2merkato

Ethiopia is in the process of finalizing preparations to offer 24 hour power supply for manufacturing industries in Addis Ababa said Miheret Debebe, Chief Executive of the Ethiopian Electric Power Corporation.

The country currently has the installed potential to produce almost 3000 MW of electricity of which more than 40% is allocated to the industrial sector and 30% goes to the service sector it was said at a consultative deliberation held between representatives of major industries and experts from the Ministry of Water and Energy and the Ethiopian Electric Power Corporation.

Nyota Minerals has launched a 14650 m infill drilling program at its Tulu Kapi gold project in Ethiopia. The program is part of the definitive feasibility study it was said.

The project initiated in collaboration with Wardell Armstrong International is intended to convert an additional 260 thousand oz of Inferred resources to Indicated status before the end of the fourth quarter of the current financial year.

The program is expected to help the definitive feasibility study and confirm the mine's ability to perform for at least ten years.

Tullow Oil, a UK company, is set to start drilling its first well in Ethiopia by the end of this year. Tullow has hired a drilling company to start operation in October according to sources.

It is to be remembered that Tullow bought a 50% stake in a concession in a South Omo Valley from Africa Oil. The concession was originally farmed out to Africa Oil by British company White Nile which has been prospecting for oil in the South Omo Valley since 2005.

Tullow was recently in the news for having struck oil in the Turkana Basin in Kenya.

The mining production potential of artisan miners in Ethiopia and their ability to generate income has grown in the past few years announced the Ministry of Mines.

The productivity and livelihood of the artisan miners has improved following the set up of the Artisan Minerals Directorate with the ministry said Bacha Faji, Director of Public Relations and Communication Directorate with of MoM.

In the past the poor network among producers, brokers and exporters in the middle had all resulted in a significant amount of illegal contraband trade of minerals resulting in low revenue from the sector said Bacha.