East Africa Metals
East Africa Metals has received the final payment of US$600,000 from Tibet Huayu Mining as part of the of purchasing a 70% interest in the Adyabo Project.
The East Africa Metals agreement pertains to the development and operation of the Adyabo Project’s Mato Bula and Da Tambuk deposits in Ethiopia.
East Africa Metals has received approval of mining licenses for the Mato Bula Gold Copper and Da Tambuk Gold Deposits at its Adyabo project in Ethiopia.
East Africa Metals has executed a binding LOI with Tibet Huayu Mining Co. for the exploration, development and operation of its Ethiopian mining assets.
Features & Analysis
The Ethiopian Ministry of Mines and Petroleum has approved the mining agreements for East Africa Metals East Africa’s Mato Bula and Da Tambuk gold projects.
East Africa Metals has received Draft Model Agreements from the Ministry of Mines, Petroleum and Natural Gas for its Mato Bula and Da Tambuk projects.
TSXV-listed East Africa Metals has received approval from the Ethiopian Ministry of Mines, Petroleum and Natural Gas, MoMPNG, for the Environmental and Social Impact Assessments for its Mato Bula gold, copper and Da Tambuk gold projects.
The government of Tanzania recently established a Mining Commission in accordance with its new Mining Act. This means that the government can reinstate the issuing of mining licences following the enforcing of a copper and gold concentrate ban and some draconian amendments to mining policy and legislation.
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