Ethiopia issues a large scale gold and silver mining license in Tigrai
Tigrai Online, Dec 6, 2017
An Ethio-Canadian company has been issued a large scale gold and silver mining license in Tigrai state
According to FBC news report the Ministry of Mines, Petroleum and Natural Gas has issued a large-scale gold and silver mining license for the Ethio-Canada company, Harvest Plc.
Motuma Mekassa, Minister of Mines, Petroleum and Natural Gas and Wubshet Kassaye, manager of Harvest Plc, signed the agreement which will run for a period of six years and subjected for renewal for up to ten years.
The company was licensed to carry out mining in Shire, Laelay Adiyabo, western Tigrai zone, in northern Ethiopia. The area of the mining covers about 2.7682 square kilometers of land and it will cost over 65.29 million US dollars, according to the ministry.
The company is expected to produce 2,080kg of gold and 8,968kg of silver over the coming four years. The mine will create employment opportunities for 120 Ethiopians.
There are a number of places which are positively identified with large deposit of gold in Tigrai state. Recently the Tigrai state announced a massive deposit of sapphire has been found in three parts of Tigrai around central, western and north western of the state.