ASCOM Mining Plc is holding talks with Ethiopia’s Ministry of Mines in order to secure a large scale gold mining license.

ASCOM is a multinational mining company and it has been involved in exploring for gold in western Ethiopia. Since 2009, it has been working in Benishangul Gumuz State, Assosa Zone, Sherkole Wereda, Shungu and Nazali localities since 2009.

The firm has made a discovery of large amount of primary gold in the license area covering 268.17 square meters of land in a mountain commonly known as Dish Mountain.

It was in March 2014 ASCOM’s experts made presentation about the gold discovery to officials from Ministry of Mines.

Once the current negotiations have been concluded, the company will be given a large scale gold mining license.

According to The Reporter, it was in November 20, 2008 ASCOM secured a gold and base metals exploration license after Ariab Gold Mining Plc, Sudanese and Ethiopian JV Company, transferred it to the earlier.

Shareholders of ASCOM Mining Ethiopia Plc are ASCOM Precious Metals BVI, holding 96 percent of the company, and Ariab Gold Mining Plc, owning the rest 4 percent.

Shareholders have different nationality and are from Sudan, Egypt, the Middle East and other North African countries.

In addition to the Benshangul Gumuz site, ASCOM has another exploration license in Ethiopia, Gambela State.

Thus far the only company engaged in large scale gold mining in Ethiopia is MIDROC Gold. Nonetheless, two years ago in 2012 another firm, Ezana Mining Plc, secured a large scale gold mining license from the Ministry of Mines.

Source: The Reporter