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Israel Chemicals Ltd (ICL), the Israel fertilizer giant investing in the Afar Potash mine is planning to construct three factories in Ethiopia, according to The Reporter.

Israel Chemicals (ICL) said on Friday, March 28, 2015, it had made 137 million Canadian dollars (109.5 million USD) offer to buy Canada’s Allana Potash, a deal it hopes will expedite development of mine in Ethiopia.

The Ethiopian Ministry of Mines is scraping its plan to ban rough gem exports and export ban on raw tantalum, in order to increase the export volume of mineral resources, Fortune reported.

The Ministry has also raised its revenue projection for 2013/14 fiscal year to one billion dollar, from the initial target of US$777 million. In January 2013, the Ministry announced its intention to ban rough gem exports at the start of the new fiscal year. This was because of the considerably higher price a value-added stone would fetch when compared with the rough cut.

The Ethiopian Electric Power Corporation Board has approved the launching of the first phase of the Aysha I wind farm project in the Somali Regional State, according to information obtained from the Ethiopian Ministry of Foreign Affairs website.

Construction of the project, split into three phases, will begin soon. The first phase will be carried out by the Chinese Company, Dongfang Wind, and is expected to produce 120MW of energy when completed. Add a comment Add a comment