Eritrea is under a mining boom.

[Oxidant]

Wallahi, it is great to see Eritrea succeed with all the limitation imposed on it by the UN sanctions. This nation is the beacon of hope in the Hope of Africa.

Right now the country is under a mining boom. They will start exporting gold at the end of 2010. It is perfectly timed with record gold prices.

In one mine alone, they have 27 million tones of ore, with 1 million tones of gold and 800 millions lbs of copper and 1 billion lbs of Zinc.

Asmara belt has some 70 million tonnes of ore thought to contain between 500,000-1 million ounces of gold, 2 billion lb of zinc and 700-800 million lb of copper.


This is just tip of the iceberg. There has been rumors that Eritrea has Oil due to it’s close proximity to Saudi Arabia and Yemen.

Eritrea: Highly prospective for oil and gas
http://eastafro.com/Post/2010/10/14/eri ... l-and-gas/
Japanese want to start looking for Oil in Eritrea.
http://www.eritreaembassy-japan.org/dat ... %20_en.pdf

Eritrean president interview

What are the plans to begin exploring the Eritrean oil and gold deposits? / Daniel

- I just got the report yesterday. These are some thirty companies from almost as many countries involved in the project. It's all about gold, silver, copper and tin. There are huge assets, which will in time at the end of this year. The oil we take later. What this means for our economy, I would not go into. We do like Norway. The assets are for the generations to come. We do not need big money. We create a secure foundation for the future by improving roads, organize clean water, build houses and schools, energy, good health and good education. That is how we create a sustainable future. Not by buying big houses and get bank accounts in Switzerland. These resources will be invested here.

[Oxidant]

According to the Minister of Energy, Eritrean mining proclamation states that every licensed body pays from 3.5 to 5 percent of the total cost of production to the government before hand. After a company pays all expenses, it also pays 38 percent tax on net income to the government. Then the government also gets a payment after all the expenses are covered based on the number of shares it holds.

[*Nobleman*]

I just got the report yesterday. These are some thirty companies from almost as many countries involved in the project. It's all about gold, silver, copper and tin. There are huge assets, which will in time at the end of this year. The oil we take later. What this means for our economy, I would not go into. We do like Norway. The assets are for the generations to come. We do not need big money. We create a secure foundation for the future by improving roads, organize clean water, build houses and schools, energy, good health and good education. That is how we create a sustainable future. Not by buying big houses and get bank accounts in Switzerland. These resources will be invested here.

Very noble thing for him to say, but will it actually happen in Africa.

[Oxidant]

I just got the report yesterday. These are some thirty companies from almost as many countries involved in the project. It's all about gold, silver, copper and tin. There are huge assets, which will in time at the end of this year. The oil we take later. What this means for our economy, I would not go into. We do like Norway. The assets are for the generations to come. We do not need big money. We create a secure foundation for the future by improving roads, organize clean water, build houses and schools, energy, good health and good education. That is how we create a sustainable future. Not by buying big houses and get bank accounts in Switzerland. These resources will be invested here.

Very noble thing for him to say, but will it actually happen in Africa.

Sudan for example,

They used their Oil money wisely to help other sectors of their economy. And it is paying off dividends now

[union]

Why are you supporting a nation that is funding the Al Shishkabab reign of terror?

[Oxidant]

Why are you supporting a nation that is funding the Al Shishkabab reign of terror?

There no real proof that Eritrea supports Al Shabab. They claim numerous outrageous things about Eritrea. We are those 2000 men in Somalia during UIC reign? I am still waiting for proof. A strong Eritrea is the best way to counteract Ethiopia’s influence in Somalia. Ethiopia is the one that funded Somali civil war for 20 years NOT Eritrea. Also Eritrea support ONLF as well.

Eritrea is indebted for Somalia for 1977. Without the Ogaden war, they might never have gotten their independence


Historic Days: Thousands of Eritreans Unite to Sing the Somali National Anthem
http://newsblaze.com/story/201009061023 ... story.html

[Somali_Boqor]

Talk is cheap. When the money starts flowing they will be just as corrupt as their xabashi brothers.

[EEGA9]

Eritrea Guuleysta, A friend of the Somali People

[udun]

Great news from Eritrea.

PS: Somalia has more mineral resources than Eritrea and is one of the main reasons why stability is denied in Somalia. The boys with bick necks (aka Gaalo qurunley) saw something below the sand and they have determined that we don't deserve it. It is also our stupidity to be following their directions to exterminate against each other

[muslim-man]

[quote="udun"]Great news from Eritrea.

PS: Somalia has more mineral resources than Eritrea and is one of the main reasons why stability is denied in Somalia. The boys with bick necks (aka Gaalo qurunley) saw something below the sand and they have determined that we don't deserve it. It is also our stupidity to be following their directions to exterminate against each other [/quote]

[ModerateMuslim]

Why are you supporting a nation that is funding the Al Shishkabab reign of terror?

jewgirl/boy (whatever you're),

al-shabab is funded by somali business men

[ModerateMuslim]

Great news from Eritrea.

PS: Somalia has more mineral resources than Eritrea and is one of the main reasons why stability is denied in Somalia. The boys with bick necks (aka Gaalo qurunley) saw something below the sand and they have determined that we don't deserve it. It is also our stupidity to be following their directions to exterminate against each other

dude, get off the looney-express conspiracy-train

you're always coming up with half-baked crazy-out-there conspiracy theories.

[Oxidant]

Great news from Eritrea.

PS: Somalia has more mineral resources than Eritrea and is one of the main reasons why stability is denied in Somalia. The boys with bick necks (aka Gaalo qurunley) saw something below the sand and they have determined that we don't deserve it. It is also our stupidity to be following their directions to exterminate against each other

dude, get off the looney-express conspiracy-train

you're always coming up with half-baked crazy-out-there conspiracy theories.

http://www.nation.co.ke/News/politics/U ... m5kc0yz/-/

Deputy Speaker of the National Assembly of Kenya
Farah Maalim


Mr Maalim accuses the US of instigating instability in Somalia mainly to create room for exploitation of mineral and marine resources on the Somalia coastline.

[udun]

Great news from Eritrea.

PS: Somalia has more mineral resources than Eritrea and is one of the main reasons why stability is denied in Somalia. The boys with bick necks (aka Gaalo qurunley) saw something below the sand and they have determined that we don't deserve it. It is also our stupidity to be following their directions to exterminate against each other

dude, get off the looney-express conspiracy-train

you're always coming up with half-baked crazy-out-there conspiracy theories.

I think you are exposing your lack of intelligence if you don't know that we have mineral resources that every one is after. All I can tell you is to go and read before you charge every thing to be conspiracy theories.

[Oxidant]

Assays from South Boulder Mines' (ASX: STB, SO3-Fra, SO3-BER) first complete hole at its fully owned Colluli potash deposit in Eritrea have exceeded the company's expectations, confirming Colluli as a highly significant potash deposit.

Lorry Hughes, managing director, said “this is an outstanding result to be able to drill high grades at such shallow depths."

"Hole Col-004 is the first complete hole we have received from the laboratory and we expect to have the remainder of the holes within two weeks. It appears that Colluli is one of the shallowest potash deposits in the world and I expect the engineering study results to confirm a cheap capex and opex operation."

Exploration work is continuing, including the commencement of a ground gravity survey at the end of October to help delineate structures that control mineralisation.

The gravity results together with the remaining chemical results will allow South Boulder to better target further resource delineation drill sites.

The drill rig is still onsite and drilling is set to resume in early November.

To date potash has been intersected over a 4.5km2 area and it is planned to expand on this with the current drill program. Data will be used to generate a geological resource estimate at year end and concurrent scoping study estimates and planning is well advanced.

Information on the scoping study program and further exploration results will be released as it comes to hand.



The news just better for the Eritrea and her people