I have followed both Nevsun and Sunridge closely for some time and I have watched the progress of their projects in Ertirea.
Both companies have discovered significant amounts of copper, zinc, and gold in Eritrea. Nevsun was a penny stock but has now taken off and they have a market cap of approximately $900 million I believe the turning point for them was about 4 years ago when they were awarded a mining license and concluded an agreement with the government for the government’s right to purchase 30% of the project. Continue reading Eritrea 2013: Year of Sunridge Gold→
A regional workshop on Mining,“Asmara Geocongress 2011” will be conducted in Asmara from 4 – 8 of October 2011. The main purpose of the workshop is to discuss on how to effectively utilize the natural resources, especially mines, in the region. The congress will include countries located in what is called the Nubian-Arabian Shield Countries located at the Nubian Shield are Egypt, Eritrea, Sudan and Ethiopia and at the Arabian Shield are Yemen, Jordan, and parts of Israel. In all these countries we find similar rocks important for different developmental activities.