2merkato

Nyota Minerals announced that the Definitive Feasibility Study for its Tulu Kapi project in Ethiopia is progressing well and is still expected to be completed in next half of the year.

Nyota has submitted some technical elements of the ongoing DFS to the Ministry of Mines to support its application for a mining license according to the report.

The company said that the ongoing infill drilling program planned to convert a further 260 thousand ounces of inferred resources to the indicated category is now 90% complete.

Ethiopia has significant salt deposits according to studies conducted at various times said the Ministry of Mines. The resources are estimated to be sufficient for more than 100 years said the ministry.

The studies conducted show that the salt resources are to  be found in parts of Afar and Somali regional states explained Bacha Fuji, Director of the Public Relations Directorate of the Ministry. The Dalol area in Afar Regional State is particularly notable for large salt reserves he said.

Efforts are underway to begin salt exports to generate foreign currency from the sector noted Bacha. Four companies currently engaged in salt production secured more than 30 million US dollars from the export of salt in the just concluded fiscal year he added. 

Gold production by artisan miners in Ethiopia has been 37% less than projected output in the just concluded financial year.

The artisan miners produced 8327 kilograms of gold as opposed to the 13,200 kilograms anticipated by the Ministry of mines.

The revenue earned from the export of gold however was only 17% below the projected revenue due to the increased price of gold on the international market. Consequently the revenue was just 88 million US dollars short of the 528 million US dollars projected by the ministry noted a report from the MoM.

The performance registered in the reporting period, however, exceed that of the previous year with the total amount exported (6,515 kilograms) surpassing what was exported last year (5250 kilograms).

Brazilian petroleum company, Petra Energiya, submitted a proposal for a concession in the Ogaden and Abay basins of Ethiopia according to sources.

The actual blocks that the company has submitted a proposal for are yet to be disclosed as the proposal is being evaluated by experts in the Petroleum Licensing and Administration Section of the Ministry of Mines.

The MoM awards concession upon negotiation with companies unless there are several companies interested in the same block in which case the ministry floats a tender according to officials.