Tag Archives: Andiamo Exploration Ltd

Ortac Hails Potential Andiamo Investment in Eritrea

Ortac holds 26.99% stake in Andiamo Exploration Ltd, which holds the Haykota licence, prospective for copper and gold.

Ortac Resources hailed Environminerals East Africa (EEA) for exchanging its 25% joint venture interest for its Eritrea exploration partner Andiamo Resources.

By Proactive Investor,

Ortac Resources Ltd (LON:OTC) shares surged over 7% as it hailed a potential 25% stake being taken in its Eritrea exploration partner Andiamo.

The AIM-quoted firm holds a near 27% stake in the latter, which holds the Haykota exploration licence, prospective for copper and gold.

In the summer, the Eritrean Government granted Andiamo an extension of 91 sq km to the license area to include ground known to host volcanogenic massive sulphide (VMS) targets. Continue reading Ortac Hails Potential Andiamo Investment in Eritrea

Exploration and Mining Companies Operating in Eritrea

There are 16 mining and exploration companies operating in Eritrea that came from Australia, Bermuda, Canada, China, Libya, the United Arab Emirates and the UK

By TesfaNews,

Exploration started in liberated Eritrea in 1996 straight after the promulgation of the Mining Law. The level of participation by foreign companies has increased significantly following the discovery of the high-grade VMS deposit at Bisha.

There are more than 14 mining and exploration companies operating in Eritrea from Australia, Bermuda, Canada, China, Libya, the United Arab Emirates and the UK.

These companies collectively operate 34 projects. They include some advanced exploration sites (where mineral resources have been established, and, in some cases, where scoping level and feasibility studies are completed) to early-stage prospecting projects (where reconnaissance mapping is being carried out). Continue reading Exploration and Mining Companies Operating in Eritrea