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    Company discovers gold, base metal reserves in two states

     

    Company discovers gold, base metal reserves in two states

    Addis Ababa, December 30, 2011 - National Mining Corporation PLC.(NMiC) announced Friday that it has discovered gold and base metal reserves in Dawa Okote, and Werri areas in Oromia and Tigray States respectively.

    Speaking at a press conference here on Friday, NMiC General Manager, Melaku Beza said the explored 550,000 kg gold reserve at Dawa (Okote).

     

    He said the reserve is estimated at over 4 billion USD. The manager said the company has finalized preparation to extract 80,000 kg of gold. He said Werri has 18,000 kg gold reserve valued at over 792 million USD.

    Besides, he said silver, lead and zinc reserves have also been discovered. A Preliminary Economic Assessment made by a foreign company indicated the technical and economic feasibility of the projects, he said.

    Melaku said the discovery witnessed that Ethiopia has untapped huge mineral resources.According to him, the exploration has been undertaken since 1996 at a cost of 80 million Birr.

     
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