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Egyptian company, Ascom finds largest gold in Ethiopia

Tigrai Onlne - March 24, 2014

Egyptian company, Ascom finds largest gold in Ethiopia
Recently, the Ministry of Mines granted a large-scale gold mining license to Ezana Mining, a local mining company. National Mining Company, one of the subsidiary companies of MIDROC Ethiopia, has also discovered a large primary gold deposit in the Tigrai and Oromia regional states.

An Egyptian company, Ascom Precious Metals Mining, has discovered what is said to be the largest gold ore reserve ever discovery in the history of gold exploration in Ethiopia. The discovery is made in the Benishangul Gumuz Regional State, in south- west Ethiopia. Ascom has been prospecting for gold and base metals in the Benishangul region since 2010.

Two weeks ago Ascom made a presentation to senior officials of the Ministry of Mines about the new discovery. Tolossa Shagi Moti, Minister of Mines, told The Reporter that the ministry was happy with the discovery. "This is the largest gold discovery ever made in the country," Tolossa said. According to Tolossa, Ascom Mining will conduct a feasibility study and will start developing the mine.

"We hope that the company will conduct the feasibility study and start production after one year," the minister said. Tolossa said that the ministry will grant large-scale gold mining license to Ascom Mining after the company conducts the feasibility study. The ministry declined to disclose the reserve of gold ore discovered. "We have been talking about 30 or 40 tons of gold discoveries so far. What Ascom discovered is much more than that," Tolossa said. Ascom is expected to announce the discovery in the coming few weeks.

Source: Reporter - http://www.thereporterethiopia.com/index.php/news-headlines/item/1776-egyptian-company-taps-largest-gold-reserve-in-ethiopia

Are the Egyptians digging for more than the gold? The equipment for surveying, digging and studying a dam and gold mine are the same. How do we know they are not bringing equipment to sabotage the Grand Ethiopian Renaissance Dam? They need explosives and manpower for drilling for gold, the same for demolishing buildings or dams too. We hope the government has a tight surveillance on their every moves.

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