Wednesday, 14th May 2008 (479 views)

The African state of Eritrea plans to have its first gold mine in production before the end of next year, according to reports.

News agency Reuters states the country's president, Isaias Afwerki, made the forecast, adding that the country has "huge" potential resources for development.

Mr Afwerki added that his government would work with foreign mining firms from countries such as Canada, Australia and China to ensure local people benefit from the arrival and growth of the mining industry.

"We need to be careful on how we use this resource for a sustainable course and development in this country. That resource is the property of the people," he said.

The agency adds that the Bisha gold project, operated by Canadian developer Nevsun Resources, is likely to lead off Eritrea's gold production.

The property is expected to produce approximately one million ounces of gold and other metals over a ten-year period, it added.

Eritrea is located in the Horn of Africa in the continent's north-east. It is recovering from a 31-year civil war that ended in 1991. The country shares its borders with Ethiopia, Sudan and Djibouti.

 

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