Ethiopia WOW!!!

[diabolical_Tanya]

ADDIS ABABA — Ethiopia on Tuesday announced the discovery of a mine containing more than 40 tonnes of gold deposit worth 1.7 billion dollars (1.1 billion euros).

The state-run Ethiopian News Agency reported that the new find, announced by the ministry of mines and energy, will require some 200 million dollars to extract and process.

"Geological survey indicates that... an estimated 500 tonnes of gold deposit is found in the country," the agency said, providing a figure for the whole of Ethiopia.

Some 44 companies are engaged in gold exploration, earning Ethiopia about 105 million dollars in export every year.

The Horn of Africa country has mineral resources that have so far remained unexploited.

Copyright © 2009 AFP. All rights reserved. More »

[Magician]

Re: Ethiopia WOW!!!

Good for them.
They need to hurry and mine it while the price of gold is up.

[Panajar]

Re: Ethiopia WOW!!!

<span style="font-size: 14pt">Mzungu will take that gold, either with a pen or a sword .</span> more fire pon exploita

[diabolical_Tanya]

Re: Ethiopia WOW!!!

well meeda haffie bun some fiyah pan Ethiopia if dem low dat fi happen

[Dr.Dudd]

Re: Ethiopia WOW!!!

Well at the US$ 1,000 per oz, it only take 5 tons to value US$1.6 billion, so what is the value of the other 35 tons?
You meanit only value another $100,000?

[Magician]

Re: Ethiopia WOW!!!

Dem ginnal from the start.

[Dr.Dudd]

Re: Ethiopia WOW!!!

Where is the armament factory in Ethiopia??
When Italy declared war on Ethiopia

The emperor send funds to Britain to buy weapons.

not only had the money, but they also invited the Emperor and kept him prisoners their while Italy massacre the Ethiopians


Who knew that? And Britain was supposed to be an ally of Ethiopia then.

Bun fiya p an dem yes!!
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Diabolical_Tanya</div><div class="ubbcode-body">well meeda haffi bun some fiyah pan Ethiopia if dem low dat fi happen :fiyah bun: </div></div>

[diabolical_Tanya]

Re: Ethiopia WOW!!!

\o/

[diabolical_Tanya]

Re: Ethiopia WOW!!!

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">Where is the armament factory in Ethiopia??
When Italy declared war on Ethiopia

The emperor send funds to Britain to buy weapons.

not only had the money, but they also invited the Emperor and kept him prisoners their while Italy massacre the Ethiopians


Who knew that? And Britain was supposed to be an ally of Ethiopia then.

Bun fiya p an dem yes!!
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Diabolical_Tanya</div><div class="ubbcode-body">well meeda haffi bun some fiyah pan Ethiopia if dem low dat fi happen :fiyah bun: </div></div> </div></div>


I stand by my origianl statement, if dem neva learn from them past mistakes then ...mi noh sarry fi dem

[blugiant]

Re: Ethiopia WOW!!!

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">Well at the US$ 1,000 per oz, it only take 5 tons to value US$1.6 billion, so what is the value of the other 35 tons?
You meanit only value another $100,000? </div></div>

babylon neva teech yu undacount blakk ting

[jah_yout]

Re: Ethiopia WOW!!!

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">Where is the armament factory in Ethiopia??
When Italy declared war on Ethiopia

The emperor send funds to Britain to buy weapons.

not only had the money, but they also invited the Emperor and kept him prisoners their while Italy massacre the Ethiopians


Who knew that? And Britain was supposed to be an ally of Ethiopia then.

Bun fiya p an dem yes!!
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Diabolical_Tanya</div><div class="ubbcode-body">well meeda haffi bun some fiyah pan Ethiopia if dem low dat fi happen :fiyah bun: </div></div> </div></div>

technically, all countries were barred from sending armaments to either ethiopia or italy...but since italy had arms manufacturing plants, the white powers knew that meant ethiopia would be denied arms- it was their plan from the start...little did they knew the little emperor would cause all of their lands to be engulfed in war...
gold is just a start...
there are many more surprises will come out of ethiopia as the scripture says 'ethiopia shall stretch forth her hands unto god'...
but all the careless ethiopians around the world will have to wise up in this time...yes I

[Derek]

Re: Ethiopia WOW!!!

I wouldn't be surprised if a proxy war broke out (China V US or Britain? Just like in Darfur) over who will control the gold.

[Wahalla]

Re: Ethiopia WOW!!!

PSA... Production sharing agreements... Ethopia keeps some the company takes profits....

And while there is the knee jerk reaction of Mzungu explotations.. But if you follow the news you would have noted that there are a number of non mzungu companies have been striding across Africa.. a $349 million Dollar loan from China just agreed...

I keep asking what alternatives proposed ????


Income from two new Ethiopian gold discoveries could total $1.7bn/y
British and Saudi companies have each reported finding important gold deposits in Ethiopia raisin government hopes of significant income from gold mining.
Posted: Sunday , 25 Oct 2009
ADDIS ABABA (REUTERS) -
Two mining companies have discovered gold deposits in Ethiopia that could yield up to 41 tonnes, a top government mining official said on Friday.
Gebre Egziabher Mekonen, head of the Mineral Operation Department in the Ministry of Mines and Energy, told Reuters the Golden Prospecting Mining Co., a British firm, had found a deposit of about 23 tonnes in western Ethiopia.
&quot;Discoveries by the British firm indicated that there is a viable prospect for gold mine development in the area. But it takes up to $200 million further investment to exploit the resources roughly within the next five to 10 years,&quot; he said.
Sakaro, a mining company operating under Midroc Gold Co., owned by Saudi business tycoon Sheik Mohammed Hussein Al Amoudi, has also discovered a new deposit estimated at 18 tonnes in the Lege-Dembi gold belt, Gebre Egziabher said.
The Golden Prospecting Mining discovery is at Tulu-Kapi, about 450 km (279.6 miles) west of the capital Addis Ababa and near the border with Sudan.
The company is also exploring another site near Tulu-Kapi, which has indications of a separate reserve of 30 tonnes, Gebre Egziabher said.
Once the two proven gold deposits were developed into mines, Ethiopia's annual income from the sector could reach up to $1.7 billion a year at current prices, from the present $105 million a year, he said.
Ethiopia has earned $450.5 million from nearly 48 tonnes of gold exports in the last 10 years, according to statistics by the National Bank of Ethiopia.
The country says it has indentified possible reserves of up to 500 tonnes in different parts of the country.
Gebre Egziabher said 44 international and local companies were engaged in mineral exploration throughout the country.
The government issued mining regulations in 1993 giving foreign investors incentives such as duty-free imports of equipment and repatriation of profits.
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