The Ministry of Mines and Petroleum of Ethiopia has approved the mining agreements for TSX listed East Africa Metals’ (EAM) Mato Bula and Da Tambuk gold projects in the Tigray region.
The final step in the mining licence process is the formal ratification of the mining agreements by the Ethiopian council of ministers. “The Ministry of Mines’ approval of the Mato Bula and Da Tambuk mining agreements advances two additional mining projects to the development stage. This is another important milestone achieved by East Africa in the emerging mining sector of Ethiopia,” says Andrew Lee Smith, CEO at East Africa Metals.
With the completion of the two mining agreements, EAM now has three advanced development gold projects close to each other and existing transportation and power infrastructure. According to Smith the company will continue to engage in discussions with interested parties on project financing and advancing engineering of the Mato Bula and Da Tambuk projects.