NEVSUN REPORTS $170M IN REVENUE AFTER SELLING 2,700KG OF GOLD IN THE 3Q 2012 November 9th, 2012 In the last three months that ended September 30, 2012, Nevsun pays the Eritrean government $30,037,000 as income tax and $8,154,000 for Royalty. The government pays back $5,731,000 as partial payment for its 30% share in the Bisha Mine Nevsun Reports Strong Third Quarter 2012 Financial ResultsBy Nevsun,Nevsun Resources Ltd.(TSX:NSU / NYSE MKT:NSU) today reported financial and operating results for the third quarter ended September 30, 2012.This release should be read in conjunction with Nevsun Resources Ltd.’s (“Nevsun” or the “Company”) 2012 third quarter Management Discussion and Analysis (“MD&A”), which can be found at www.nevsun.com/investors/financials. 8 6 1 0Read More »
SOUTH BOULDER PROPOSES A 50/50 PROFIT SHARE FOR COLLULI POTASH PROJECT IN ERITREA November 4th, 2012 South Boulder indicated that Colluli has now a 1.08 billion tonnes of 18% grade for 194 million tonnes of contained potash which is an 85 percent increase in reservesBy South Boulder Mines,South Boulder Mines Ltd (ASX: STB) (“South Boulder” or “The Company”) wishes to provide an update on negotiations with the Eritrean Government regarding its participation interest in the Colluli Potash Project.In March 2012, South Boulder provided the Eritrean National Mining Corporation (“ENAMCO”) with a proposal for ENAMCO to acquire a 30% paid participating interest in the Colluli Potash Project (in addition to ENAMCO’s right to a free-carried 10% interest). 47 25 8 0Read More »
CHALICE INTERSECTS MASSIVE SULPHIDES AT MOGORAIB NORTH October 31st, 2012 New massive VMS zone similar to Bisha mine discovered at Mogoraib North ProjectBy Equities.com,Chalice Gold Mines Limited (ASX: CHN; TSX: CXN) is pleased to advise that it has intersected a zone of massive pyritic sulphides with significantcopper and zinc values in drilling at its Mogoraib North Project in Eritrea, East Africa (Chalice – 60%; Eritrean National Mining Corporation (ENAMCO) – 40%).Diamond drill hole MOGD-00021, part of a regional drilling program targeting potential Volcanic Hosted Massive Sulphide (“VHMS”) systems similar to the world-class Bisha Mine 9 4 2 0Read More »
ETHIOPIAN EUFF REBELS BOMBED ADIGRAT PRISON, FREED POLITICAL PRISONERS November 4th, 2012 The Ethiopian Unity and Freedom Force (EUFF) Rebel group claimed responsibility for the attackBy Getahune Bekele,The ruling minority junta in Ethiopia has suffered the first real taste of what is to come, on Wednesday 31 October 2012 when a powerful explosion flattened the heavily guarded maximumsecurity prison in the heart of the iron curtain province of Tigray, the late genocidal tyrant, Meles Zenawi’s home province.The notorious Adigrat prison has been home to more than 1300 key political prisoners detained during the 2005 nationwide anti Zenawi uprising.According to several reports, more than 40 political prisoners have escaped and the death toll currently stands at 14. 231 188 1 0Read More »
Construction on Dahlak Resort Nearing Completion0Published on 4:03 AM Category: Development, Eritrean News
The luxurious Dahlak resort, which is financed by Qatari Dirar, is set to be in operation within the immediate future. The resort is part of a grander master plan the Government of Eritrea envisions for the island that will include five high-end resort villages connected by a central core town.
Construction of the five-star resort began in 2007 by Kuwait First Logistic Company (KFLC), a firm appointed by Qatari Diar, while the engineering supervision task was awarded to EDESSA group, a Lebanon-based company that's working on several projects in Eritrea.
Following a labor dispute in 2008 by KFLC, all construction on the island stopped and their contract with Qatari Diar was terminated. Construction resumed in early 2009, after Qatari Diar signed a joint venture agreement with the French construction company, VINCI.
The 48 million dollar resort features 2 high luxury 850m² villas with swimming pools, 50 bungalows, a club house, roads, network utilities, landscaping, helipad, desalination plant, staff housing, kitchen, laundry and other amenities.
Dahlak resort Dahlak Kebir's 5-star resort
Dahlak resort helipadA map showcasing Dahlak Kebir's Master Plan locationsSponsored Ads
Received on Fri Nov 09 2012 - 23:30:24 EST
