Eritrea: Mining opportunities for international companies

Eritrea, the mine of Bisha

Eritrea: le miniere opportunità per le imprese internazionali wwwadnkronos.com

The potential of mining industries in Eritrea are very highly rated: today on its own, the mine of Bisha, situated in the outback of this African country that looks out on the Red Sea, represents 3,5% of the gross domestic product (G.D.P.) of the Country. Very soon the Zahra mine will start up giving production a huge boost. This potential offers good prospects for international investors, including Italy due to the fact that exploration possibilities are still not finished.

The Eritrean Economic Affairs Minister Hagos Ghebrehiwet wishes to underline how the government of Asmara after having conceded 60% of the Bisha mine to Nevsun, a Canadian company listed in the stock exchange, is now the less still open to any new partnerships with international investors to increase this industry as it is of vital importance to the Country.
The head of diplomacy for the United States of America in Asmara has described all the potential of the mining industry in Eritrea after having visited the Bisha mine together with a diplomatic delegation from the European Union, Canada, Germany, South Africa and Great Britain.

“The visit has been a real eye-opener said the US Diplomat after the Visit, Bisha is a very modern and functional site that gives labor to 1400 people of which 90% are Eritrean. 20% of the workers are women. One of these women started work as a waitress and now she drives a huge truck made by the American Caterpillar Co. Moreover the mine pays its workers the highest wages throughout the country with international security levels, compared to those in the United States and Canada”.

The Bisha mine started off extracting gold (fourth in Africa), then as the time went by, it found silver then copper and zinc. Everyday dozens of trucks leave the mine, which is to be found in semi desert part of inland to take their loads to the port of Massawa where they are loaded on ships for international destinations.

The managing director of Bisha Mining Mr. Ed Mountey said, all those that have invested in us are surely very satisfied. I have been here for the last 3 years and everything has gone as programmed. We are having profits. I may add that not only have our investors gained from us, but also the population and Country.

As Ethiopia has not respected the agreements of Algeri, and not even the UN resolutions, Eritrea lives in a permanent state of alert. Is security a problem for the mining industry? Once again the managing director of Bisha Mining says “Eritrea is a very safe country, so in Bisha we have never had any problems as such, our workers and all our products travel in complete safety. As for internal security we have our own hospital within with a fully equipped ambulance, so the health and safety of all who work within is guaranteed”.