An American Mining giant named Newmont Mining Corporation, which is regarded as one of the world’s largest producers of gold is to engage in gold exploration and extraction projects in Tigray Regional State of Ethiopia.

Tolosa Shagi, Minister of Mines, Petroleum and Natural Gas (MoMPNG), told The Reporter the firm is finalizing preparations to engage in gold exploration and development projects in two concessions in Tigray State.

The Corporation was established in 1916 by William Boyce Thompson as a diversified company. It is now headquartered in Greenwood Village, Colorado with active mines in Nevada, Indonesia, Australia, New Zealand, Ghana and Peru. It has also many joint venture relationships.

The entrance of the mining company in Ethiopia is expected to make it easier for other companies to join the sector.

MIDROC Gold, KEFI Minerals and Ascom are some of the companies that are engaged in gold exploration in Ethiopia.

Source: The Reporter