Eritrea looks to build mining sector to kick-start economy

By Reuters / February 26, 2016 / www.mining.com / Article Link

Eritrea expects to have four mines in operation by 2018 producing gold, copper, zinc and potash as one of Africa's poorest nations looks to build an industry that can kick-start its economy, a top mining official told Reuters.

Eritrea's artisanal miners have long scratched for gold nuggets on deposits that stretch along the Red Sea, a geological formation known as the Arabian Nubian Shield, but the country currently has just one working commercial mine.

But the threat from Ethiopia, from which it won independence in 1991 and fought a border war in 1998-2000, makes investors wary.

Read more...

Recent News

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com

US a major market for Canadian mineral exports

November 11, 2024 / www.canadianminingreport.com

Gold stocks down along with broad equities decline

November 04, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok