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Eritrea: Ministry of Energy And Mines And Bisha Mining Corporation Sign Agreement On Issuance of Mining License
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Shabait.com (Asmara)
12 December 2007
Posted to the web 12 December 2007
Asmara
The Ministry of Energy and Mines and the Bisha Mining Share Corporation signed an agreement on the issuance of a mining license.
Speaking at the signing ceremony, the Minister of Energy and Mines, Mr. Tesfai Gebreslasie, pointed out that the agreement is mutually beneficial for both sides and fully complies with the laws of Eritrea.
Expressing hope that the Bisha Mining Corporation, as the first corporation of its kind in the country, would undertake exemplary activities, Mr. Tesfai called on it to strive to introduce technology and professional skills to Eritrea in accordance with the agreement. He also assured that the Eritrean government would do its level best to assist the project.
The Manager of the Corporation, Mr. Stanley Rogers, on his part said that the Corporation would work diligently on the basis of the agreement reached. Expressing readiness to transfer technological advancements and skills to Eritrea, he thanked the Eritrean government for extending the necessary collaboration.
The agreement was signed by Minister Tesfai Gebreslasie, on the Eritrean side, and Mr. Stanley Rogers, on the Corporation side.
On the basis of the previous agreement, the Eritrean government would have 40% ownership in the Bisha Mining Corporation.
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It is to be noted that the Bisha Mining Corporation has been set up by the Eritrean National Mining Corporation and the Nevsun Mining Corporation of Canada.
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