Energy and Mining

Ezana To Set Up $17.8 million Gold Plant

Ezana Mining Development plc is to build a 17.8 million US dollar gold plant in Tigray Region of Ethiopia. The new mine is expected to contribute to increasing the national revenue from the export of minerals. The mining development awarded the turnkey contract for the project Manhattan Corporation.

The South African mining services provider will build a carbon-in-leach (CIL) gold plant in Northern Tigray. Ezana selected the contractor from four international companies who had responded to the tender it put out. According to the agreement signed between Ezana and the contractor its tasks will include design engineering, procurement, shipment, construction, installation, implementation and after-sales skills development. Add a comment Add a comment

Ethiopian Gold Results Drive Up Alecto Shares

Alecto Minerals shares advanced by more than 11% in early deals today as it released some of the findings from its first exploration program on its Wayu Boda gold concession in Ethiopia.

The exploration work comprised of geophysics, trenching, and geological mapping was focused on three areas that had been a focus of artisanal mining in the past. The miner took a total of 853 samples from 14 trenches. The highlight trenching results included intervals ranging from 1.3 meters to 14 meters with grades of 1.1 grams per ton (g/t) to 4.9 g/t.

It is to be remembered that Alecto reported initial sampling results which included grades of up to 47.4 grams per tonne gold last month.

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Tullow to Announce Geological Test Results in Three Months

Tullow Oil plc, is to announce the results it obtains from the geological test drills launched earlier this month on its Ethiopian concession, in South Omo.

The company anticipates drilling up to a depth of 2,600 meters to test for oil potential, after which it will make the final decision as to whether it will continue drilling or not according to an official with the British oil and gas explorer.

Tullow intends to dig twelve more holes to better estimate the quantity of oil that could be extracted, should it obtain positive results from its initial drilling activity. Add a comment Add a comment

Artisan Gold Production Lower than Projections

Gold produced by traditional artisan gold miners in Ethiopia has been below projection for the last two quarters according to sources.

A estimated 2 thousand traditional miners in the five gold producing regions of the country have only been able to supply 4,325 kilograms of gold to the National Bank of Ethiopia so far this fiscal year said the sources.

The amount supplied is 34.4 percent lower than what had been anticipated it was noted. The production rate is however still higher than the 3,809 kilograms that was produced by artisan miners in the previous financial year. Add a comment Add a comment

Tullow Oil Drilling in Ethiopia

Tullow Oil has begun drilling work on its concession in South Omo, Ethiopia. The British oil exploration is drilling its first well following eighteen month long seismic tests an area over 18 thousand kilometers square. The company began drilling last week on the bloc named after a local bird ‘Sabisa’.

The explorer has hired a drilling company, and all the drilling machines and other required machines have arrived at the drilling location according to sources.

It is to be remembered that the Ethiopian Ministry of Mines announced that it was in the process of facilitating visas for a Tullow drilling crew that will oversee the launch of drilling processes in October. Add a comment Add a comment