HAVE ANY QUESTIONS? CLICK HERE
Dembel City Center, Africa Avenue - 10th floor
Address
+251-11-8-22-36-66
Office

News & Blog

Ethiopian Prime Minister Abiy Ahmed met with Børge Brende, President of the World Economic Forum, in a follow up discussion to their meeting in Davos, Switzerland. In January 2019, it was announced that Ethiopia would host the 2020 World Economic Forum on Africa.

Prime Minister Abiy Ahmed and Børge Brende signed an agreement that sets forth the terms and conditions applicable to the cooperation of the Forum and the Government for the Regional Meeting.

The World Economic Forum on Africa will be held in Addis Ababa in September 2020 and is expected to be attended by over one thousand people.

Source (Including Image): Office of the Prime Minister – Ethiopia, official Facebook page

https://www.2merkato.com/news/alerts/5710-agreement-inked-for-ethiopia-to-host-the-2020-world-economic-forum-on-africa

 

 

 

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/

 

A Chinese investment delegation, consisting of representatives from giant Chinese medical technology firms, expressed their keen interest to positively contribute to Ethiopia's healthcare sector through experience sharing and knowledge transfer, once their companies commence operations in the Ethiopia.

Aklilu Hailemichael, Ethiopia's State Minister of Foreign Affairs, received the delegation in Addis Ababa on Wednesday.

The state minister, on the occasion, called upon the Chinese technology firms to delve into the multitude of investment opportunities Ethiopia has to offer. Mr. Aklilu specifically extended an invitation to involvement in the medical technology sector.

"The Ethiopian Ministry of Foreign Affairs, in partnership with the Ethiopian Ministry of Health and other relevant institutions, will support Chinese firms to invest in the medical technology sector," Mr. Aklilu said.

Furthermore, the representatives noted that Chinese high-end medical equipment would help Ethiopia's efforts to modernize its healthcare sector, with particular importance to the treatment of cancer and related diseases.

Source: http://www.xinhuanet.com/english/2019-05/24/c_138086570.htm

 

SkyWay Investment Group (SWIG), a firm based in Belarus, aims to bring cable transport to Ethiopia. The company presented the idea of building a commercial cableway to the Ethiopian Minister of Transport and her staff. This new technology aims to save more space in urban areas.

Cable car construction has competitive advantages over the traditional railway construction method, according to SWIG, as it significantly reduces the land use for roads and infrastructure. Moreover, it eliminates embankments and transport tunnels and reduces the use of financial and human resources on a larger scale.

Cable cars will be used to connect airports to downtowns, city centers to suburbs and neighboring cities, once the construction comes to completion. It is specifically suited for mountainous areas, as well as for areas difficult to access, SWIG says.

Regarding financing of the project, SWIG has proposed to the ministry public-private partnerships, a mode that will enable the public to invest in it.

“Apart from the cost of rolling stock, passenger stations, terminals and infrastructure, the value of an urban high-speed rail line is estimated at about $3 million per kilometer,” the group said.

Ethiopia’s wing of SWIG was first started as a railway construction company named Technossat, established in Ethiopia by Ethiopians and committed to develop and adapt various technologies locally. It then went on to be an official partner of SWIG for the implementation of the Ethiopian cable car.

 

Sources: https://fanabc.com/english/2019/05/construction-of-cableway-under-study-in-ethiopia/

 

logo_color.png
  • Africa Avenue Street
  • Dembel City Center, 10th Floor 
  • Office: +251 118223666     
  • info@lucypartners.com

Newsletter

Subscribe for financial and related update for every month.

© Copyright 2020 Lucy Partners. All Rights Reserved.
Website developed @ BEKI Square

Search