Energy and Mining

Traditional Gold Miners Supply 211kg to NBE

Traditional artisan miners, in Benchimaji Zone, raised more than 177.2 million birr in revenue from the supply of more than 211 kilograms of gold to the National Bank of Ethiopia in the last quarter according to regional authorities.

The gold supplied to the central bank was mined Anjo, Gebisa Shola, Siali and Gesena in the Berona and Surma Woredas according to Tessema Shari, Department Expert of the Zonal Water and Energy Department of the region.

The revenue raised was 47.2 million birr higher than that raised in the previous year he noted. The increase in revenue was due to the technical support provided for miners and the legalization of the mining activities of traditional miners as well as other factors he noted.

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Ethiopia to Approve Nyota License

Ethiopia is ready to approve a mining license for Nyota Minerals Ltd to allow it to develop the Tulu Kapi gold concession that it had been in the process of exploring according to Sinknesh Ejigu, Minister of Mines.

The ministry has agreed with the company on the technical and environment terms of the arrangement and is in the process of finalizing the economical aspects said Sinknesh. It is expected that Nyota will obtain the mining license at the end of the negotiations she said.

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Ashegoda to be Completed in 2013

The Ashegoda Wind Farm will be completed by the middle of 2013 announced the Vergnet Groupe, the French company handling the construction of the first Ethiopian wind farm.

The project expected to produce 120 Mega Watts when completed is primarily being financed largely by the French Development Agency and French financier BNP Paribas. It is estimated that the project will cost 200 million Euros up to completion.

It is to be remembered that Vergnet secured the Engineering Procurement Commissioning contract for the Ashegoda project from the Ethiopian Electric Power Corporation four years ago.

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PetroTrans to Seek Arbitration in Ethiopian Dispute

Petrotrans, the Honk Kong based petroleum company is seeking arbitration for the termination of its gas fields development project by the Ethiopian Ministry of Mines according to sources.

The company is in the process of preparing for a legal suit at the International Arbitration Court in Geneva said the sources.

It is to be remembered that the Ministry of Mines revoked the development agreement signed with the agreement last July claiming that it had failed to execute the project according to the agreed upon schedule.

The company had been unable to initiate actual exploratory activities thus breaching its agreement with the Ethiopian government according to the termination notice sent by Sinkenesh Ejigu, Minister of Mines.

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Tullow Drilling Crew Preparing for Arrival

The Ethiopian Ministry of Mines is in the process of facilitating visas for the Tullow drilling crew that will oversee the launch of drilling processes by the company in January. The crew is expected to be composed of 20 primarily Polish experts.

Tullow is preparing to launch drilling activity on its concession in the Southern Omo Valley according to its tentative program said Sinkensh Ejigu, State Minister for Mines.

The schedule set for drilling may be changed if the visa processes prove to take longer than expected she said.

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