Eritrea Seeks Chinese Investment on Energy and Financial Sector: Shanghai Daily

Eritrea is calling on Chinese investors for more infrastructural investment as it seeks to grow the finance sector

With the growing cash flow from the mining sector, investment in the financial sector will be attractive and investors will benefit from a first-mover advantage

By Shanghai Daily,

SINO-ERITREAN business relations go back to the beginning of Eritrea’s independence, and in recent years, China has made significant contributions to the African country’s growth, especially in infrastructure, such as hospitals, roads, schools and other amenities. China also supports Eritrea in developing its industrial, agricultural and mining sectors.

As a virgin territory, there are significant opportunities for Chinese investors to participate in developing Eritrea’s potential across the board. Now, however, experts within the financial industry are calling for more investment in the country’s infrastructure; the knock-on effects of which will help this fledgling sector take flight. Continue reading

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Eritrea offers Excellent Incentives Combined with Stability and Security: Shanghai Daily

Eritrea’s Free Zone integration and expansion will bring benefits for the country and investors.

Whatever you can find in other Free Zones, you can find it here in Eritrea: Dr. Araya Tsegai

By Shanghai Daily,

Exciting developments are taking place in Eritrea’s free zones, which will make a huge impact on trade and productive output in the country. Like all free zones, businesses based within the Massawa Free Zones Authority and the Massawa Port Authority benefit from excellent conditions and incentives.

The Eritrean government is hoping this new integrated development will attract considerable international attention and business, as it upgrades the port and airport facilities at Massawa and Assab. Given the political and social upheavals in neighboring countries, Eritrea offers stability and security for investors. They also benefit from excellent road and sea links, and Eritrea’s strategic location on the Red Sea trading route — one of the busiest trading routes in the world. Continue reading

Eritrea Warns Cynical Posturing of Ethiopia, Urges UNSC to Fulfill its Responsibility

Staging the senseless and cowardly killing of innocent civilians to vilify Eritrea is not only morally reprehensible but it should not be tolerated any more: Osman Saleh

By Shabait,

The Eritrean Foreign Ministry, noting that the regime which continues to occupy sovereign Eritrean territories in lieu of its masters for more than 10 years rejecting the EEBC’s final and binding decision, is endangering the values of international laws and regional peace, and called on the Security Council to fulfill its responsibility in ensuring regional peace and territorial integrity of member states.

The Ministry in its message of 23 January noted that the defamation against Eritrea is part and parcel of the unprovoked hostility of the US Administration, and as the TPLF regime considers itself the courier, it puts Ethiopia as a stepping ground for destabilization; and “blaming Eritrea as the main culprit for the popular uprising is the result of such an erroneous strategy, which act is but risible and very difficult to fathom.” Continue reading

Investment, not charity, the key to future prosperity for Africa: President Afwerki

“We need investments, real investments. Charity is not going to save Africa, or transform Africa into a real market,” President of Eritrea Isaias Afwerki

Africa needs better partnerships, conducive investment atmosphere and a thriving manufacturing sector in order to prosper: PIA

By Shanghai Daily,

As the mining sector opens up, Eritrea looks forward to building a sustainable economy. “We need investments, real investments. Charity is not going to save Africa, or transform Africa into a real market.”

Speaking during an interview with Prisma Reports, in which he praised China’s business relationships in Africa, President Isaias Afwerki of Eritrea has outlined what he believes is the solution: better partnerships, conditions that are conducive to investment, without doubt – but also, importantly, a thriving manufacturing sector. Continue reading

Chalice Agrees Revised Terms with ENAMCO for Sale of 30% Zara Project

The Eritrean National Mining Corporation (ENAMCO) will make US$3M payment this week with balance due at completion of SFECO transaction

Eritrea agrees to pay US$34 than the previously agreed US$32m to Chalice under the the revised terms for its 30% share

By ASX,

Chalice Gold Mines Limited (ASX: CHN; TSX: CXN) advises that it has agreed to vary the payment and completion terms of its agreement with the Eritrean National Mining Corporation (“ENAMCO”) for ENAMCO’s acquisition of a 30 per cent interest in the Zara Gold Project in Eritrea, East Africa.

The variation is in line with the timetable for completing the proposed sale of Chalice’s remaining 60 per cent interest in the Zara Project to China SFECO Group (“SFECO”), announced last month. Continue reading

European Tourists Killed by Ethiopian Troops: ARDUF

An Ethiopian Afar rebel group, ARDUF, on its January 21 Military Communique squarely blames the killings of five European tourists on the Woyane troops and says Eritrea has nothing to do with it.

European Nationals were absolutely killed by the Ethiopian forces who were accompanying them: ARDUF

By Afar Revolutionary Democratic Unity Front,

MILITARY COMMUNIQUÉ

On Monday (16.01.2012) our forces killed 16 Ethiopian soldiers and wounded a dozen of them in a battle when the Ethiopian forces opened fire on our patrolling unit near the Arta-Ale Volcano in a place called Xoxom.

It was in this battle that the 5 European nationals were killed. We regret the death of those innocent civilians. ARDUF would like to convey its sincere condolence and sympathy to the families and relatives of dead peaceful tourists.  Continue reading

The World Class Colluli Potash Deposit (VIDEO)

Where would you find the world’s shallowest buried evaporite potash deposit? The answer is the Callolui Potash Project in Eritrea which is presently owned by South Boulder Mines (ASX:STB).