2merkato

Stratex International, the AIM-listed gold miner, said yesterday that it would use the fund from the sale of shares to Antofagasta, the FTSE100 copper mining company, to accelerate its gold exploration activities in Ethiopia.

Antofagasta, the FTSE100 copper mining company, is buying a stake of almost three per cent in Stratex International via a private placing.

Shares in Stratex were trading higher by 0.6 per cent at 7.8 pence each in mid-afternoon trading yesterday. The funds raised amounted to £800,000.

STREIT Group, the world’s leading, privately owned armored vehicles manufacturer in the world, is intersted in investing in Ethiopia, Ethiopian Investment Commission disclosed.

The Ethiopian government signed an agreement with the US firm Netherland, Sewell & Associates, Inc. (NSAI) to explore Ethiopia's natural gas deposits and its economic potential.

Ethiopia has a potential to generate over 10,000 MW from geothermal power, according to a study conducted by the Geological Survey of Ethiopia (GSE).

Sudan and Ethiopia have signed a 500 KW power lines contract on Wednesday, July 22, 2015, which allows Sudan to benefit from the Ethiopian Renaissance Dam.