2merkato

Nyota Minerals has 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.

The results will help upgrade the Tulu Kapi resource according Richard Chase Chief Executive Officer of Nyota. A more significant impact of the results will be proving even further the existence of significant extensions to the main Tulu Kapi ore body he said.

Ethiopia has obtained more than 500 million US dollars from mineral exports in the last fiscal year said Sinknesh Ejigu Minister of Mines this week.  

The Mining sector is making valuable contributions towards national development goals according to Sinknesh. The mining industry is a significant source of foreign currency even though it is not yet well developed she said.

The Minister discussed the opportunities available in the mining sector at a meeting with 80 companies engaged in mining. The meeting aimed to facilitate the exchange of current information amongst investors involved in mineral extraction. This in turn is expected to create a forum for sharing experience in regards to best practices and issues encounter.

The first phase of a project to produce up to date and comprehensive data on the energy sector was completed and submitted to the Ministry of Water and Energy on Wednesday. The study was carried out at a cost of 4.3 million birr.

The project known as the ‘Energy Sector Mapping and Database Development (ESMAD) was initiated by the MoWE and financed by GiZ. The study was carried out by Professional Consulting on Energy and Development in collaboration with eight other private consultants.

It took 16 months to complete the first phase which included the development of GIS enabled, web based energy database. The database allows various energy maps to be produced on the basis of data collected on the supply of electricity, renewable energy biomass and hydrocarbons.

Artisan miners sold 109.5 million US dollars worth of gold to the National bank. The 2,064 Kg of gold sold by the miners was 52% more than the 1,357 kg the central bank expected to collect the first quarter.

Artisan miners increased production because of increases in the international market and the National Bank’s offer of 5% on the price, according to Tamrat Mojo, head of traditional mines, manufacturing & transactions department at the MoM.