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

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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