East Africa receives gov’t OK for Terakimti permit
EAST AFRICA Metals Inc. has received government approval of East Africa’s mining licence agreement for the Terakimti oxide gold project at the company’s 70-per-cent -owned Harvest project located in the Tigray national regional state of the Federal Democratic Republic of Ethiopia.
The mining licence agreement has been formally approved by the Ministry of Mines, Petroleum and Natural Gas, the Prime Minister, and the Council of Ministers. The company will now focus on finalizing its previously announced project financing, and proceed with engineering and development of the Terakimti Project.
Andrew Lee Smith, East Africa’s chief executive officer, stated: “This is an extremely important achievement for East Africa, and we appreciate the efforts of the government and Ministry of Mines in the development of the mining licence agreement for Terakimti. We plan to move forward as soon as possible with engineering and development of the project.” The Terakimti project will provide East Africa the opportunity to benefit from establishing the first commercial heap leach operation in the country, and provide the basis for additional exploration and development to grow the company’s mineral resources in Ethiopia.
Terakimti oxide gold project profile:
• Mineral resource: indicated resource of 1.11 million tonnes grading 3.20 grams gold and 23.6 grams silver per tonne containing 114,000 ounces of gold and 841,000 ounces of silver;
• Heap leach recoveries from column testwork: up to 74.8 per cent gold and 39.4 per cent silver;
• Proposed mining method: conventional open pit;
• Proposed processing technology: heap leaching to produce gold-silver dore. Environmental impact and socio-economic assessment
An independent environmental impact and socio-economic assessment (EISA) study has been completed by Beles Engineering Pvt. Ltd. Co. of Ethiopia, and forms an integral part of the mining licence agreement. This EISA examined the beneficial and adverse aspects of the proposed mining operation and concluded that the local population is in favour of the project, and the anticipated benefits would be positive and very important to the local community and to the local and regional governments. The EISA further concluded that the adverse impacts identified can be mitigated through implementation of the proposed management and monitoring plans, and therefore recommended project implementation.
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Erika Flores condensed this news release (email@example.com).
Antony Harwood, Zhijun He, David Stanley Parsons, Andrew Lee Smith, Sean Ivor Waller, Jingbin Wang, Yongwen Wang
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