2merkato

The Ethiopian Ministry of Water and Energy signed agreements with Chinese and British companies for the implementation of a solar energy project. The contract with Chinese Poly technologies is worth 208 million birr while the contract signed with Yoseph and Elizabeth International Trading plc is worth 10 million birr.

The agreement was signed by Alemayehu Tegenu, State Minister for Water and Energy, Xie Xiaoyan, Chinese Ambassador to Ethiopia, Cheng Zerong, Vice President of Poly Technologies and Yoseph Getachew, Managing Director Of YEIT plc.

The contract allows for 25,000 solar home systems with different capacities ranging from 8 watts to 130 watts to facilitate rural electrification to power domestic uses said Alemayehu speaking on the occasion.

Ethiopia suspended the production of tantalum concentrate at the Kenticha Tantalum Mine. The Ethiopian Minerals Development Enterprise stopped the production of tantalum to support the manufacture of value added tantalum products as per instructions from the Ministry of Mines.

The ban could also be due to the increasing contamination with uranium, a radioactive element, which is making it impossible to ship the raw material.

The uranium contaminated mineral has been mined by local traditional miners with no negative health consequences reported as of yet explained Traditional Mining Department of the MoM.

Nyota Minerals, engaged in gold exploration in Ethiopia, announced that it had received 1.3 million Pounds from the International Finance Corporation.

The company is expecting to use the investment from the IFC to support its Tulu Kapi project according to its announcement last month.

The company which is focused on gold exploration in Africa and development has also received consideration for 21.7 million new ordinary shares at 6p each.

The Ethiopian subsidiary of BHP Billiton, World Exploration Incorporated will start to producing Potash in the beginning of 2014 announced the Ministry of Mines.

The Anglo-Australian company, which is one of five licensed companies prospecting for Potash in Ethiopia, is in the exploration stage said Bacha Fuji, Head of the Public Relation and Communication Department.

It is to be remembered that Allana Potash announced the discovery of 1.2 million tons of potash deposits in the Dallol depression of Afar Regional State.