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Energy and Mining

Nyota Minerals discovered New Gold Anomaly in Western Ethiopia

Nyota Minerals, the dual listed on the AIM Market of the London Stock Exchange (AIM:NYO.L) and the Australian Stock Exchange gold exploration and development company, has reported the discovery of a new gold anomaly at the Boka-West target in the company's fully Northern Block exploration license areas in Western Ethiopia.

The company reported that, the gold-in-soil anomaly extended for 2.0KM in length and was up to 500 metres (m) wide. The company said that it was also coincidental with anomalies for copper (Cu), zinc (Zn) and bismuth (Bi). Add a comment Add a comment


Allana Potash Files Application for Mining License in Ethiopia

Allana Potash, a Canadian company focusing on potash asset development and several potash concessions in Ethiopia has announced last week that it has filed a complete feasibility study to the Ethiopian Ministry of Mines in a bid to acquire a mining license.

The Environmental, Social and Health Impact Assessment report, which comprises the mining license application is also in the final approval stage and the company is expecting a decision by the end of this month, according a press statement released on the Company's official website. Add a comment Add a comment


SouthWest Energy Announced Results of the Competent Persons Report

SouthWest Energy, an Ethiopian oil and gas company, announced the results of the Competent Persons Report (CPR), a study commissioned by the company and prepared by an independent consultant, Senergy (GB) Limited, for the company’s  Gambella basin block (an extension of the large oil producing Melut basin in South Sudan) and blocks 9A, 9 and 13 in the Jijiga basin, a part of the Ogaden basin in Ethiopia.

“I am very pleased to announce the results of the CPR by Senergy, which I consider a significant step forward for our company and a strong validation of our work to date,” Tewodros Ashenafi, Chairman and CEO of SouthWest Energy said on the press release on last Thursday.

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Agriterra Assigns South Omo Block to Marathon Ethiopia for $28 Million

Agriterra Ethiopia announced that it has assigned a 20% interest in its South Omo Block to Marathon Ethiopia ltd for 28 million US dollars plus adjustments for closing. Marathon Ethiopia ltd is a subsidiary owned completely Marathon Oil Corporation.

An additional 12 million US dollars has been lodged with the Ethiopian government to be held on account until Agriterra finalizes any tax that is related to this transaction. The tax is expected to be an estimated 30% of the net gain realized after deducting all attributable costs incurred by Agriterra in relation with developing the block in the past. Add a comment Add a comment