Newmont ethiopia

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Featured Location — Australia Newmont has fully owned and operated the Tanami mine since All rights reserved.Some 23 local and international companies including global influential players are engaged in the production or exploration of gold in Tigray region. The region that is located in the northern part of the country has enormous potential for the precious metal and other base metals.

According to Fisseha Meresa, Licensing Director at Tigray Mining and Energy Agency, the gold deposit is available in many part of the region, while it varies from place to place regarding the potential. Prospecting the precious metal in the region is growing and the activity of local and foreign investors has reached In the gold sector Ezana Mining Development is engaged in production and for the year it has supplied 2.

Dawit Gebregziaber Abrha Gold Mining Enterprise, which is engaged on a small scale, Newmont Venture Limited Ethiopia and Harvest Mining have secured the mining license that is given by Ministry of Mines and Petroleum, which is responsible to overlook some high level investments in the sector. According to the Licensing Director, 19 companies are engaged on exploration for the precious metal, which will contribute to the hard currency earning of the country.

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Besides the big investors, artisan mining also expanded in the region as well as new resource areas were found. So far associations including over 10, artisans are involved in small scale gold mining in the region. He said that the informal activity affects the country because they usually use the contraband business. The agency estimates that the average annual production of the artisans is over 10 quintal in total but the issue is to bring it to the formal trading.

The region has also resources like sapphire and copper that is expected to benefit the communities. The industrial mineral is also the other huge potential for the region. Iron ore, granite, limestone, quartz, gypsum, silica sand, dolomite, feldspar and others are mentioned as wide potential in the region as industrial product. According to Assefa, six companies are engaged on iron ore exploration.

From the industrial material the silica sand resource is very wide that attracts five companies including Goda Bottle Factory that is constructing its factory at Adigrat. Goda is in good position to commence the production of bottles that would be good opportunity for the region and the nation, according to Fisseha.

Construction resource is also available in majority part of the region. Dimension stones like marble, slate and others are abundantly available in the region. He added that the production of construction materials in large scale like cement and granite industries has replaced the import of construction input in the country beside the benefit for job creation and royalty from the mining sector for the region.

Currently the mining sector in the region is creating up to 40, new jobs every year. Sign in. Log into your account. Forgot your password? Password recovery. Recover your password.

Get help. Capital Ethiopia Newspaper.

newmont ethiopia

Home News Companies eye Tigray for gold production. The Ethiopian Economic. Quantity of products entering ECX increases. Insurers ask for separate body to regulate sector January 1, Flexible February 24, Mining sector challenges in developing countries, Tigray, Ethiopia and inspirational success stories.

Biographical notes Principal author :.

Companies eye Tigray for gold production

He has been working at multi-billions U. Mining status in Tigray Regional State. Tigray has got rich mineral resources, which include gold, copper, silver, iron, zinc, lead and nickel, as well as oil shale Yihdego et al. Asbestos, silica sand, kaolin, graphite, gypsum, gemstone, marble, granite, slate, limestone, and dolomite are among the non-metallic minerals that also exist in Tigray.

There are no large-scale mining companies in Tigray region except:. Cement, marble, gypsum factories. Indeed, there are many companies doing exploration in the Tigray region, which have got licenses to operate in exploration of gold, base metals, industrial minerals, coal, gemstones, and other ores and minerals. Foreign and local mining firms are involving in different parts of the Tigray region. East Africa Metals is a Vancouver-based Canada mineral exploration company, focusing on exploration and development projects in Africa.

Their permit was approved for Ethiopian gold projects. The Mato Bula project has an average annual metal production of approximately 34, ounces oz gold, 1. The Da Tambuk project has an average metal production of 24, oz gold per year and 6, oz silver per year. A processing rate of 1, tons and tons per day is estimated for Mato Bula and Da Tambuk, respectively. The mining company has also discovered other. The projects are expected to be technically and economically feasible Mining, The concessions, located on four different plots of land, are owned by a newly established company called Nubia Mining Development plc.

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Avion Resources Corporation Canadian exploration asset covers approximately 2, km in the Regional State of Tigray, where massive sulphide zones, including Bisha deposit, Eritrea immediate north of Tigrayand several gold deposits have been discovered in these greenstone belts.

Huge deposit of most precious gemstone Sapphire was found in the Tigray Regional State. The deposit is found in central, western, and north western of Tigray.

Newly discovered latethe precious gemstones sapphire in Tigray, is generating many millions of dollars. Blue sapphire is the most desirable gemstone next to diamond, due to its excellent blue colour, hardness, durability, and luster TOL, It has created job opportunity for 10, people living in the area, involved in the extraction of the mineral in the region.

newmont ethiopia

The gemstone is currently extracted by artisanal miners who are structured in unions and cooperatives. However, the extraction has not yet entered into a well-organised system, as farmers from the area are currently extracting it C2D Services Inc.

This article highlights the Ethiopian mining industry status, strategy, and challenges. The Ethiopian major natural resources are gold, platinum, copper, potash, gemstone, natural gas, oil, and oil shale. The Ethiopian Government is exerting efforts to regulate the mining legislation to favour investment in the sector.

The article explicitly touches topics such as:.

Ethiopia could be sitting on one of the world’s great untapped gold deposits

Practical issues facing the Ethiopian mining industry includes:. Given that, the mining companies have an up-to-date resource reserve estimate before they withdraw, they will be able to come back or indirectly associate with other international companies who will take over the projects.There is also near mine exploration and development focus in Ghana to annually replace gold reserves.

Newmont Africa also has early-stage exploration programs in the African countries of Ethiopia and Morocco. Jobs Career Advice Signup. Search for Jobs. None 1 - 4 years 5 - 10 years 11 - 35 years. Advance Search. Newmont Goldcorp Corporation Jobs in Ghana. Get notified when Newmont Goldcorp Corporation publishes a vacancy.

Get Notified. We recruit the most talented technologists on the African continent, shape them into technical leaders, and place 13 April Jobs at Andela Andela extends engineering teams with the most talented software developers in Africa. We recruit the most talented technologists on the African continent, shape them into technical leaders, and place 09 April Engineers at DRA Global DRA Global is a diversified global engineering, project delivery and operations management group headquartered in Perth, Australia, with an impressive track record spanning more than three decades.

No review available Do you currently work in this company or maybe have worked there before? Drop a review. Subscribe to Job Alert.Ethiopia, which has a mostly artisanal mining industry, wants to woo foreign mining companies to kick-start development of its vast mineral resources, a key part of its efforts to plug a large trade deficit and generate foreign exchange.

Prime Minister Abiy Ahmed is shaking up several sectors in a liberalization drive aimed at transforming Ethiopia into a middle-income country.

newmont ethiopia

The government will give incentives to investors who develop minerals used in agriculture such as potash, a key ingredient in fertilizer, as well as construction minerals, a draft policy document seen by Reuters ahead of the speech showed.

The ministry is still working out the details on tax and incentive policies, Samuel told Reuters, and the revised mining law would be announced by August next year. Changes to its mining policies have been expected since February this year.

newmont ethiopia

Despite such reforms, Ethiopia faces stiff competition on the continent in vying for much-needed foreign investment. Access to hard currency remains a big stumbling block for international miners wanting to operate in Ethiopia, where foreign exchange reserves are low. Government guarantees of access to foreign exchange would help attract more miners to Ethiopia, he added, which in turn could help bring in more hard currency to bank coffers.

Norwegian fertilizer company Yara is among those planning to develop potash, found in the remote Danakil depression in the northern Afar region of the country, through its Yara Dallol project. The government is therefore enlisting the help of organizations such as the Canadian International Resources and Governance Institute CIRDI to develop the artisanal mining sector and increase government proceeds from these activities.

Discover Thomson Reuters. Directory of sites. United States.ADDIS ABABA, Nov 25 Reuters - Ethiopia will prioritise potash and construction minerals in a push to attract investment from large-scale miners, according to a draft policy document reviewed by Reuters ahead of an expected government announcement on Monday. Ethiopia is looking to woo foreign mining companies to kick-start development of its vast mineral resources to plug a large trade deficit. Most existing mineral extraction is artisanal.

The government will support and incentivise investors who aim to develop minerals that are key inputs for agriculture, such as potash, which is used to make fertilizer, the draft policy document said.

However, it did not give any specifics about potential tax cuts or other sweeteners to attract additional investment. Minerals minister Samuel Urkato was expected to announce the new policies during a keynote address opening a mining conference in Addis Ababa later on Monday.

Norwegian fertilizer company Yara is among those planning to develop potash, found in the remote Danakil depression in the northern Afar region of the country, through its Yara Dallol project.

However analysts say it will be hard for the government to achieve that goal solely by attracting foreign investors into the mining sector, given the timeline for developing major projects. The government is also enlisting the help of organisations such as the Canadian International Resources and Governance Institute CIRDI to develop the artisanal mining sector and increase government proceeds from these activities.

Reporting by Helen Reid; editing by Richard Pullin. Discover Thomson Reuters.

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Ethiopia has been expected to announce changes to its mining policies since February this year.Newmont offers university students and recent graduates opportunities to gain real-world experience with a global leader in responsible mining. Receive updates directly to your inbox on financial news, press releases, upcoming events and presentations, performance reports, blog posts and more. Find all Newmont documents, ranging from fact sheets, policies and standards to reports, presentations and more.

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Potash a key focus for Ethiopia's mining push - draft document

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