Message from the Ministery of Energy and Mines
ON BEHALF of our ministry and the government of Eritrea, we are pleased to welcome you to this supplement from Mining journal, which will give you background information on Eritrea and the investment opportunities in the minerals sector, including profiles of the exploration and mining companies operating in the country.Geological works and recent remote-sensing investigations proved that Eritrea possesses favourable geological settings.
The greenstone belt of Eritrea, which hosts precious and base metals, covers 70% of the country. The discovery of the Bisha high-grade zinc-copper-gold deposit, and subsequent announcements made by several other exploration companies operating in Eritrea, have demonstrated the potential the nation possesses for major mineral deposits.
A liberal economic policy with competitive tax regimes, full guarantees and protection of investments, untapped geological terrains, highly motivated, disciplined and hard-working people, an administration free from corruption, a safe and free country, make Eritrea an ideal destination for investors. The incentives provided to investors will be briefly spelt out in this supplement. The Eritrean mining law provides simple procedures for the submission and processing of licence application.
we sincerely hope that this supplement, although not exhaustive, will guide you and enable you to make some meaningful decision on how to invest in the Eritrean minerals sector. You are always welcome to contact us for further enquiries.
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Eritrea’s natural mineral resources include gold, copper, potash, zinc, oil, natural gas, cement, gypsum, granite, marble, ceramics, limestone and iron ore. The government of Eritrea and a Canadian company (NEVESUN), has started extraction 2010. The company expects to produce 471,000 oz of gold during the first year of operation at Bisha, and 424,000 oz in the second year. Copper production will begin in the second year and peak at 184-million pounds of copper in the fifth year of operation. The mine will begin producing zinc in its sixth year. There are many more mining contracts on the making. The potash mine in Danakil Depression with a planed output of up to 10,000 ton a day life span of over 150 years, the Zara and Dubrba gold mining Eritrea stands to share in hundreds of billions of dollars in mining profits.