Investors have expressed in partnering with Nyota Minerals in efforts to develop its gold concession in Ethiopia. The interest 
expressed by financiers increases the company’s confidence in the project announced Nyota.
Nyota is in the process of finalizing plans to develop a 250 million US dollar mine Ethiopia and is seeking to raise funds through a combination of equity and credit.
The company has considered selling a stake in the project as one option for financing according to Richard Chase, Chief Executive for Nyota. The company has been approached by several investors interested in a acquiring a stake in the project expected to be the second gold mine in the country he said.
Amongst the investors who have expressed interest in partnering with Nyota are to be found Chinese investors said Chase. Chinese companies, seeking to meet the ever increasing demand for gold bars and jewelry from domestic investors looking for value investment, have made several investments in gold mines recently.Interest from credit sources is also strong as recent investment in Ethiopia by noteworthy investors such as Diageo, who acquired a brewery in Ethiopia this year, means that the country is no longer unknown terrain he added.
Nyota noted that negotiations with Ethiopia in regards to the granting of a mining license are proceeding well in spite of the delay experienced from the original September deadline due to the death of country’s premier in August.
Source: Reuters
