Samples from the drill core are being processed for analysis.

Ethiopian Potash Corp announced yesterday that it had completed drilling five holes with total drilling through 1,000 metres to date of the planned 15,000 metre diamond drill programme on its 481km² Danakil Project, in Ethiopia.

The holes were drilled along the western edge of the Danakil and targeted the on strike continuation of the Musley potash deposit. All of the holes intersected the regional Danakil Potash Formation and potash mineralization.

The Ethiopian Petroleum Enterprise (EPE) is going to import coal from South Africa to secure sustainable supply of coal as an alternative source of energy for cement factories.

The move follows the unsuccessful bid by the Ethiopian government to acquire pet coke for cement factories.

All 12 cement factories have the infrastructure for using coal while Mugher and East are expected to finish installing infrastructure to use coal power sources by 2013.

Delegates of General Electric, the American multinational corporation, are scheduled to arrive here next week for the purpose of holding talks with the Ethiopian Electric and Power Corporation (EEPCo) on renewable energy investment projects in Ethiopia, Mekuria Lemma, Corporate Planning Head of EEPCo, said.

According to Meheret Debebe, CEO of EEPCo, General Electric has already expressed interest in investing in Ethiopia in the renewable energy sector.

Stratex International, the AIM-listed gold miner, saw shares shoot up today following its announcement of "significant results" from drilling at its Megenta hot spring gold discovery in Ethiopia.

The company said that it had found new high grade samples at the nearby Akehil gold prospect.

Stratex International, along with its partner Thani Ashanti, said the latest drilling data confirmed bonanza grades were present in epithermal veins in the region and in response its shares jumped 12 percent higher.