Eritrea’s Economy to Grow by 7.5% in 2012 – IMF

Eritrea's Macro-Economic Stability Continues to Gain Momentum

By Madote,

Eritrea’s economy is projected to grow by 7.5 percent in 2012, according to the International Monetary Fund (IMF).

Driven largely by an increase in major infrastructure development, solid agriculture output and mineral exports, forecasts taken from World Economic Outlook (WEO) released by the IMF on April 17, 2012, reveal Eritrea will register the fastest-growing economy in East Africa this year. Continue reading

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Seattle Mayor Proclaimed May 24, 2012 as Eritrean Independece Day

I, Mike McGinn, Mayor of the City of Seattle, Do hereby proclaim May 24, 2012 as ERITREAN INDEPENDENCE DAY and ask residents of all backgrounds to celebrate it accordingly.

Thanks Mayor Mike McGinn. You made history to yourself and to your city. You make us all Proud!

By Madote,

Michael McGinn, the Mayor of Seattle, proclaimed his city will officially recognize May 24, 2012, as a day of celebration by all citizens in honor of Eritrean independence day.

Recognizing the significance of May 24 to his Eritrean constituents, the first-term mayor signed legal documents last Monday making May 24 a day of celebration to honor Eritrean independence day and called on Seattle citizens of all background to join in on the festivities.

With slightly over 5,000 Eritreans calling the Emerald city home, Seattle, after Washington, D.C. and Oakland, has the highest number of Eritreans living in the United States. Continue reading

Nevsun Generates $149.4m in Q1 2012; Production Forecast Raises by 25%

Tricky ore that led Nevsun to diminish golden expectations in upper oxides now lifts them back up

By Carrie White,

Vancouver-based Nevsun Resources (TSE:NSU)(AMEX:NSU) said Wednesday it posted strong first quarter results, and raised its gold production forecast for 2012 to 260,000 ounces.

Shares rose nearly five percent on the back of the news, trading at $3.39 early Wednesday morning.

The gold and base metal explorer/developer is currently focused on advancing its high grade gold, copper and zinc Bisha Project in Eritrea. Continue reading