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Ethiopian Potash announced results for the first six holes assayed in the Southwest Corner of its Danakil Potash Project, Ethiopia.

The high grade sylvite assays obtained from holes located on the basis of ready access preceding the construction of drill roads is encouraging said Mr Wahl, President and CEO of Ethiopian Potash.

Ethiopian Potash has completed 19 holes which have all been logged, sampled and shipped to Saskatchewan Research Council for analysis explained Wahl.

Delbi Coal Mining Share Company is set to extract 30,000 tons of coal in Ethiopia. The company will be extracting coal from an open mining field in Jimma. Delbi plans to increase its production to 200,000 tons of coal in time. 

Delbi has extracted and sold an estimated 46,000 tons of coal since it began operating. The company has begun preparation for the mining project.

Allana Potash Corp announced it has intersected to zones of strong potash mineralization on its potash concession in Ethiopia.

The company made known on Tuesday that a hole located on the Western part of its property intersected a strong Sylvinite Zone at a depth of 193.7 metres, yielding 32.02% KCI over 5.35 metres, including a high grade section from 195.2 to 197.7 metres of 43.85% KCI.

The Ethiopian Petroleum Enterprise awarded a 29.5 million US dollar contract to Huyton Inc Company. The contract is for the supply of coal to realize Ethiopia’s plan to use coal as fuel in cement factories.

The contract to be signed next week is for the import of a minimum of 650,000 tons of coal every month beginning from next month, for one year. 

Ambo Gnemer announced plans to carry out gold exploration in Oromia Regional State, Ethiopia. The company is set to invest in cement manufacturing, vegetable and fruits, animal husbandry and sugar development as well as gold exploration.

Ambo Gnemer will carry out its exploration on 21,000 hectares of land outside of Ambo in Oromia Regional State according to Nigussie Gedefa, Marketing and Project Office Coordinator.

The company has high hopes for the gold exploration site as local miners are actively producing precious minerals in the area where Ambo Gnemer expects to be producing gold said Nigussie.

Alecto minerals acquired Rift Valley Resources, a Tanzanian company, with control of a three year exploration license for gold and emerald in Waya Boda in the prospective Adola green stone belt in Southern Ethiopia.

The Waya Boda concession is a promising venture in gold and emerald exploration in a region of Ethiopia known to host significant deposits according Alecto Managing Director Damian Conboy.

Nyota Minerals has announced that it is completing its definitive feasibility study on its 1.5 million ounce concession at Tulu Kapi in Ethiopia. The study is required to support the project's financing.

The company has developed the Tulu Kapi concession from zero to more than 1.5 million ounces through drilling an estimated 230 holes in two years according to statement released by Nyota to its investors.

An independent preliminary economic assessment of Allana Potash gave the assent an after-tax net present value of 1.85 billion US dollars and a 36.8% internal rate of return.

The PEA stated that a one million ton per annum mine at the Dankil project will cost 796 million US dollars to build.

The capital cost figure makes the projects the lowest cost and possibly the highest return potash project in the world according to Farhad Abasov CEO of Allana.

The Ethiopian Electric Power Corporation is to construct six wind power and one Geo Thermal Power Plant this fiscal year. The alternative power generating projects are expected to have the capacity to generate 1,015 Mega Watts.

The wind power projects are Adama II Wind Power Project (153 MW),  Assela Wind Power Project, (100MW),  Ayisha Wind Farm (300MW), Debre Berhan Wind Farm (100MW), Galema I Wind Power Project (250 MW) and the Mosebo Harena Wind Farm (42 MW).

The Aluto Langano Geo Thermal Project is expected to have the capacity to generate 70 MW.

Ethiopian Potash Corporation has announced that it has completed 16 diamond drill holes totaling 3,353 meters on its Danakil Potash Project. The initial 16 holes were drilled in the South-west Target Area.

Ethiopia Potash is currently drilling holes 17 and 18 to test the northern continuation of the South-west Target Area. All holes have intersected the Danakil Potash bearing sequence.