A Swedish business delegation led by Gunnar Oom, Swedish Secretary of Trade expressed its keen interest to promote trade relations between Ethiopia and Sweden.
The trade promotion event took place between 15 and 17 May 2013 was organized by the Embassy of Sweden Addis Ababa, Business Sweden - The Swedish Trade & Invest Council and Responsify, a textile and leather manufacturer.A business delegation that constitutes representatives of 12 Swiss companies and led by the Switzerland’s Ambassador to Ethiopia, Andrea Semadeni, are on a five days business visit in Addis Ababa in search of investment opportunities. The delegation started its visit on Monday, September 29 and it is going to last until Friday, October 3, 2014.
The Swiss shipping company MSC (Mediterranean Shipping Company) announced it has launched a new intermodal route between Ethiopia and Djibouti. "As the first MSC intermodal service in Ethiopia, it is a key milestone for progress in the region," the company said in an official statement. "The new solution combines road and rail transport to facilitate smooth imports and exports out of landlocked Ethiopia."
Syrah Resources concluded a deal with Aramis Resources Limited for the acquisition of an 80 percent interest in three large projects of gold exploration in Ethiopian.
Syrah will acquire the stake through paying 1.5 million dollars in three instalments spread over two y
ears, issuing 25 million shares and up to 5 million options, and the expenditure of 2.5 million dollars on the projects within 3 years.
Syrah will explore 2,000 sq km of prime ground and get access to various assets with mineral exposure.
The ground consists of three project areas at Moyale, Nejo and Dawa which are all found close to areas of significant gold mineralisation in southern and western Ethiopia.
Moyale contains one granted tenement covering 440 sq km.
The Dawa Project contains two granted tenements covering 1,000 sq km south of Lega Dembi Mine in southern Ethiopia. Gold production at Lega Dembi is reported to have hit 3 million ounces over the last two decades and it is still producing more than 100,000 ounces annually.
The Nejo project contains four granted tenements covering 771 square kilometres in the western part of the country, north of Nyota Minerals Limited's Tulu Kapi Project (currently 1.2 million ounces in resources).
Small areas of high grade mineralisation associated with quartz veins in intrusives have been mined at a small scale on the licence at the Chamuk Prospect. Drilling has proven that there is good potential for resources to be outlined.
Syrah Resources shares climbed 31.25 percent to 0.105 dollars in intraday trading today.
Source: Proactive Investors
TAF Oil PLC opened its first fuel station in Addis Ababa, Ethiopia. The station is located in Mekanissa area. The opening ceremony was held on Saturday, March 9. TAF is planning to open eight additional fuel stations in Tigray, Amhara, Oromia and Gambella Regional states of Ethiopia.
TAF was established in 2008 by three with 56.3 million birr authorized capital. TAF Oil commenced operations in January 2011 in Gelan, Oromia Special zone. In less than two years TAF has increased the number of its fuel stations to 18, located in the capital and different regional states.
