[BREAKING NEWS] Al Amoudi's New MIDROC Gold Mine Starts Operation This Summer

Published: Jun 30, 2014 by Abishe Gerba Filed under: News Ethiopian News Oromo News - 427 Views

 

MIDROC Gold has announced that it will start mining gold in the summer of 2014 at a second mine in Oromia at Sakaro, only three kilometres from the main Lega Dembi gold mine. Lega Dembi began producing gold in 1998 and currently produces up to four tons of gold per annum. It contributes about 250 million dollars to Ethiopia's foreign currency earnings each year.
In 2008, MIDROC Gold discovered a second primary gold deposit in the Sakaro area which it has estimated at 20,483 kg. It has been undertaking feasibility studies for extraction since then. MIDROC signed a ten-year agreement related to gold extraction in Sakaro with the Ministry of Mines in November 2009.
In addition to Sakaro, MIDROC Gold has discovered a further gold deposit in the Benishangul Regional State. The Company began exploration activity in the Metekel license area in Benishangul in 2004, investing 200 million birr in exploration. It discovered 33 tons of gold deposits in the Jilay locality in 2011 and is still undertaking the final feasibility study on extraction (which is due in or around the end of the year). This study will enable it to make a decision on further investment.