Mining deal China-Ethiopia - The Ethiopian Mines Ministry has signed an agreement with a private Chinese mining firm, C.H. Clinker, which plans to produce 10,000 tonnes of cement daily, state media reported Wednesday. The Ethiopian Mines Minister Sinknesh Ejigu, and C.H Clinker's Managing Direct or Liu Yan Ling, signed the agreement, offering exclusive rights to the firm to exploit some 12.3 million tonnes of limestone for 20 years.
'The licensee has an exclusive right for large-scale mining of limestone within the license area,' the state-run Ethiopian News Agency (ENA) reported.
The Chinese firm has already invested some 500 million birr (US$ 31 million) for its initial mining operations, which would help the rapid economic expansion in the East African nation, currently witnessing a building construction boom.
The Chinese firm has already finalized the construction of its plant, located in north Shoa, in the greater Oromia regional state, some 175 kms outside the capital, Addis Ababa.
Ejigu said the firm would employ 300 people once it reaches its full production capacity.
The Chinese firm plans to produce clinker for both the Ethiopian market and export.
French cement firm, the Lafarge group, is also reportedly building plant in the north Shoa region, to exploit what is believed to be a large deposit of limestone.
Ejigu said Ethiopia had licensed some 85 firms to explore and exploit minerals.
The minister said the government policy of luring foreign mining firms was paying off, mainly because of the government's sound mining and investment policies.
The Chinese firm, which is registered locally, hopes to invest 6 billion Birr (US$ 375 million) in its entire mining operation.
Addis Ababa - Pana 11/11/2010
Source: Afriquejet.com
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