.

And the fact that the Dallol project lies in one of the hottest places on the planet – with average temperatures of around 40 degrees celcius – meant that Allana could save on power costs by evaporating the potash solution it hopes to mine.

Scott also pointed out that Ethiopia is close to India and China, two main markets for potash, which is used as a fertiliser.

Last month, the Indian government announced a multi-million dollar deal with its Ethiopian counterpart that would see it develop railway infrastructure in the East African country.

Asked to comment on Allana’s relationship with the Ethiopian government, Scott said it was positive: “The Ethiopian government has looked at us as someone who’s helping to promote the country.”

The company stock was trading 2% lower on Friday, at C$1.79 apiece, valuing Allana at C$263-million.

Edited by: Liezel Hill

teklu

June 5th, 2011, 08:39 PM

I totally agree with u, with this investment one can not imagine to mine anything let alone oil and gas. But still the government has to be very careful before leasing those potential and giving license to this big company. I was checking the accusation of exploration land by big mining companys, and they did leased a huge land for exploration including BHP, Bp and other giant but they did very little in actual exploration. They need to force them to do exploration as far as they leased it for exploration.

Nice presentation teklu! love it :cheers: looks like the country has a lot of potential on mining . Now only if it gets enough investment on the sector.Last time i check there was a mere 50 million dollars investment on mining .If we get billions like the manufacturing and construction sector we could have discard poverty much faster.
Anyways on another news allana potash want to start production on 2014 :banana:

Yoniii

June 7th, 2011, 08:28 AM

Sudan,Ethiopia Sign Cooperation Agreement in the Field of Mining

Khartoum, June 6 (SUNA) - The Ministry of Minerals signed a cooperation protocol with its Ethiopian Counterpart in Addis Ababa to cover joint cooperation in aspects of Mining and geological mappings at the borders between the two countries.

The agreement was signed by the Minister of Minerals Dr. Abdul Bagi Al-Gailani and his Ethiopian counterpart Ms. Sink Kash, at the conclusion of the Minister's visit to Ethiopia, which lasted for one week during which he visited three Ethiopian regions.

In this regard, the Minister of Minerals said in a statement to SUNA that the Sudanese delegation visited the sources of the River Nile at Tana Lake besides Tigray region, which includes the African Great Rift that contains many geological areas. Dr. Al-Gailani revealed that number of Ethiopian companies expressed their interest to work in domains of Mining along the Sudanese borders.

Meanwhile, the Ethiopian Minister of Minerals explained that the agreement would contribute in supporting the relations linking the two countries, revealing that it contains aspects of capability building and establishing joint technical teams and exchange of visits, training and rational management of minerals. She also revealed her intention to visit Sudan in order to activate the protocol and to get acquainted with mining resources in SudanSR/ MFBack
http://www.sunanews.net/english-latest-news/20002-sudanethiopia-sign-cooperation-agreement-in-the-field-of-mining-.html

Ahadu

June 10th, 2011, 10:31 PM

Must Watch...

YTdoCXWEbEk

abnet

June 17th, 2011, 04:24 AM

Chinese firm to pay $200 mln us dollars for calub gas concession.

Addisfortune.com

Last Updated 06/13/2011

Chinese Firm to Pay $200m for Calub Gas Concessions

Mines ministry reviews seven bids, denies signing contract with Hong Kong based company

A Chinese company based in Hong Kong, whose name authorities have not disclosed, agreed to pay over 200 million dollars to the Ethiopian government last week for concessions on Calub Gas Reserve, located in Somali Regional State, sources disclosed to Fortune.

The Ministry of Mines (MoM) floated an international tender in March, 2011, inviting petroleum companies interested in developing the Calub Gas Reserve, which was first discovered during the reign of Emperor Haile Selassie .

This is the largest amount that has been invested in the area. The second largest was made by Petronas from Malaysia, which paid 80 million Br in pre development costs on Calub and Hilala gas fields, according to an expert close to the industry. However, the expert argued that the amount is not high in comparison with the total previous investments made in the area by the government.

“The amount might be in consideration for the cost of the past operations (pre development costs) the country incurred,” an industry player speculated.

The Calub Gas Reserve was first discovered in 1972 by Tenneco, a United States (US) based company, 42 years after it was discovered. It drilled 3,700 metres in the Calub area, located 1,200km from the capital.

Several oil companies have since been attracted by Calub, which has an estimated total gas reserve of 76 billion cubic metres.

Gas exploration was mainly conducted in five sedimentary basins: Ogaden, Blue Nile, Mekelle, Gambella, and Omo Valley .

However, more detailed studies are conducted in the Ogaden Basin in southern Ethiopia, which has attracted several oil companies for extensive exploration works on the area.

The major work that demands huge investments has been already done by different oil companies that did not enter production stage.

However, the newly awarded company is in a more advantageous position, according to the expert.

Around 10 international companies have been involved in the exploration process, since its discovery in the 1930s. Soviet Petroleum Exploration (SPE) confirmed the gas reserves by drilling seven wells, including in Hilala, 80km from Calub, during the Derg regime. Zhoungyan Petroleum Exploration Bureau (ZPEB), a Chinese company, has also been commissioned by the current government for well completion.

“As the field is almost ready for production, the new company would be expected only to establish a plant with all the machinery necessary for Production,” the expert said.

Calub Gas SC, a local private company that was established with an initial capital of 102 million Br in 1995, was also involved in the exploration of the area, after commissioning the technical and economical feasibility studies to two French firms. A total of 95pc of its shares were owned by the government

The company was liquidated in 2005 primarily because its majority shares are owned by the gov’t, such as the former Ministry of Finance (MoF) with 88,043 shares

After the dissolution of Calub Gas, the ministry put the exploration up for international bidding, which Petronas had won.

Nevertheless, the company failed to achieve its ambitious goals.

Petronas, which was established in 1974 and has around 110 subsidiary companies in Africa, stopped its exploration work in Ethiopia over management decisions last year, surrendering all property to the government.

“Petronas left the area for its own reasons,” the expert told Fortune. “The fact that the area has huge potential is unquestionable.”

A few months later, the ministry floated a new tender for the area. A total of seven international companies answered the tender, tying up MoM in the evaluation of the technical proposals and financial offers for about a month.

MoM has completed the evaluation and signed an agreement with the Chinese company on Tuesday, June 7, 2011, sources claimed.

However, higher officials at the ministry have given assurances that they are still finalising the evaluation of the proposals and will only announce the result in two weeks.

The government has projected to increase operations on Calub and Hilala gas projects to 100pc by the end of 2014/15, from its 20pc now. It intends to increase annually by 20pc, according to the GTP.

By MAHLET MESFIN
FORTUNE STAFF WRITER

abnet

June 17th, 2011, 07:48 PM

Ethiopia to hit mining target ahead of schedule :cheers:

www.2merkato.com

Ethiopia to Hit Mining Target Ahead of Schedule

Targets Exporting 1 mln tonnes of Potash a Year

Friday, 10 June 2011

Ethiopia has planned to achieve its target of more than doubling mining exports to 1 billion dollars a year ahead of time, Sinkenesh Ejigu, Minister of Mines, said yesterday.

The country expects to gross about 500 million dollars from mining exports in the current fiscal year, Sinkenesh said. Ethiopia had planned to double that over the coming five years with exploring for potash being its key aim.

Ethiopia is going to start mining potash within two years and is planning to export 1 million tonnes a year over the coming five years, Sinkenesh aid. That would amount to a small but growing portion of global demand, estimated by Potash Corp at 55 to 60 million tonnes for this year.

Nyota, London-listed company, had applied two weeks ago for large-scale gold mining on Tulu Kapi, 500 km west of Addis Ababa. The total inferred resource of Tulu Kapi is estimated at about 1.2 million ounces of gold.

Ethiopia takes 5 percent of free equity and levies 35 percent tax on taxable income generated from mining.

Increasing numbers of investors and mining companies are attracted to the country's large deposits of gold, silver, copper, platinum, potash and tantalum. Chinese investors are looking for opportunities in the region, as have some of the major mining companies.

Sinkenesh said small-scale prospectors currently account for about 50 percent of output.

Ethiopia has around 80 active mining companies, but expects that to rise sharply. Midroc has been the only gold miner until now, but Nyota, now focused on Ethiopia, is set to follow.

Source: Reuters

The Rev Paul Whicker

June 24th, 2011, 10:07 PM

http://www.newsoftheworld.co.uk/notw/_news/1303459/Famine-to-feast.html

"Ethiopia's change from basket case to bread basket has been astounding. An economic phenomenon, the nation lies only behind China and India for increasing national wealth. Its export sector has grown a staggering 48 per cent in eight months. Melissa Sturgess, chairman of British company Nyota Minerals, said: "We have been exploring for gold in Ethiopia for two years. We plan to invest £125million over a three-year period to construct a gold mining and production plant."

Funny enough i have actually met Bob quiet a few times over the years ,he always stays at the La Residencia every first week in August with his kids.

Nyo released results of 12 deeper drilled holes in May with no significant high grade ore worth mentioning.Lots of drilling has gone on outside the infill area,with all the extensions being lower graded than the main infill area with excessive strip ratios.

Most worrying is the Greek effect on the share price now that 13p resistance has been broken.(I did say this was going back to single figures).Thinking more long term for a moment ,should this ever get to the execution stage say in 2017? What will be the likely price of gold in 6 years time,that is the real question,because unless the answer is $1,500 per oz or above this mine ain't ever going to happen.

Simfan34

June 24th, 2011, 10:17 PM

^^How have you been Rev.? Haven't seen you for a while. I agree that unless prices go back up it won't be worth the effort nor would it be profitable to carry out the project.

Now what's a humble priest like you doing in Mallorca? :lol: Just kidding.

Yoniii

July 15th, 2011, 01:08 PM

MIDROC, Three Mines Lucky with 33tn in Gold Find
MIDROC Gold Mine Plc, which is one of the subsidiaries under MIDROC Ethiopia Technologies Group, has announced that it has discovered 33,000kg of gold deposits at its mining block spanning of 2,292 square kilometres (sqkm) at Jillay, some 600km from Addis Abeba in the Metekel Zone of the Benishangul-Gumuz Regional State.

This find comes after seven years of exploration, beginning with Jillaye MIDROC Gold’s third site, MIDROC has two other sites where it mines for gold in Legedembi, located 500km south of Addis Abeba, in the Sakaro Mines. MIDROC Gold stated that it has spent 46.1 million Br for the seven year exploration.

Arega Yirdaw (PhD), CEO of MIDROC Ethiopia, noted that the discovery came after samples were collected in the 770sqkm Jillaye Site, where MIDROC dug 98 holes with lengths ranging from 200 metres to 300 metres deep.

Talks are ongoing with foreign consultants to conduct feasibility studies to determine the technical, economical and environmental viability of starting mining operations, Arega stated. The CEO also noted that if the studies prove positive, the potential gold production in Jillaye could go beyond 2025.

“We will continue exploration on the remaining 770sqkm block with the possibility of further discoveries of more deposits,” Arega said.

Arega noted that once extraction begins in Jillaye, it would supplement MIDROC’s revenue from Legedembi and Sakaro which are currently in the digging stage. The Legedembi Gold Mine is an open pit operation with annual production of 1.6 million tonnes of ore.

“We see production coming in a cascading effect and soon Sakaro will start production followed hopefully by Metekel. Legedembi can last another 12 to 13 years and we expect similar outputs from the two additional farms. By 2030, this company will be secure even by conservative estimates,” Arega declared.

The grade of the Jillaye Site is similar to the Legedembi Mine which is the only MIDROC Gold mine that is producing gold. Legedembi has a yearly average production of about 4,500kg of gold-silver doré with the average composition of 78pc for gold and 21pc for silver. The gold doré bars are shipped to Argor Heraus refinery in Switzerland where it is refined and sold to Commerzbank in Zurich.

To meet the growing demand for mining experts, Arega stated that a mining engineering department would be opened at MIDROC’s other subsidiary, Unity University, to build the company’s local capacity in mining.

MIDROC Gold is the only company involved in industrialised primary gold exploration; Legedembi Mine has been the main source of gold for MIDROC Gold Plc. MIDROC is the only private company currently producing gold in Ethiopia since its acquisition of the Legedembi mine at a cost of 172 million dollars in 1998 through the government’s privatisation programme.

MIDROC Gold Mine Plc is owned by Mohamed Ali Al-Amoudi (Sheikh) and his family, with 98pc of the share and the remaining two per cent allocated as a free equity share for government participation, represented by the Ministry of Finance and Economic Development (MoFED).
http://www.addisfortune.com/MIDROC%20Three%20Mines%20Lucky%20with%2033tn%20in%20Gold%20Find.htm

abnet

July 16th, 2011, 05:18 PM

Chinese mining giant commences gold exploration in Ethiopia.
The Reporter - English Edition

Chinese mining giant commences gold exploration in Ethiopia

Saturday, 16 July 2011 06:32
By KALEYESUS BEKELE

Two companies start gold production

The Chinese mining giant, Sino Tech, has started prospecting for gold in the Benishangul Gumuz Regional State, western part of Ethiopia.

Mr. Zhang Wei, Sino Tech Ethiopia’s country office head, told The Reporter that the company acquired 756.91 sq.km of exploration area in the Benishangul region in March last year. “We commenced work on the project immediately,” Mr. Wei said. The company has collcted various geological data from the concession.

According to Mr. Wei, the company has already conducted seismic, gravity and magnetic survey in the exploration area. “Currently we are interpreting the data we collected from the exploration area, which looks promising.”

Gold is traditionally mined in the Benishnagul region. Recently, an Egyptian company made a primary gold discovery in the region.

Sino Tech International is a Hong Kong-based Chinese investment group established in 1980. It has a dozen of companies engaged in minerals and petroleum resources development, energy generation, and manufacturing. It is the parent company of Zougyan Petroleum Exploration Bureau (ZPEB), which conducted the well completion work on the eight Calub gas production wells in 1995. Hired by Petronas, the Malaysian oil and gas giant, ZPEB conducted petroleum exploration work in the Gambella and Ogaden basins. ZPEB was also subcontracted by South West Energy to do petroleum exploration work in Ogaden.

In another news, an Ethiopian and Chinese joint venture company, Makeda, last month conducted gold test production in its gold mine located in north Tigray. Makeda, jointly owned by Ezana Mining and Donia Beijing Resources, a Chinese mining company, produced 6.36 kg of gold in the test production . a Company executives told The Reporter that they processed 5,000 tons of rocks to obtain the 6.36 kg of gold. The company plans to start gold production in Terer locality. “The company’s board of directors will decide this month whether to engage in large scale gold mining or not,” the executives said.

In a related development, Etno Mining, a company established by Ethiopian and Norwegian geologists and investors, is set to start placer gold production in the on the Akobo river bank in the Gambella Regional State. Company executives told The Reporter that Etno recently started test production adding that it is producing 60 to 70gm of gold each day. The executives said they would start supplying the gold to the National Bank of Ethiopia. This project was first initiated by Dr. Befekadu Balcha, former vice minister of the then Ministry of Mines and Energy, and his work colleagues and friends

Roha

July 20th, 2011, 04:37 PM

http://www.theafricareport.com/archives2/business/5167210-ethiopia-signs-gas-and-oil-contracts.html

Ethiopia signs gas and oil contracts

Tuesday, 19 July 2011 17:55

Ethiopia has signed agreements with eight international companies that will explore for gas and oil deposits across the country.

©Reuters

The Horn of African country’s Ministry of Mines on Tuesday said it had signed 11 petroleum profit sharing agreements and one joint survey agreement with the eight companies.

This follows a study by the ministry that showed that the country had a huge potential for oil and gas production.

According to the study, after natural gas discoveries in Kalub and Hilala in the eastern part of the country, other deposits of natural gas were found near Genale.

The country's oil and gas potential has attracted a number of foreign exploration companies.

Companies currently engaged in exploration in the country include, Africa Oil Corporation, Calvalley Petroleum Inc, South West Energy, Pexco Exploration, Tullow Oil, Epsilon Energy Ltd, Falcon Petroleum and Afar Exploration Company.

Ethiopia’s mining sector has recently been attracting foreign mining companies and the country has set an ambitious plan to boost earnings from mining exports to one billion US dollars in the next five years.

Currently, it is getting around $ 450 million.

The Rev Paul Whicker

July 23rd, 2011, 12:43 PM

http://www.sumatracoppergold.com/?LinkServID=3ABC1622-9DDA-5E81-49771C09329DAFA5&showMeta=0

Simfan34

July 24th, 2011, 08:49 PM

Well I'm glad to see the positive trend. Thanks for sharing Rev.

abesha

July 27th, 2011, 08:59 PM

Stratex International excited by initial results from Megenta gold project

Investors cheered today’s drilling report from Stratex International’s (LON:STI) Megenta epithermal gold discovery in Ethiopia, sending shares in the company up 4 percent this afternoon.

More results are expected to follow with Stratex now preparing to drill into the peak gold disposition zone.

Stratex is currently undertaking an initial 3,000 metre drilling programme at Megenta.

It has now received the results from the first eleven drill holes for 2,260 metres, which returned a number of “highly encouraging” drill intersections, confirming extensions to gold mineralisation.

The best results included an intersection of 33.3 metres at a grade of 0.54 grammes per tonne (g/t) gold including 2.57 g/t gold over 1 metre and 1.67 g/t Au over 2.1 metres.

“We are highly encouraged by these results from selected intersections from initial drill holes at Megenta, the first of multiple discoveries in the new Afar epithermal gold province,” said executive director of East Africa at Stratex International David Hall.

Most importantly, the company noted that drilling is yet to intersect the boiling zone, where it its says it may find bonanza gold grades that it knows exist in the district.

Work is currently being undertaken to locate the area that is likely to host bonanza grades, based on the fluid dynamics that controls gold distribution at the Megenta prospect.

Stratex is currently continuing with its drilling programme to test mineralisation in several structures over the wide project area.

The company has also collected selective samples from seven holes to aid drill planning for further exploration programmes.

Shares in Stratex climbed 0.37 pence (4 percent) to trade at 9.75 pence this arfernoon, giving the company a market cap of £32.9 million.http://www.proactiveinvestors.com/companies/news/16696/stratex-international-excited-by-initial-results-from-megenta-gold-project-16696.html

I hope all these gold and other mines start production by the middle of this decade. How long does it typically take from discovery to production? Anyone know?

abesha

July 27th, 2011, 09:54 PM

I'm getting a little confused by all the different companies and the regions they are in. Check the summary below and let me know if there's anything off.

Gold exploration - location:

NMC - discovered deposit in Dawa Dagiti (southern Oromia)
Canaco/Ezana - discovered deposit in Terakimti (northern Tigray)
Nyota Minerals - discovered deposit in Tulu Kapi (western Oromia)
Stratex - discovered deposit in Megenta (Afar)
ASCOM - discovered deposit in Benishangul-Gumuz
Midroc Gold - discovered deposit in Bulen (Benishangul-Gumuz)
Stratex/Sheba - exploring in Shehagne (northern Tigray); Berahale (Afar), Mille Serdo (Afar)
Stratex/Loz Bez - exploring in AbiAdi (southern Tigray)
Stratex - exploring in Gademsa (central Oromia)
Canaco/Ezana - exploring in Nefasit, Hamlo, Adi Nebrid, Igub and Medri Felasi (all north Tigray)
ASCOM - exploring in Dish Mountain and Abetslo (Benishangul-Gumuz) - positive signs
Sino Tech - exploring in Benishangul Gumuz
Donia Beijing/Ezana - exploring in north Tigray
Altau Gold - exploring in Tigray and Oromia
EMDC - nationwide
Ambo Gnemer - exploration in Ambo, Oromia

Potash exploration - location:

Allana - discovery in Dalol (Afar)
Ethiopian Potash corp - exploring in Afar
Sainik - Afar
G&B - exploring in Afar
BHP Billiton - exploring in Afar

Oil/Gas exploration - location:

Tullow/Africa Oil - South Omo
SouthWest Energy - Ogaden Basin
Africa Oil - Ogaden
Calvalley - Gimbi and Metema (Oromia)
Pexco - Ferfer and Abred (Ogaden)
Epsilon - Amhara
Falcon - Were Ilu (southern Amhara)
Afar Exploration comp - Afar

Silver exploration - location:

NMC - northern Amhara and Tigray
Stratex - discovery in AbiAdi (Tigray)

Other minerals :

Vale - exploring for copper, cobalt, nickel in Konso, SNNPR

Ethiopian-owned are in green.

yosef

July 27th, 2011, 10:51 PM

^^that looks good, here is another Potash investor:

Sainik Potash, has been working on a potash development project in the Afar Regional State since 2007. Sainik Potash is a subsidiary company of Sainik Coal, a giant coal manufacturing company in India. The investment group, Sainik, is planning to establish another new company which will be engaged in marble production in Ethiopia.

Reporter (http://www.thereporterethiopia.com/News/indian-company-to-build-sugar-mill.html)

says they are planning to go into marble production as well

yosef

July 27th, 2011, 10:54 PM

I hope all these gold and other mines start production by the middle of this decade. How long does it typically take from discovery to production? Anyone know?
dont know about the time tables to be honest, I think teklu might be a bit more knowledgable on that. But it looks like almost every region of the country has at least some amount of gold (with the biggest deposits being in Benishangul and in the north).

abesha

July 29th, 2011, 06:35 AM

Thanks Yosef, I added Sainik.

According to the WSJ, Gold prices may hit $10,000 per OUNCE in 2025. It's $1,616 per ounce today. Wow!

http://online.wsj.com/community/groups/oil-921/topics/gold-prices-may-hit-10000

teklu

July 29th, 2011, 09:27 AM

Add Alatu Gold

Altau Gold ("Altau" or the Company") is focused on discovering the next generation of gold and copper mines in Ethiopia. We are a team of experienced industry professionals with a track record of discovery, development, financing and sale of mining projects across Africa. Altau is a wholly subsidiary of Asterion AV, one of the Altus Strategies group of companies (www.altus-strategies.com).

Altau established operations in Ethiopia in 2010 following an extensive period of data collection and target selection. The Company has assembled an extensive GIS database on the country, comprising a range of geological and geographical datasets as well as significant geochemical exploration data compiled by various agencies. The Company has also engaged a remote sensing specialist to undertake an extensive Landsat 5 ETM and ASTER interpretation programme covering 90,000km22 of Ethiopia's most geologically prospective regions and primarily the underexplored Nubian Shield which outcrops in over 20% of Ethiopia.

Altau has been granted licences in both Tigray and Oromiya province and initiated exploration in October, 2010. In 2011, the Company plans extended phases of exploration on its licences including detailed target follow up and channel sampling, comprehensive regional stream and BLEG sampling and where warranted, soil grids and ground geophysics to help establish drill targets.

their website (http://www.altaugold.com)

also Ethiopian Mineral Development Share Company (EMDSC)
EMDSC is government-owned and has tantaleum peoduction as its major project now. EMDSC is involved in prospecting and exploration for precious metals (gold and platinum), rare metals (Ta, Nb, Be Li, Sn, etc), industrial minerals (kaolin, quartz, feldspar, diatomite, bentonite, dolomite, limestone), decorative stones (granite, marble) and gemstones (among which precious opal, aquamarine, emerald, peridot, amethyst, red garnet are important).

abesha

July 30th, 2011, 07:15 PM

^^ Added them, thanks.

Sainik imports mining equipment for potash production

The Indian mining company, Sainik Potash, which is prospecting for potash in the Afar regional state is importing different mining equipment. A company executive told The Reporter that with the view to starting potash production in a pilot project the company is importing various mining machineries and equipment. “The machines and equipment have already arrived in Djibouti,” the official said.

Sainik was licensed in 2007 by the Ethiopian Ministry of Mines to prospect for potash in the arid Afar regional state. The company is also licensed to develop the potash deposit estimated at 160 million tons. Since 2008 Sainik has undertaken different exploration work including seismic and drilling work. “We have drilled several exploration wells to confirm the deposit estimate. So far the results are promising and we plan to start production in 2013 in pilot project.”

Sainik plans to start full-scale production in 2014. The company has spent 60 million dollars on the exploration project.

Sainik Potash sister company, Razia, Razia’s sister company, is to build a sugar mill in East Wollega. Sainik Potash is a subsidiary company of Sainik Coal, a giant coal manufacturing company in India. The investment group, Sainik, is planning to establish another new company which will engage in marble production in Ethiopia.

In a related news the Canadian mining company, Allana Resources, plans to start potash production in 2014. Allana started exploration in the Dallol depression a year a ago. A company official told The Reporter that the company has finalised 90 percent of the exploration work adding that it is working on a feasibility study. According to the official, the company plans to start production in 2014.

“We are happy with the exploration work both companies have done so far,” said Gebreigzabher Mekonnen, minerals operation head with the Ministry of Mines. “The ministry will provide any assistance the companies may need,” he added.

The Italians used to mine potash in the Dallol depression in the 1930s on a small scale and export the product to Italy via port Massawa.

Allana's potash project comprises four potash concessions located in Ethiopia's northeastern Danakil Depression on an area approximately 160 sq. km in extent. The potash mineralization in the Danakil Depression is well-known with small-scale potash mining carried out intermittently from the early 1900's.

Two other companies, G& B, British and BHP, the Australian mining giant based in Canada, are also prospecting for potash and other related minerals. Potash is used for producing fertiliser.http://www.thereporterethiopia.com/News/sainik-imports-mining-equipment-for-potash-production.html

abesha

August 9th, 2011, 03:50 PM

Second Largest Nickel Producer Sets up Shop in Konso

Vale South Africa is seeking to explore copper, cobalt, nickel in Konso, mines

Vale South Africa Exploration Ltd, a subsidiary of Vale Inco Ltd, the second largest metal mining company in the world, has acquired an industrial mining exploration licence in the Southern Regional State upon depositing one million dollars in a closed book account, last week.

Vale Inco Limited, which is based in Australian, has 500,000 shareholders and a market capitalisation of around 160 billion dollars. It has acquired a 1,822sqm plot of land in Konso, Southern Regional State, 441Km from the capital. Vale is seeking to explore copper, cobalt and nickel, which are used as raw materials for industrial and food production industries.

The company is the second largest nickel producer, which is used to produce stainless steel aircraft, mobile phones and fertiliser nutrients. Vale acquired a prospecting licence to assess the region’s potential last year, before applying for the mining licence.

“Since there is no detailed geological data’s developed by the ministry, which requires heavy processing materials, the exact potential of the country is not known,” Gebre Egzihabher Mekonen, director of Mineral Operations at the Ministry of Mines (MoM), told Fortune.

“The area is not considered to be a particularly lucrative field for this type of mine exploration, but since the company has made its own study before acquiring licence, they might be successful,” Mekonen said.

Vale is the second company engaged in industrial exploration, next to BHP Billiton, a British company engaged in potash exploration on 17,000sqm in Dalol, Afar, located 603Km from the capital. The lack of road infrastructure has created a lag in exploration works.

MoM issues mining and exploration licences for five types of minerals, including, construction minerals which are to be used for construction purposes, such as limestone. Metallic minerals like tantalum, precious metals such as gold and platinum, and semi precious metals, like opal, are also mined and explored.

MoM has awarded 56 exploration licences and seven production licences, of which most concessions are located in Oromia and Benishangul Gumuz Regional States. Out of the licences issued, four of the concessions were given to local companies, including, Ambo Nymer Agro and Integrated Industries Share Company, MKB Geosystems Plc. The ministry, on the other hand, cancelled 17 explorations and two mining licences because they did not begin operation during the contract time.

The ministry has collected 104.4 million Br in the form of royalties from 26 companies. MIDROC Gold Mine Plc, which is one of the subsidiary companies under MIDROC Ethiopia, owned by Mohammed Al-Amoudi (Sheikh), has paid the highest amount in royalties, amounting to 100.1 million Br. The company in 1998 acquired Legedembi, which has a yearly average production of about 4,500Kg of gold-silver doré, with the average composition of 78pc for gold and 21pc for silver. The gold- silver doré has earned 1.9 billion Br by producing 3,025Kg of gold and 714.8Kg of silver during this fiscal year.

Ambo Mineral Water, which extracted 26.7 litres of water, and Afar Salt Manufacturing Share Company, which produced 125tn of salt, have also paid one million Br and 714 million Br, respectively, according to the report.http://www.addisfortune.com/Second%20Largest%20Nickel%20Producer%20Sets%20up%20Shop%20in%20Konso.htm

abesha

August 9th, 2011, 03:56 PM

Here's an article we missed back in May - it's about one of the local companies mentioned in previous post:

Newly-established company acquires gold exploration license

Ambo Gnemer Agro and Integrated & Industries S. Co., a newly-established company which recently secured 128,000 ha of land - the largest one ever given for a single local company in the country - has secured a gold exploration license from the Ministry of Mines.

The company secured the land from the Oromia Regional State, thereby joining the rank and file of a few foreign investors waiting to get hold of up to 300,000 ha of arable land, about six times the size of Addis.

The company will run the gold exploration operation on a vast land covering Western Shoa and Eastern Wolega.

The company was established by 90 prominent people mostly from Ambo with a subscribed capital of two million birr and an authorized capital of two billion birr, according to Dereje Dejene, board member of the company.

It is poised to engage in various projects classified under five categories: agriculture and agricultural products, cement and construction materials, mines, industries and commerce. It has also received license for the extraction of limestone for the cement plant it envisage to set up after floating shares to the general public.

The company will establish various industries, including cement, marble, gypsum, textile and glass factories, according to its plan. It will be engaged in mining and related development activities. It will have trade houses conducting commercial and trade activities, among many other business operations.

The company plans to launch the full-scale project within the coming two years, if it successfully collects some two billion birr from about 100,000 people.

The 128,000 ha of land the company got hold of is 90 km west of Ambo, with tributaries to the Blue Nile crossing and bordering the region. The company plans to use the Gouder River, one of the major tributaries to the Blue Nile, to irrigate parts of the land.

http://www.thereporterethiopia.com/News/newly-established-company-acquires-gold-exploration-license.html

abnet

August 11th, 2011, 08:23 PM

Stratex international significant gold discovered in megenta, Ethiopia. :cheers:

Stratex International shares advance after “significant” results at Megenta
Wed 12:20 pm by Jon Mainwaring Stratex is now looking to begin an initial scout drilling programme at its Blackrock discoveryStratex is now looking to begin an initial scout drilling programme at its Blackrock discovery

Shares in gold miner Stratex International (LON:STI) climbed to as much as eight pence each this morning after it announced “significant” results from drilling at its Megenta gold discovery in the Afar region of Ethiopia along with new high-grade samples from its nearby Akehil gold prospect.

By 10:16am, the shares were 13.2 per cent up at 7.94 pence each.

The firm, which is focused on Djibouti, Ethiopia and Turkey, said it had had “highly encouraging” results from hole MG-DD-10. It has been found to contain a broad near-surface zone of 43.55 metres grading at 0.67 grams per tonne of gold, with highlights including a high-grade 8.27 gram per tonne gold over 0.3 metres and 3.56 grams per tonne over 2.9 metres.

Stratex added that the newly-drilled zone correlates with a wide zone of 33.3 metres that grades 0.54 grams per tonne within MG-DD-9.

Stratex, with its partner Thani Ashanti, is undertaking a 3,000-metre drill programme at Megenta. To date, 13 holes have been drilled over a wide area.

Elsewhere in the Afar project, two banded vein float samples from the Akehil prospect, 9.4 kilometres west/south-west of Megenta, returned 57.3 grams per tonne and 16 grams per tonne respectively.

“This new discovery continues to yield significant results and together with previous results they show that Megenta is a large and exciting new gold system.

The broad zone of gold mineralisation correlates well with the zone 50 metres to the north in [the MG-DD-9 hole], and with extensive alteration and numerous calcite-silica veins with grades up to 8.27 grams per tonne gold, it bodes well for increased grades at depth,” said David Hall, Stratex’s executive director of East Africa.

“Equally significant is the presence of high grade float samples at the Akehil gold prospect only nine kilometres from Megenta on the west side of the basalt horst block. This further confirms that bonanza grades are present in epithermal veins within the Afar, and along with the evidence from the Blackrock discovery 250 kilometres to the north, underpins the prospective nature of the area where we have a substantial licence holding.”

Hall added that the firm will review all results from Megenta once available, and prepare the camp at the firm’s Blackrock discovery with a view to commencing an initial scout drilling programme in Q4 2011.

Analysts at broker Collins Stewart commented that the results showed decent intersections but were “no game changer” in themselves. “This is early days, however Afar is shaping up like a potentially exciting new epithermal gold provice,” the broker said.

Collins Stewart added that Stratex has a “strong technical team” and is one of its favoured junior explorer plays on the London market. “While still very early stage, the company is building an extensive portfolio of interesting projects in Ethiopia and Djibouti, which are likely to surpass the more advanced projects in Turkey,” it said.

In Turkey, Stratex’s prime objective is to move into gold production through its partnership with its Turkish partner NTF. Total resources there stand at 1.5 million ounces of gold and 7.1 million ounces of silver, with initial production targeted at the Inlice project in H1 2012 and at Altintepe by 2013.

The firm’s Ethiopia and Djibouti portfolio, including the Afar project, is owned by Stratex East Africa. Thani Ashanti owns five per cent of SEA.
Register here to be notified of future Stratex International articles.

The Rev Paul Whicker

September 4th, 2011, 03:12 PM

Hi everyone,

Just thought I would pop in and say hello seeing as I haven't posted here for a while.

STI doing the business,pity about NYO.

The Vicar

abnet

September 7th, 2011, 01:56 AM

^^ Good to see you rev. how you been? I think if you invest on stratex you might hit the jackpot b/se they hit big one this time.

www.2merkato.com

Stratex Discover More Gold in Ethiopia
Tuesday, 06 September 2011 13:04 Yelibenwork Ayele Ethiopian Business New

Stratex International, the AIM-listed gold miner, discovered more gold from drilling at its Megenta hot spring epithermal gold discovery within its exclusive exploration licence at Tendaho in the Afar Regional State.

These include high grade intersection of 19.50 g/t Au over 0.70 metres in hole MG-DD-12 with the potential for bonanza grades veins.

These occurred within zone of 4.49 g/t Au over 3.25 metres about 70 metres below surface and extend the target zone 460 metres along concealed graben edge. The priority target zone at Megenta now extends over 3 km.

The company has completed the 3,000 metre 14-hole scout drilling programme at Megenta and it is now planning to follow up drilling which it will discuss with Thani Ashanti, its partner.

The high-grade result was taken from a 0.70 metre-wide sample that includes a 0.25 metre vein within brecciated basalt [formed into sharp-angled fragments embedded in a fine-grained matrix], which indicates that the vein could contain bonanza grades higher than 19.50 g/t.

Drilling of deeper holes will be planned in a follow-up programme to be approved by Thani Ashanti, Stratex's partner.

In addition, Stratex will begin exploration on its other gold targets in the Afar region - Akehil, Boraule, and Det Bahari in Ethiopia and Asal and Dimoli Khan in Djibouti.

It was reported early in August that Stratex International's shares shot up following its announcement of "significant results" from drilling at its Megenta hot spring gold discovery in Ethiopia.

Source: StockMarketWire

The Rev Paul Whicker

September 17th, 2011, 09:31 PM

abnet

Great thanks,

Yes Stratex looks very interesting,but doesnt Afar have some security problems?

yosef

October 1st, 2011, 07:19 PM

Brazilian mining giant to engage in gold exploration in Ethiopia

Saturday, 01 October 2011 07:07

By KALEYESUS BEKELE

The number one iron ore producer in the world, Vale, has secured a gold exploration area in southern Ethiopia. Vale, the second biggest mining company in the world, next to BHP, is based in Brazil. The company has requested the Ethiopian Ministry of Mines to be given 900 sq.km. of exploration area in Konso woreda. The exploration area is found between the Oromia and Southern Peoples, Nations and Nationalities Regional states.

Gebreigzabher Mekonnen, head of the mining operations with the Ethiopian Ministry of Mines, told The Reporter that the ministry recently granted the exploration licence to Vale. According to Gebreigzabher, the company agreed to conduct scientific exploration work to discover primary gold reserves and base metals such as silver, copper, cobalt and zinc. “The company committed itself to undertake its exploration work using internationally recognised technologies. The company will undertake geophysical surveys including air-born geophysics.

Vale, a state-owned company until 1997, primarily mine iron ore in Brazil. Vale is by far the world’s biggest producer of iron ore, digging up more than 230 million tonnes of the stuff a year. According to a Boston-based consulting firm, the company made 147 billion dollars capitalisation in the past decade alone. Vale relies on iron ore for 65 percent of its revenues. According to The Economist, the remarkable growth registered by Vale is propelled by the Chinese huge demand for iron ore.

The escalating price of gold in the international market has encouraged companies to prospect for gold in new frontiers. The price of an ounce of gold, 270 dollars in 2002, has escalated to 1900 dollars. This has prompted mining companies to increase their expenditure on new exploration areas. According to Gebreigzabher, the ministry is issuing five to seven gold exploration licenses every month.

The number of companies that are applying for industrial mineral exploration licenses is also increasing. “As the local manufacturing industry is growing, the demand for industrials minerals is increasing,” Gebreigzabher said. In 2010, Ethiopia earned more than 177 million dollars from the export of gold and tantalum.

“It is, indeed, a great achievement for the Ethiopian Ministry of Mines to attract the second biggest mining company to Ethiopia,” an industry analyst told The Reporter. “The biggest mining company, BPH, is already working on potash project in the Afar Regional State. Attracting world giant companies such as Vale and BHP is really a big achievement by itself,” the analyst said.

Reporter (http://www.thereporterethiopia.com/News/brazilian-mining-giant-to-engage-in-gold-exploration-in-ethiopia.html)

yosef

October 1st, 2011, 08:34 PM

^^ by the way, the above is basically a repost of abesha's post in #184 (http://www.skyscrapercity.com/showpost.php?p=82682931&postcount=184)

Here is another gold explorer to add to the list:

Alecto Starts Gold Exploration in Ethiopia

http://www.2merkato.com/images/stories/alecto.jpg

Alecto Minerals plc, the AIM listed resource company, announced today that it had started exploration programmes on its 1,953 sq km gold exploration licence in a mineral-rich region of Ethiopia.

The company’s key focus has been on advancing its 1,953 sq km gold licence in the Aysid-Metekel region of north western Ethiopia, Damian Conboy, managing director of Alecto, said.

Alecto acquired the 1,953 sq km gold exploration licence in May which marked its move into the Arabian-Nubian shield on the Western Akobo Greenstone belt, a prime mineralised region with extensive artisanal workings.

[..]

continued at 2merkato (http://www.2merkato.com/20110930378/alecto-starts-gold-exploration-in-ethiopia)

The Rev Paul Whicker

November 5th, 2011, 11:02 PM

Hi there everyone,

LICENSING

Saturday, 05 November 2011 06:09 By KALEYESUS BEKELE

.1 Comment The Ethiopian Ministry of Mines last week suspended issuing minerals exploration licenses. Tolossa Shagi Moti, state minister of Mines, told The Reporter that the ministry had issued minerals exploration licenses to numerous local and foreign companies. “We need to know who is working according to the agreements made with us and we need to identify those who are keeping the exploration areas idle,” Tolossa said.

“We also need to conduct technical evaluations on the exploration work and this will take time. And we have a limited capacity to do the job.” The ministry has lost senior staff, most of them are geologists and this has hampered the ministry’s supervisory work. “We have a lot of applications for new exploration areas and we need to assess and clear our tables before accepting new ones. So we have decided to suspend accepting new applications and issuing licenses until we finalise these works,” Tolossa said.

Tolossa admitted that the ministry has lost many senior geologists and this has affected the pace at which the ministry can process licensing applications and monitoring work. “We managed to attract many big foreign firms and we are happy about that. But the job has become demanding and trying as we do not have adequate number of professionals.”

The ministry was able to attract world mining giants such as Vale and BHP. The ministry has granted about 200 minerals exploration licenses to more than 100 local and foreign companies. The coming of global mining giants is a blessing in disguise to the ministry as these companies are siphoning off qualified professionals from the ministry.

teklu

November 23rd, 2011, 09:51 AM

development news on allan potash,

TORONTO (miningweekly.com) – Allana, the company that owns a potash project in Ethiopia, on Tuesday said an independent early assessment gave the asset an after-tax net present value of $1.85-billion, and a 36.8% internal rate of return.

The preliminary economic assessment (PEA) predicted it would cost $796-million to build a one-million ton a year mine at the Danakhil project, in line with CEO Farhad Abasov’s earlier projections.

He said in a statement on Tuesday that the capital cost figure, which included port and other infrastructure, “makes this project one of the lowest cost and potentially highest return potash projects worldwide”.

The PEA concluded that a solution mining operation would be more profitable than conventional potash mining.

It forecast operating costs of $90.54/t for the Danakhil project, including transportation to the port of port Djibouti.

“The PEA also allows Allana to move forward confidently with its project finance plans and ongoing talks with potential strategic partners,” Abasov said.

He told Mining Weekly Online earlier this year that Allana hoped to being the project into production in 2014.

Other companies with projects in the area include BHP Billiton, Ethiopian Potash, and Australian junior South Boulder.

kyohann

November 23rd, 2011, 03:32 PM

Is the new rail corridor going to pass thru this area?

abnet

November 23rd, 2011, 06:19 PM

Is the new rail corridor going to pass thru this area?
I don't think so.Look the map below.The Dallol region is the far north-east of the country.In my opinion though it should, because transporting more than a million ton of potash by using trucks will be very expensive and will take a big toll on the road.Beside Allana potash there are about 4 more potash exploring companies in the area in different level of progress.

http://danielberhane.files.wordpress.com/2010/12/ethiopia_railway_design_phase_1__2.jpg

From http://danielberhane.wordpress.com/2010/12/31/update-ethiopia-new-railway-phase-i-ii-maps/

kyohann

November 24th, 2011, 12:07 AM

Interesting, the mining companies may end up building a spur to the main line. Eritrea shore is mighty close to this location!

rasta55

November 24th, 2011, 08:30 AM

Interesting, the mining companies may end up building a spur to the main line. Eritrea shore is mighty close to this location!

http://business.financialpost.com/2011/05/27/allana-potash-gets-a-boost-as-india-invests-in-ethiopian-railway/

Allana Potash gets a boost as India invests in Ethiopian railway

Eric Lam May 27, 2011 – 9:31 AM ET
David Stobbe/Reuters

Allana Potash Corp.‘s Dallol potash project in Ethiopia got a major boost this week after India committed US$300-million towards an Ethiopia-Djibouti railway line expansion, a move that may be part of the rapidly growing country’s strategy in negotiations with Canadian potash suppliers.

Richard Kelertas, analyst with Dundee Capital Markets, said in a note the railway, expected to be complete in five years, will give Allana access to the port at Djibouti for export of its future potash production.

“Allana will be able to use the transportation network to rail its potash from Addis Ababa, the capital of Ethiopia,” he said.

The Ethiopian government has also committed to building road infrastructure leading to the Dallol property.

Of course, this news comes as India and potash producers continue to negotiate a new potash supply contract, after failing to come to terms at the International Fertilizer Association’s annual conference in Montreal this week.

Indian negotiators led by U.S. Awasthi, managing director of the Indian Farmers Fertilizer Cooperative Ltd., demand a discount on current spot prices and claim Indian farmers can skip a year of potash applications if need be.

Meanwhile major potash players such as Potash Corp. of Saskatchewan are wary of giving India too much of a break as other countries will likely demand similar treatment.

“We view these comments as more of a scare tactic than anything else and believe a deal between the producers and India will be tabled within the next couple of months,” Mr. Kelertas said.

Of note is that Mr. Awasthi highlighted Ethiopia specifically as a greenfield site for future production.

“In our view, India definitely has no loyalty to Canpotex whatsoever and could seek to secure potash supply independent of the big marketing conglomerates,” he said.

India needs more than 7 million tonnes of potash, but many of these projects other than Ethiopia are a long way off from production, he said.

Mr. Kelertas maintains a buy rating with price target of $2.50.

rasta55

November 24th, 2011, 08:49 AM

Afar Pastoralist Communities Gain New Roads

The construction of three asphalt roads were launched at a cost of over four billion Birr in Afar Regional State with a view to improve the livelihoods of pastoralist communities in the state, according to the Ethiopian Roads Authority (ERA). Two of the projects, the Agula’e – Shahigubi – Berhale and Berhale – Hamed Ela Dalul roads, will be constructed by local contractors while the Mekelle – Abeala – Erebti – Afdera road will be built by a Chinese company, according to Samson Wondimu, director of the Communications Directorate for the authority. The government will cover the full cost of the 453km roads, Samson said.

http://www.addisfortune.com/Vol_10_No_550_Archive/newsinbrief.htm
Publication The Ethiopian Herald, November 9, 2010.

Ras Siyan

November 26th, 2011, 12:22 PM

Are they planning any links from the mines to the Djibouti ports? As abnet said, transporting that much potash by trucks will be costly...

Either way, it''s good news for our ports. :cheers:

rasta55

November 26th, 2011, 07:24 PM

Are they planning any links from the mines to the Djibouti ports? As abnet said, transporting that much potash by trucks will be costly...

Either way, it''s good news for our ports. :cheers:

Well, the road from the mines at Dalloll thru Berahile to Agula (on the main Mekele-Adi Grat road) is under construction...

And routes 5 & 6, of the proposed phase I railway network, combine to create the rail link: Mekele -Woldiya - Mile -Port Tajura....

==================
http://www.addisfortune.com/Vol_10_No_562_Archive/Meles%20Eyes%20Regional%20Ports%20amidst%20Decentralised%20Projection%20of%20National%20Economy.htm
.....There is also a new plan by the Djiboutian government to build a port in Tadjourah, northern Djibouti, the successful completion of which Meles’s administration is keen to see.

“Ethiopia is cooperating with Djibouti on the new port of Tadjourah,” Meles told Parliament. “We are working on a railway line to this port.”....

Ras Siyan

November 26th, 2011, 09:06 PM

^^ Thanks for the info Rasta. This is great news for the upcoming Tadjoura port I guess...A port we built exclusively for u guys I should add, make full use of it. :cheers:

abnet

December 3rd, 2011, 12:57 AM

Nyota minerals to complete feasibility study on Ethiopian concession.

Friday, 25 November 2011 15:38 Meron Tekleberhan

Nyota Minerals has announced that it is completing its definitive feasibility study on its 1.5 million ounce concession at Tulu Kapi in Ethiopia. The study is required to support the project's financing.

The company has developed the Tulu Kapi concession from zero to more than 1.5 million ounces through drilling an estimated 230 holes in two years according to statement released by Nyota to its investors.
"This has allowed a three-pronged asset development strategy, with a considerable near-term work program for Tulu Kapi and the proximal targets, whilst providing upside for investors through regional exploration” explained the statement.

The Nyota project has entered the pre-development stage within an anticipated annual production rate of 100,000 and 115,000 ounces of gold every stretching for ten years said the company statement.

The area where it is active is one that is an upcoming region in gold production and mineral exploration expressed Nyota.

It is to be remembered Nyota Minerals announced assay results for a further 32 diamond and reverse circulation drill holes covering the main Tulu Kapi ore body and step out targets, with positive infill results underpinning the resource base last month.

Nyota Minerals Limited (Nyota) is a mineral exploration and development company dual listed on the AIM Market of the London Stock Exchange (AIM:NYO.L) and the Australian Stock Exchange (ASX:NYO.AX)

Source: Proactive Investors

http://www.2merkato.com/20111125609/nyota-minerals-to-complete-feasibility-study-on-ethiopian-concession

AlexBelay

December 12th, 2011, 04:13 PM

Tigray Drills 73.8 Metres of 3.8% Copper, 1.3 Grams Per Tonne Gold and 14 Grams Per Tonne Silver-Confirms Copper-Gold VMS Discovery at Harvest Project in Ethiopia

VANCOUVER, BRITISH COLUMBIA, Dec 12, 2011 (MARKETWIRE via COMTEX) -- Tigray Resources Inc. /quotes/zigman/6447891 CA:TIG 0.00% ("Tigray" or the "Company") is pleased to report initial diamond drill results from the 13,000-metre first phase drill program at the Terakimti copper-gold-silver-zinc prospect on the Company's 70%-owned Harvest project in northern Ethiopia. The drill program is designed to test the one-kilometre long Terakimti volcanogenic massive sulfide (VMS) prospect to a depth of 250 metres.

Drilling to date in the southern part of the Terakimti target area has defined thick (10 to 35 metre true width) zones of steeply south-dipping massive sulfide mineralization over a 250-metre strike length, with an interpreted plunge to the mineralized system of 35 to 40 degrees to the ENE. Step-out drilling will target deeper mineralization along strike and down plunge of the system, as well as target under gold-rich gossans and specific geophysical anomalies along the one-kilometre strike length.

Tigray has three diamond drill rigs on site and has completed approximately 6,500 metres of diamond drilling in 35 holes to an average depth of 195 metres. The first phase drill program is expected to be complete in the first quarter of 2012.
Click here for a plan view map: http://media3.marketwire.com/docs/TIG_drill_collar_location_map_12_dec_2011.pdf .

Quality Control

The planning, execution and monitoring of Tigray's quality control programs at the Harvest project are under the supervision of Jeff Heidema, P.Geo., Tigray's Vice President Exploration, and Dr. David Groves, Tigray's Director of Project Development. Mr. Heidema and Dr. Groves are Qualified Persons as defined by National Instrument 43-101.

Diamond drill core samples have undergone preliminary preparation at the Acme Laboratories facility in Ankara, Turkey, and are crushed to 80% passing 10 mesh, and pulverized to 85% passing 200 mesh. Analyses are conducted at Acme Laboratories in Vancouver, Canada, utilizing Aqua Regia digestion and ICP-ES. Precious metal analyses are conducted via Fire Assay Fusion with AA finish and gravimetric analyses for over limit samples. Blanks, and certified reference standards are inserted into the sample stream to monitor laboratory performance.

About Tigray

Tigray is a Canadian mineral exploration company focused on advancing early-stage mineral projects in Ethiopia. Tigray's key property is the 70%-owned Harvest polymetallic VMS exploration project, which covers 362 square kilometres in the Tigray region of Ethiopia, 600 kilometres north-northwest of the capital city of Addis Ababa. Tigray is well financed, with $8 million in cash and no debt. The Company's shares trade on the TSX Venture Exchange under the symbol TIG. ....http://www.marketwatch.com/story/tigray-drills-738-metres-of-38-copper-13-grams-per-tonne-gold-and-14-grams-per-tonne-silver-confirms-copper-gold-vms-discovery-at-harvest-project-in-ethiopia-2011-12-12?reflink=MW_news_stmp

abesha

December 15th, 2011, 04:24 PM

Nyota to Produce 3000kgs of Gold per annum in Ethiopia

Nyota Minerals Limited is set produce an estimated 3000 kilograms of gold annually from its project in Tulu Kapi, Ethiopia. The company has finalized its exploration phase and preliminary studies to commence production said Dr. Kebede Belete, Country Manager.

The preliminary study has shown gold deposits of 1.5 million ounces (45,500 kilograms) in the area according to Dr. Kebede. The company has applied for a mining license to extract 3000kgs of gold annually for a period of ten years.

The projected production for Nyota’s Tulu Kapi concession will match the annual output of MIDROC Gold, currently the only commercial gold producer in Ethiopia.

Nyota is licensed to conduct underground mining and open pit mining.

The company invested 270 million birr in the last fiscal year for exploration purposes. The exploration phase entailed high financial cost because of expenses associated with the import of machinery and expertise from the South African company, Geo-search International Drilling Company explains Dr. Kebede.

Nyota is engaged in further study to acquire financing. The study, know as a Bankable Definitive Feasibility Study began in September and is expected to be completed in June of next year.

It is to be remembered that Nyota announced completing its definitive feasibility study last month.

The company has developed the Tulu Kapi concession from zero to more than 1.5 million ounces through drilling an estimated 230 holes in two years according to the statement released by Nyota to its investors.http://www.2merkato.com/20111215675/nyota-to-produce-3000kgs-of-gold-in-ethiopia

So the mine will last only 10 years? That's disappointing. :dunno:

Anyway, seeing that its output will match MIDROC's, I'm assuming the gold exports will pretty much double.

abnet

December 16th, 2011, 02:58 AM

Nyota to Produce 3000kgs of Gold per annum in Ethiopia

http://www.2merkato.com/20111215675/nyota-to-produce-3000kgs-of-gold-in-ethiopia

So the mine will last only 10 years? That's disappointing. :dunno:

Anyway, seeing that its output will match MIDROC's, I'm assuming the gold exports will pretty much double.

Good news! that means they produce about 90,000 ounces and by current price of gold that is close to 145 million US dollars not bad for the company and to the country.

abesha

December 16th, 2011, 07:13 PM

Ethiopia says stay on mining licences is temporary

Dec 16 (Reuters) - Ethiopia's suspension in issuing new mining licences to foreign firms keen to tap a fledgling gold and base metals industry is only temporary, its mining minister said on Friday.

More than a hundred firms have been issued licences so far, but the Horn of Africa country put a stay on another 200 applications last month saying it needed time to "sort out" its mining sector.

The country is seeking time to strengthen its ability to regulate, administer and evaluate the companies already in the sector before they start letting new ones in.

"We will eventually (lift the suspension). We have no other intention because we believe that we have created a conducive environment for the private sector and it is the private sector that can be an engine for development with mutual benefit," Sinkenesh Ejigu told Reuters on the sidelines of an African Union mining conference in the Ethiopian capital Addis Ababa.

"It is a good indication for us because many investors are applying but our task is not only giving licences, we also have to administer," she told Reuters on Friday.

She did not say when the suspension would be lifted.

"We will also examine the performance (of existing companies) and what they have done with their licences while sorting out the profiles of new applicants," she said

Ethiopia is part of the so-called Arabian-Nubian Shield, which stretches from Saudi Arabia and Yemen to Sudan and Egypt, and is home to rich gold and base metal deposits, though much of the seam is mined unofficially, by small-scale prospectors.

Though still reliant on commodities such as coffee for revenue, Ethiopia is expected to earn around $500 million from mining exports in the financial year to next July, according to the ministry.

It has targeted doubling that in the next five years.

The only gold miner in production so far is Ethiopian-Saudi Midroc, but London-listed Nyota is set to follow.

Nyota's flagship project is Tulu Kapi, 500 km (310 miles) west of capital Addis Ababa, which has a total inferred resource of 1.2 million ounces of gold.

The number of companies seeking to venture into the Ethiopian market has shown a steady rise in the past few years.

"What I can say is many companies have reached advanced exploration stages. They have to do the development work that will take around two years by itself, and after three years we can say we may reach an advanced production stage," Sinkinesh said.http://www.reuters.com/article/2011/12/16/ethiopia-gold-idUSL6E7NG2GH20111216

yosef

December 19th, 2011, 09:43 PM

Ethiopian Potash Receives Additional High Grade Sylvite Assays

TORONTO, ONTARIO, Dec 15, 2011 (MARKETWIRE via COMTEX) -- Ethiopian Potash Corp. ("EPC" or the "Company") CA:FED 0.00% (otcqx:ETPHF) is pleased to announce that it has now received the assay results for holes 1 and 3, located in the Discovery Zone in the Southwest Corner of its Danakil Potash Project, Ethiopia.

David Wahl President and CEO stated, "We are in the unfortunate position of having to release excellent results into a soft market during tax-loss selling season, however hopefully investors can recognize the pattern of high grade sylvite (the only horizon that matters for our mining plan) over excellent widths, which should continue. With the rest of the drill results upcoming, Ethiopian Potash expects to issue a new 43-101 in the early part of Q1 2012, placing it in the exact same position as its Canadian listed peers operating in the Basin."

Hole No. Unit From (m) To (m) Interval (m) KCL%
DAL-003 Sylvite 125.00 130.90 5.90 34.39
including 125.00 126.50 1.50 36.66
including 128.40 130.90 2.50 40.56
Carnallite 130.90 142.50 11.60 6.70
Kainite 142.50 154.50 12.00 16.66
DAL-001 Sylvite 120.00 122.00 2.00 34.61
Carnallite 122.00 127.00 3.00 15.13
Kainite 127.00 132.00 12.50 0.96

About Ethiopian Potash Corp.

Ethiopian Potash Corp. CA:FED 0.00% is a Canadian company based in Toronto, Ontario, and Addis Ababa, Ethiopia. Ethiopian Potash controls 481 sq km of shallow mineralization potash development concessions in the fairway of the Danakil Depression, Ethiopia. The Company has an existing 128 mil tonne resource at 21% potash and is intent on aggressively fast-tracking its properties to production.

Source (http://www.marketwatch.com/story/ethiopian-potash-receives-additional-high-grade-sylvite-assays-2011-12-15-71570)

Ethiopian Potash website: http://ethiopianpotash.com/

yosef

December 19th, 2011, 09:46 PM

Delbi Coal to extract coal in Ethiopia

Delbi Coal Mining Share Company is set to extract 30,000 tonnes of coal in Ethiopia.

The company will be extracting coal from an open mining field in Jimma. Delbi plans to increase its production to 200,000 tonnes of coal in time. Delbi has extracted and sold an estimated 46,000 tonnes of coal since it began operating. The company has begun preparation for the mining project.

It is expected that sub-Bituminous bitumen coal will be produced through open mining. Delbi will also carry out exploration for other types of coal. Delbi has formed a conservation and safety department that will investigate the environmental impacts of its project to the ministry of mines.

The move to use coal has been welcomed by cement factories in Ethiopia, some of whom have been importing coal for their own use. The decision to replace coal for the heavy furnace oil used by cement factories is expected to reduce foreign exchange costs.

SteelGuru (http://www.steelguru.com/raw_material_news/Delbi_Coal_to_extract_coal_in_Ethiopia/240532.html)

Delbi to extract 30 thousand tons of coal
Delbi Coal Mining Share Company, the only commercial producer of coal in Ethiopia, plans to extract up to 30 thousand tons from now through February 8, 2012 at an open pit mining field in Delbi area of Dedo Woreda in Jimma zone, about 400Km south west of Addis Ababa.

Preparation for the mining project is already underway, since the company purchased 39.2sqm of land for mineral exploration in May 2008. The open pit mining will extract Sub-Bituminous Bitumen coal. They are also looking at other potential types of coal that could be obtained by mining underground.

According to the source, the company currently produces 4000 K Cal/Kg of crude (raw) coal but has plans in the future to refine it and go as far as 5000 K Cal/Kg and above. Even though mining has short term consequences for the environment, the company has formed a conservation and safety section to study the impacts and report the effects to the Environment and Community Development unit at the Ministry of Mines.

Delbi Coal Mining has 55 employees out of which 22 are permanent. It supplies its coal to textile factories like Turkish owned Ayka Addis. Cement factories like Mesebo and Hung Shen in Modjo city. It also supplies to Tabor Ceramics Company and Ethio Bricks Company. There are currently 17 foreign and local companies engaged in the exploration and surveying of coal in Ethiopia, although Delbi is the only one so far that has begun producing coal commercially.

[....]

According to the feasibility study undertaken by the China National Complete Plant Import and Export Corporation, COMPLANT, at a cost of 12 million birr, it is estimated that there exists over 100 million tons of coal in the Yayu area and this potential reserve can provide 300,000 tons of Urea, 20,000 tons of ethanol and 90MW of electric power annually. This would cost close to 730 million dollars based on the study period, which was 2008.

According to sources at the corporation, Delbi Coal Mining Share Company was formed initially as a Private Limited Company with 100 thousand birr capital and has since changed into a Share Company and its capital reached about 60 million birr.

It currently has six individual and company shareholders with Messebo Cement Factory being the largest. Ezana mining PLC and Oromia Agro-Processing and Industrial Group are the corporate shareholders.

read the rest @ CapitalEthiopia (http://www.capitalethiopia.com/index.php?option=com_content&view=article&id=95:delbi-to-extract-30-thousand-tons-of-coal-&catid=54:news&Itemid=27)

abesha

December 26th, 2011, 07:01 PM

Brazilian giant, Vale, starts mining exploration

Brazilian mining giant Vale has entered the Ethiopian mining sector with a general exploration license in the Konso area of Southern Nation and Nationalities People’s Regional State (SNNPRS). Vale established its exploration site on a 190 square kilometer area.

Marcelo A. Borges first secretary and deputy mission at the Brazilian Embassy in Ethiopia told Capital that the company, which obtained its exploration license in late September, is the biggest Brazilian mining company and the second biggest in the world after the Australian mining firm bhp billiton.

Marcelo said Vale mainly aims to explore and extract gold but will also look for other minerals that could be commercially viable such as iron ore.

Ethiopia, last year earned about 485 million dollars from exporting 11 tons of gold.
This is the first Brazilian company to invest in Ethiopia although another Brazilian company, Tramontina exports household goods, tools, electric materials, and kitchen equipment to Ethiopia.

Vale mines throughout the world. In Africa it operates in Mozambique, Angola, Democratic Republic of Congo (DRC), Gabon, Guinea, Liberia, Malawi, South Africa and in the copper belt region of Zambia.http://capitalethiopia.com/index.php?option=com_content&view=article&id=210:brazilian-giant-vale-starts-mining-exploration-&catid=54:news&Itemid=27

peace11

January 3rd, 2012, 12:00 AM

National Mining Corporation Hits Jackpot

After 15 years of exploration and spending 79 million Br, senior managers at National Mining Corporation (NMiC) announced, last week, the discovery of the largest gold reserves ever discovered, in Oromia and Tigray regional states.

The two regions are where the nation’s largest gold reserves were long-believed to be located, according to geological data from the Ministry of Mines (MoM). NMiC is one among several mining companies that the Ministry has granted concession rights to, such as Nyota Minerals (Ethiopia) Ltd and Sheba Exploration Ltd.

The latest discovery will give NMiC the competitive edge in the mining industry, when it begins exploiting the 568,000kg gold reserves found in Dawa, Oromia, and Werri, Tigray, company officials disclosed. When it starts production, the Corporation will operate the largest goldmine in Ethiopia, with the capacity to produce 6,000kg of gold from both areas, almost doubling the volume that MIDROC Gold currently produces. :cheers:The latter exported 3.5tn of gold during the last Ethiopian fiscal year, covering nearly 31.5pc of the 485.3 million dollars in revenues that the country has generated from the export of the precious metal.

Established in 1993 with a registered capital of 43 million Br, NMiC is owned by Mohammed Hussein Ali Al-Amoudi and, formerly, his brother Hassen Hussein Ali Al-Amoudi. The company launched its operations two years after its incorporation with a Russian trained mining engineer, Melaku Beza, as its founding chief executive officer (CEO). Acquiring the Awash Marble Factory from the state in 1993, which has an annual capacity of 300,000tn of marble, limestone, and granite, NMiC took concession of the Lege Dembi goldmine, in Odo Shakiso, Borena Zone, Oromia Regional State, for 172 million dollars.

An agreement signed with the now-defunct Ethiopian Privatisation Agency required it to set up a separate company to run the operations at this site. This has subsequently led to the incorporation of MIDROC Gold, now under the management of MIDROC Industrial Group, run by Arega Yirdaw (PhD).

NMiC, nonetheless secured concession rights to explore for gold and base metals in a 472sqkm area in Dawa, an area within the same area but a few kilometres from Shakiso. The company has had exploration rights over three sites – Werqi Amba, Werqi Tabi, and Chemit – in the Abi Adi area of Tigray, 130km west of Mekelle. The mining firm covers a total of 1,637sqkm, although its intensive explorations have only been conducted on about 300sqkm.

A preliminary economic assessment (PEA) conducted by Venmyn, a South African-based consulting firm, shows that the Corporation can start production with 80,706kg of gold in the Dawa area, which is estimated to have reserves of 550,000kg of gold for 20 years.

Three experts, hired by the consulting firm, in economics, geology, and metallurgy were in Ethiopia and visited the discovery areas two months ago, Abera Degefa, deputy manager of NMiC, disclosed to Fortune, declining to disclose the amount paid to the consultant.

Managers of NMiC project plan to start production in three years and hope to generate total revenue of four billion dollars within 20 years of exploitation, according to the PEA report. It also projects to make a total profit of 84.8 million dollars from gold and silver mined at Werri, within nine years.

NMiC, which is known for its marble exports to Middle Eastern and European countries, will have to make an investment of 326.4 million dollars, of which 121.5 million dollars will go to the Dawa project, according to experts from the South African consulting firm.

“The results of the consultants have exceeded the management’s expectations and make the project profitable with the lowest capital expenditure,” Melaku said on Thursday, December 29, 2011, at Sheraton Addis.

The Corporation will also float a public tender to hire a firm that will conduct an environmental impact assessment on the project areas before exploitations begin, Melaku disclosed.

The federal government is projected to collect a total of 17.6 billion dollars in the form of corporate tax and royalties during the total 29-year concession period from the two sites, according to the feasibility studies conducted by the South African firm.

The MoM has collected a total of 104.4 million Br in royalties from 26 companies in the last fiscal year, out of which MIDROC Gold has paid the most, amounting to 100.1 million Br.

The Ministry, however, has now ceased to issue new exploration licences.

NMiC has also discovered a total of 1.9 million kilograms of silver as well as 50.4 million kilograms and 42.4 million kilograms of lead and zinc base metals, respectively, in the Warri area.

http://www.addisfortune.com/National%20Mining%20Corporation%20Hits%20Jackpot.htm

abnet

January 6th, 2012, 05:42 PM

^^ That is a whopping 18,263,666 Troy ounce and with today's price of gold at 1621 US Dollars its more than 29 billion Dollars worth find :banana: Man they really hit the jackpot !
Looks like Ethiopia's future is going to depend on Gold and Potash :cheers:
Another top quality Gold find in Afar Region

Afar gold sparkles interest
By Elias Gebreselassie
Monday, 02 January 2012 12:03

Stratex International Private Limited Company, the (Alternative Investment Market) of the London stock exchange -quoted exploration and Development Company, reported that it had found significant gold deposits from drilling at its Megenta hot spring epithermal gold discovery in the Afar region of Ethiopia, which is a joint venture with Thani Ashanti Company, as well as new high grade samples from the nearby Akehil gold prospect.
Both the Megenta and Akehil prospects are located within the Company’s Tendaho Exclusive Exploration Licence (‘EEL’) in the Afar region of Ethiopia. The discovery confirmed that high grades of gold are present in the two locations in Afar.
David J. Hall, Stratex’s Executive Director of East Africa commented that, “This new discovery continues to yield significant results indicating that Megenta is a large and exciting new gold system”.
He also said equally significant was the presence of high grade samples of gold found at the Akehil gold prospect only 9 Km from Megenta.
The company believes that bonanza grades of gold are present in epithermal veins that are within the Afar depression, and along with the evidence from the Blackrock discovery 250 Km to the north, it underpins the prospective nature of the area where the company has a substantial license holding.
Stratex discovered the Megenta hot spring gold system in October 2009. The Company has undertaken detailed geological and structural mapping, along with channel-chip rock sampling.
Stratex and Thani Ashanti have previously signed a binding Heads of Agreement with respect to five license blocks that comprise the Tendaho EEL in the Afar Depression of Ethiopia and six EEL’s in the Republic of Djibouti (collectively ‘the Afar Project’).
Under the terms of the Agreement, Thani Ashanti can acquire 51percent of the Afar Project by expending a total of US$3 million on exploration and development over two years. Thani Ashanti is expected to expend 1 million USD in one year which also includes a 3,000 meter drill program to test the Megenta prospect in Ethiopia. Subsequently Thani Ashanti must expend a further US$2 million in the second year to earn 51percent in the project.
The company’s East African branch Stratex East Africa (‘SEA’) holds all of its east African assets which are found in Ethiopia and Djibouti , including the Afar Project, Shehagne project, Abi Adi projects located in Tigray regional state ,and any new Stratex projects started in that region.
Thani Ashanti has acquired 5 percent of SEA (and thereby 5percent of all Stratex’s current East African interests) having expended 50percent of its first year commitment of US$1 million.
The company is currently also engaged in A joint venture with Sheba Exploration Company (U.K.) to earn in to an initial 60 percent of the prospective 37 sq km Shehagne gold project in northern Ethiopia, and explore targets in other northern Ethiopia areas on a 70:30 joint venture basis.
It has also taken licenses in Berahale and Gademsa EELs covering a combined area of 1,225 sq km in northern and central Ethiopia respectively and is prospective areas for gold and base metals.
It currently has 3,853Square Kilometers of land position over new epithermal gold discovery and multiple related gold targets in the Afar Depression of eastern Ethiopia and Djibouti.
The company has also recently Acquired 49.9 percent Shareholding in Rift Resources Plc to Provide Exposure to Ethiopian Potash and prospect for the commodity in the Afar region of Ethiopia and is currently engaged in a 500 sq km potash and associated minerals exploration licence in the prospective Afar region of Ethiopia – with the license to be assigned to the newly-formed company Rift Resources.
Stratex International plc is an AIM-quoted exploration and development company focused on gold and base metals in Turkey and East Africa as well as recently in the West African Country of Senegal.

http://www.capitalethiopia.com/index.php?option=com_content&view=article&id=260:afar-gold-sparkles-interest-&catid=54:news&Itemid=27

abesha

January 6th, 2012, 05:44 PM

So we're finally going to have a significant mining industry. About time!

abnet

January 11th, 2012, 06:15 PM

^^ Indeed.
Southwest company which owned by Ethiopians is determined to find a Billion barrel oil in Gambela region :cheers:

ሳውዝዌስት በጋምቤላ አንድ ቢሊዮን በርሜል ነዳጅ ለማግኘት አቅዷል

Wednesday, 11 January 2012 09:19
By Kaleyesus Bekele

“እኛ የምናምነው በጋምቤላ ክልል ነዳጅ እንዳለ ነው” ወ/ሮ ስንቅነሽ እጅጉ፣ የማዕድን ሚኒስትር

በጋምቤላ ክልላዊ መንግሥት የነዳጅ ፍለጋ ሥራ ለማካሄድ ከትናንት በስቲያ ከማዕድን ሚኒስቴር ጋር የነዳጅ ፍለጋና ልማት ስምምነት የተፈራረመው ሳውዝዌስት ኢነርጂ የተሰኘው ኢትዮጵያዊ ኩባንያ፣ በክልሉ አንድ ቢሊዮን በርሜል የሚደርስ ድፍድፍ ነዳጅ ለማግኘት እንደሚሠራ አስታወቀ፡፡

በፊርማው ሥነ ሥርዓት ላይ ንግግር ያደረጉት የሳውዝ ዌስት ኢነርጂ መሥራችና ዋና ሥራ አስፈጻሚ አቶ ቴዎድሮስ አሸናፊ፣ የነዳጅ ፍለጋ ሥራው የሚካሄደው ከደቡብ ሱዳን የነዳጅ መሬት በቅርብ ርቀት ላይ እንደሆነ ገልጸው፣ በደቡብ ሱዳን ውስጥ የጋምቤላ ቤዚን አዋሳኝ በሆነ ቦታ በጣም በቅርብ ርቀት 900 ሚሊዮን በርሜል ድፍድፍ ነዳጅ ይገኛል ብለዋል፡፡ ኩባንያቸው በጋምቤላ ቤዚን ውስጥ አንድ ቢሊዮን በርሜል ነዳጅ ለማግኘት ተግቶ እንደሚሠራም ገልጸዋል፡፡

“የፔትሮሊየምን ታሪክ መለስ ብለን ስንመለከት የመጀመርያው ጉድጓድ የተቆፈረው እ.ኤ.አ. በ1859 በአሜሪካ ነበር፤” ያሉት አቶ ቴዎድሮስ፣ ብዙ ጊዜ አገሮች ነዳጅ የሚያገኙት በራሳቸው ዜጐች አይደለም ብለዋል፡፡ “መጀመርያ በኖርዌይ ነዳጅ ያገኙት ኖርዌጂያን አይደሉም፡፡ በሩሲያም መጀመርያ ነዳጅ ያገኙት ሩሲያውያን አይደሉም፡፡ በናይጄሪያም ናጄሪያውያን አይደሉም፡፡ በኡጋንዳም ኡጋንዳዊያን አይደሉም፡፡ እኛ የምንሠራው ለመጀመርያ ጊዜ ኢትዮጵያ ውስጥ ነዳጅ በኢትዮጵያውያን ተገኘ የሚለውን ዜና ለማብሰር ነው፤” ብለዋል፡፡ አቶ ቴዎድሮስ ነዳጁ እንደሚገኝ እምነታቸውን ገልጸው፣ ‹‹በተገኘ ጊዜ ግን ኢትዮጵያውያን ሎተሪ እንደተገኘ ቆጥረን ሥራ የምናቆምበት ጊዜ ሳይሆን የበለጠ ተግተን የምንሠራበት ወቅት ይሆናል፤›› ብለዋል፡፡

“የነዳጅ ፍለጋ ሥራ ከባድ ነው፡፡ ብዙ ወጪ የሚጠይቅ ነው፡፡ እኛ ግን ሥራውን እንደ አገር ጉዳይ ነው የያዝነው፤” ብለዋል፡፡ ሳውዝዌስት በኦጋዴን ደገሀቡርና በጅማ ዙርያ የነዳጅ ፍለጋ ሥራዎች ሲያካሂድ የቆየ ኩባንያ ሲሆን፣ እስካሁን ለእነዚህ ሥራዎች 40 ሚሊዮን ዶላር ወጪ ማድረጉን የገለጹት አቶ ቴዎድሮስ፣ በጋምቤላ ለሚካሄደው ሥራ በመጪዎቹ አምስት ዓመታት 50 ሚሊዮን ዶላር ወጪ እንደሚደረግ ተናግረዋል፡፡

የማዕድን ሚኒስትሯ ወ/ሮ ስንቅነሽ እጅጉ ሳውዝዌስት ኢነርጂ ቀደም ሲል በወሰዳቸው የነዳጅ ፍለጋ ቦታዎች ሥራውን በአግባቡ ሲያካሂድ የቆየ ኩባንያ እንደሆነ ገልጸው፣ ለሥራው የሚያስፈልገውን ድጋፍ ሚኒስቴሩ እንደሚያደርግለት አስታውቀዋል፡፡ “ቀደም ሲል በጋምቤላ ፔትሮናስ የተሰኘው የማሌዥያ ኩባንያ የነዳጅ ፍለጋ ሥራ ሲያካሂድ ቆይቷል፡፡ ፔትሮናስ በርካታ ዳታዎችን ሰብስቧል፡፡ ሁለት ጉድጓድ የቆፈረ ቢሆንም አልተሳካለትም፡፡ አንድ ኩባንያ አልተሳካለትም ማለት በክልሉ ነዳጅ የለም ማለት አይደለም፡፡ እኛ የምናምነው በጋምቤላ ክልል ነዳጅ እንዳለ ነው፤” ያሉት ወ/ሮ ስንቅነሽ፣ በአንድና በሁለት ጉድጓዶች ነዳጅ አለ የለም ብሎ መደምደም እንደማይቻል ጠቅሰው፣ ቀጣይ ሥራ በስፋት መሠራት እንዳለበት አስገንዝበዋል፡፡

“አንድ ኩባንያ ገብቶ ሲወጣ የሚታየው የኩባንያው መውጣት ብቻ ነው፡፡ ኩባንያው ምን ያህል ሥራ ሠርቶ፣ ምን ያህል መረጃ ሰብስቦ፣ ምን ያህል እሴት ለቦታው ጨምሮ እንደወጣ የምናውቀው እኛ ብቻ ነን፤” ብለዋል፡፡

ሳውዝዌስት የተረከበው የጋምቤላ ቤዚን 15,356 ካሬ ኪሎ ሜትር ስፋት አለው፡፡ የፈቃድ ዘመንን በተመለከተ የመጀመርያው የፍለጋ ዘመን አራት ዓመት ሲሆን፣ ሁለት ጊዜ ለሁለት ዓመታት እንደ አስፈላጊነቱ የሚታደስ ይሆናል፡፡ ያልተጠናቀቁ የጉድጓድ ሥራዎችን ኩባንያው በቂ ምክንያት ሲያቀርብ ከስድስት ወራት ላልበለጠ ጊዜ እንደሚራዘም፣ እንዲሁም የነዳጅ ክምችት የተገኘ እንደሆነ የነዳጅ ክምችቱን ለማጥናት ለ12 ወራት ማራዘም ይቻላል፡፡ የልማትና የምርት ዘመን 25 ዓመት ሆኖ እንዳስፈላጊነቱ ለተጨማሪ 10 ዓመታት የሚታደስ እንደሆነ የማዕድን ሚኒስቴር አስታውቋል፡፡

http://www.ethiopianreporter.com/news/293-news/4794-2012-01-11-06-20-37.html

Kata-2

January 12th, 2012, 10:19 AM

^^^
SouthWest is another TPLF owned worthless company created under effort a few years ago. What I don't understand is it was registered in HongKong :bash::bash: TPLFist goons really know how to do business. Though, a harvard? educated Tigre was in charge ...

abesha

January 16th, 2012, 07:36 PM

Licensing For Mineral Exploration to Resume in Ethiopia

The Ministry of Mines, Ethiopia, is to resume licensing for mineral exploration. The ministry is expected to begin accepting new applications for licensing in mineral exploration next month according to Sinkenesh Ejigu Ethiopian Minister of Mines.

It is to be remembered that the ministry halted the issue of new licensing in mineral exploration to evaluate operators already in the sector before issuing new permits.
There were an estimated 200 applications for new licenses waiting to be processed when Ethiopia enacted the suspension to gain time to sort out issues with the mining sector.

The ministry planned to clarify which companies are active according to the agreements they entered upon receiving licensing and which have failed to commence operation according to Tolossa Shagi Moti State Minister of Mines.

The Ethiopian mines ministry is happy that a large number of foreign corporations are interested in the mining sector however the ministry’s ability to process licenses applications and monitor existing activities is hampered by the lose of senior geologists according to Tolossa.

The Ethiopian ministry has granted an estimated 200 minerals exploration licenses to above 100 local and international companies. Amongst these are well known mining corporations such as Vale and BHP.

The entrance of such companies has been a mixed blessing in that many qualified professionals have left the ministry to find employment with them it is said.http://www.2merkato.com/20120116786/licensing-for-mineral-exploration-to-resume-in-ethiopia

abnet

January 21st, 2012, 04:41 PM

BGP collects encouraging oil data in omo valley :banana:

Saturday, 21 January 2012 07:12
By KALEYESUS BEKELE

http://www.thereporterethiopia.com/images/stories/webpix/802/Bgp.jpg
BGP's seismic vessels

BGP Geo Services Plc, the Chinese petroleum company that is engaged in oil exploration project in the South Omo Valley, has collected encouraging data from the exploration area near Omorate, a town 800km south-west of Addis Ababa.

BGP was hired by Tullow Oil, the British oil company, a year ago to undertake a seismic survey in South Omo near the Kenyan border. BGP is a company that specialises in collecting seismic data. The company has a good reputation in various countries in similar projects including Saudi Arabia, Oman and Venezuela.

Reliable sources at the Ministry of Mines told The Reporter that BGP has submitted a commendable seismic data report to the ministry and its client Tullow. “The seismic data indicated the presence of some oil,” sources said. The company would continue collecting seismic data during the coming two months. After the data are interpreted, experts would decide where to drill the first exploration wells. So far no exploration well was drilled in South Omo.

BGP is one of the world's leading geophysical service companies, delivering a wide range of technologies, services and equipment to the oil and gas industry worldwide, according to the company’s official website. “We are engaged in seismic data acquisition, processing, interpretation, reservoir geophysics, borehole seismic, micro-seismic, GME and multi-client surveys, equipment manufacturing and software R&D. Since the 1960s, BGP has been providing geophysical services for many energy companies at home and abroad. “Our experienced and capable employees have operated under all hostile terrain conditions,” the website reads.

At present, BGP has 65 land crews and 6 seismic vessels operating overseas. Fifty overseas branches and offices have been established in Asia, America, Africa and the Middle East.

Tullow bought a 50 percent stake in the south Omo Valley from Africa Oil. The Vancouver-based company, Africa Oil, acquired the south Omo Valley concession from White Nile, the British oil company. White Nile is a UK-based company in which the South Sudan government has a minority stake. White Nile, which has been prospecting for oil in South Omo Valley since 2005, farmed out the concession to Africa Oil.

In 2010, the Canadian company, Africa Oil, sold a 50 percent stake in its interest in the South Omo Valley. Dr. Ketsela Tadesse, mining licensing and administration core process owner with the Ministry of Mines, earlier told The Reporter that Tullow, in partnership with Africa Oil, hase been undertaking a commendable work. Tullow has discovered a huge oil reserve in the Albert basin in Uganda.

http://www.thereporterethiopia.com/News/bgp-collects-encouraging-oil-data-in-omo-valley.html