Circum Minerals completes Definitive Feasibility Study on Danakil project
Circum Minerals Limited, a 2% owned subsidiary of Premier African Minerals Limited, released details of its recently completed Definitive Feasibility Study on its potash project in the Danakil Basin in Ethiopia.
Essel targets potash licence in Eritrea
Turbines at Gibe III to begin trial production of electric power
Water, Irrigation and Energy Minister, Alemayehu Tegenu, told FBC yesterday that the hydropower dam, which is in the verge of completion, stored water that enable it to commence trail production.
Installation of turbines for the 1,870 megawatt power plant is underway. The plant will have 10 turbines that generate 187-megawatt each.
According to Alemayehu, three of the turbines are currently readied for power generation. The fourth turbine is also nearing completion.
If the trail is successful, the power plant will start generating 500-megawatt electricity this month; if not next September, he said
If sufficient water is available until the coming December, all turbines will begin power generation, he said
Gibe III will be the largest of all the hydropower plant that went operational in the country so far.
Launched five years ago at a cost of 1.8 billion US dollars, Gibe III hydropower dam is now more than 98 % complete, it was noted.
Ethiopia clears Indian firm to mine marble
An Indian company has been cleared to mine marble in Ethiopia’s regional state of Benishangual-Gumuz, APA can report Monday.Samaka Stones Private Limited Company has reportedly allocated close to $2.9 million to commence the production of 131,600 cubic meters of marble annually. Ethiopia’s State Minister of Mines Dr. Alemu Sime and Samaka Stones PLC General Manager, Moju Sambeswar Monday signed the agreement in the capital, Addis Ababa. The agreement concluded would give Samaka Stones an exclusive right to carry out large-scale mining within the license area for the coming 20 years. â€œWe believe the marble production by Samaka Stones PLC would contribute to the ever growing demand of marble by the booming construction industry apart from earning of foreign currency, knowledge and technology transfer,â€� Dr. Alemu said He further pointed out that the government is committed to providing the necessary support and creating conducive environment for investors who want to engage in the sector. Samaka Stones PLC General Manager, Moju Sambeswar said his company will perform to fulfill the demand triggered by the huge infrastructural work in the country. http://en.starafrica.com/sport/ethiopia-clears-indian-firm-to-mine-marble.html
The Economist’s Summit hopes to showcase Ethiopia’s potential
|By Eskedar Kifle|
|Monday, 10 August 2015|
|Ethiopia’s GDP per capita is expected to grow by 37 percent between 2015 and 2019, according to the Economist Intelligence Unit. This was stated during a press conference held on Thursday, August 6, 2015 at the Sheraton Hotel to announce the Economist’s Ethiopia Summit, which is scheduled to be held from October 28 to 29. The summit is expected to have an attendance of over 250 participants and is set to be officially opened by Prime Minister Hailemariam Dessalegn. “This is a very exciting time for Africa. We talk a lot in The Economist, Europe and the Americas about the next billion consumers and how much influence and potential there is going to be in Africa. Ethiopia, with its huge population and consumer market represent 10 percent of that, so this country is obviously going to play a very important role in Africa’s growth. The positivity we have felt in this city especially, on the economics and business side things, is really going to be captured at the summit we will be holding here in October,” said Michael Oakes, Head of Programs at The Economist Events. Oakes further stated that the upcoming event features many high-level officials who will be discussing the Ethiopian economy and the massive opportunities it presents. “From our Economic Intelligence Unit, when you look at East Africa, foreign direct investment flows increased to USD 6.8 billion in 2014, of which USD 1.2 billion went into Ethiopia, which reflects the huge interest in this country, and we feel that that number should and will be higher,” he said. According to the Economist Intelligence Unit, Ethiopia’s GDP is forecasted to grow on average by 7 percent annually in the periods between 2015 to 2019. “We think the figure could and should be much higher, but actually 7 percent is pretty good, especially compared to Europe. A lot of this growth is from the agricultural sector, which is expected to grow by 7.7 percent in the forecasted period,” Oakes said. Among the several points of discussion at the summit will be the challenges in the Ethiopian banking sector, which is currently closed for foreign investment. The energy sector will also be given attention through several discussions with panelists including Brian Herlihy, CEO and Founder of Black Rhino, as well as Tewodros Ashenafi, founder and CEO of Southwest Energy. http://www.capitalethiopia.com/index.php?option=com_content&view=article&id=5351:the-economists-summit-hopes-to-showcase-ethiopias-potential-&catid=35:capital&Itemid=27|
Energy talks to be held in Ethiopia in October
Ethiopia wants to raise mining profile
Edible oil processing factories increasing
Dutch, Indian Companies Engage in Floricultural Development