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East Africa Metals Obtains Licenses to Two Mine Deposits in Ethiopia

East Africa Metals, a Canadian mineral exploration company, obtained approval for mining licences in Ethiopia to work on the Mato Bula Gold Copper and Da Tambuk Gold Deposits. East Africa Metals focuses on exploration and development projects in Africa.

The gold deposits, it was learnt, are part of the owned Adyabo Project, which is fully owned by the company and located in the Tigray region, northern Ethiopia. It was further stated that, on the part of the Ethiopian government, the Ministry of Mines, Petroleum and Natural Gas (MoMPNG), the Prime Minister’s Office and the Council of Ministers have formally approved the mining licence agreements for Mato Bula and Da Tambuk.

Andrew Lee Smith, East Africa CEO, said, “The awarding of the Mato Bula and Da Tambuk mining licenses marks an important milestone for East Africa, the Government of Ethiopia and the MoMPNG.

“East Africa’s management will now focus on negotiations with development partners to advance all of the Company’s assets in Ethiopia and Tanzania and engage further exploration programs to continue the growth the Company’s mineral resources and shareholder value.”

Along with the newly obtained Mata Bula and Da Tambuk mining licenses, East Africa Metals has now four fully permitted gold and base metal mining projects in Africa, resources amounting to a total of 2.8m gold and gold-equivalent ounces and exploration upside.

Mato Bula Gold Copper project is capable of producing an average annual metal production of 34,750 ounces of gold, 1.67m pounds of copper and 4,780 ounces of silver. The processing facilities at the deposit are designed to process a minimum of 500,000t/a, or 1,400t/d, of gold-copper-bearing material from an open pit mining operation, using conventional crush/grind comminution, gravity concentration and flotation to produce a copper-gold concentrate.

The Da Tambuk Gold Deposit, on the other hand, is capable of producing an average metal production of 24,000 ounces of gold per year and 6,000 ounces of silver per year, with processing facilities capable of processing 550tonnes per day using crush/grind comminution, gravity concentration and CIL technology.


Source: https://www.compelo.com/energy/news/east-africa-secures-mining-approval/


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