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Blood Money

MISSED OPPORTUNITIES TO DEMONSTRATE AT PDAC 2013 TORONTO

We Eritreans missed A golden opportunity to demonstrate at the PDAC International Convention, Trade Show & Investors Exchange is the world’s leading Convention for people, companies and organizations in, or connected with, mineral exploration. The four-day annual Convention held in Toronto in March of every year, for the world’s mineral industry. In addition to meeting over 1,000 exhibitors, 30,369 attendees from 125 countries, it allows you the opportunity to attend technical sessions, short courses as well as social and networking events.

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NSU Blood Gold

U.S. should deter foreign mining in Eritrea-report

* Accuses Eritrea of religious freedom abuses

* Calls for hardening of U.S. policy

* Eritrea denies abuses, foreign miners reject call

Some 16 foreign mining companies are operating in the Red Sea state. Canada's Nevsun Resources Ltd <NSU.TO> is expected to be the first to start producing gold later this year, followed some 12 months later by Australia's Chalice Gold Mines <CHN.AX>.

No U.S.-based mining company is operating in the country but analysts say an aggressive stance in Washington would heap pressure on Australia and Canada among others to follow suit.

"The U.S. government should ... prohibit any foreign company's raising capital or listing its securities in the United States while engaged in developing Eritrea's mineral resources," USCIRF said in its report released this month.

The government-funded commission was set up under the 1998 International Religious Freedom Act to give independent advice to the White House and Congress and make policy suggestions.

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NSU Blood Gold

Poor Eritreans increasingly joining gold rush

More than a dozen foreign mining firms are now working in Eritrea, but poor villagers in the Red Sea state's remote lowlands are also increasingly using their bare hands to claim some of the riches.

National service is mandatory for young Eritreans, and when someone will be granted "demobilization" is often unknown. Some Eritreans spend most of their adult lives in national service, whether in the military, building roads or working in cafes.

Mining company officials say the groups of impoverished Eritreans who search for gold on their licences use primitive and often unconventional methods.

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NSU Blood Gold

UN sanctions no deterrence for Eritrean mining-Bisha

ETHICAL DILEMMA?

Asmara is accused by the United Nations and others of fuelling the chaos in Somalia -- where 18,000 people have died in violence since the start of 2007 -- by sending funds and arms to rebel groups battling the UN-backed transitional government.

Sanctions include an arms embargo, travel bans and asset freezes. They do not target the interests of mining companies operating in Eritrea, where licenses are held by groups from Australia, Canada, China, Libya and the United Kingdom.

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Nevsun Resources Ltd.: Bisha Debt Facilities Reconfirmed

Nevsun Resources Ltd. (NSU-TSX/AMEX) is pleased to advise that the Industrial Development Corporation Limited of South Africa (“IDC”) has re-confirmed its commitment to provide $89 million in project debt facilities to the Bisha project in Eritrea.  In July 2009 the Company signed extensive loan documentation with IDC and a group European lenders for the funding of the Bisha project via debt facilities.  The Company is waiting for European lenders to also reconfirm their commitment on the balance of the facilities agreed to at that time.

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company news image

Sunridge Gold's 2010 Exploration Plans for Asmara Project, Eritrea

Press Release Source: Sunridge Gold Corp. On Tuesday December 29, 2009, 8:00 am EST

VANCOUVER, BRITISH COLUMBIA--(Marketwire - 12/29/09) - Sunridge Gold Corp. (TSX-V:SGC - News) ("Sunridge") believes that the sanctions imposed on the State of Eritrea on December 23, 2009 by the United Nations Security Council will have no affect on the Company's activities in the country. The Company is planning a significant 2010 exploration and drilling program for its Asmara Project which will begin with the commencement of drilling of the large and previously undrilled Daero Paulus target in mid- January 2010, part of the Antofagasta joint venture ground. In addition further drilling is planned at the Debarwa Deposit with the objective of increasing the size of the deposit.

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UPDATE 1-Eritrean turmoil weighs on Nevsun shares

* Nevsun stock tumbles more than 14 percent

TORONTO, Dec 24 (Reuters) - Nevsun Resources <NSU.TO> insisted on Thursday its Bisha gold project in Eritrea would proceed as planned despite United Nations sanctions against the African country.

Nevsun shares tumbled more than 14 percent following the sanctions, despite its assurances the U.N. actions -- including travel restrictions and asset freezes -- should not have any direct impact on the company or the project.

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company news image

UN Sanctions may affect Canada's Nevsun, foreign companies

(Reuters) Eritrea's most advanced project is Bisha, run by Canada's Nevsun Resources Ltd (NSU.TO: ??). Its 27 million tonnes of ore are believed to contain 1 million ounces of gold, 700-800 million pounds of copper and 1 billion pounds of zinc.

The momentum towards imposing sanctions on Eritrea for its alleged role in war-torn Somalia has grown in recent months. It remains unclear how they may effect foreign companies, but according to one analyst, any disruption to the burgeoning mining industry would put pressure on Asmara.

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Nevsun completes C$32.775 mln private placement for Bisha gold-copper project, Eritrea

Nevsun Resources Ltd (TSX/AMEX: NSU) said it has  completed its non-brokered private placement financing of 11.5 million common shares at C$2.85 announced last week, raising C$32.775 million.

The net proceeds from the offering will be used for general working capital purposes, including exploration and development of the Bisha high grade gold, copper and zinc project in Eritrea.

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Blood Money

Eritrea readies first goldmine

"Its dictatorial ruling regime, which is in urgent need of dollars from mining, has also awarded exploration licences to eight new foreign companies eager to prospect close to Africa’s Red Sea coast."

War and government economic controls have limited the Eritrean private sector’s ability to generate foreign currency income and the country is one of the last unexplored frontiers in African mining.

In a break from its credo of self-reliance, the regime of President Isaias Afewerki has turned to foreign companies for capital and ex­pertise to develop its gold, zinc and copper deposits.

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Blood Money

Sub-Sahara, Chalice merger to fund Eritrea project

Sub-Sahara's Zara project has an estimated 1 million ounces of gold in the west of the Red Sea state, where international prospectors expect large precious gold and base metal finds.

"The proposed merger will combine Chalice's strong cash position of over 10 million (Australian dollars) with Sub-Sahara's 69 percent interest in the high grade Zara Gold Joint Venture in Eritrea, East Africa," the companies said.

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Simon Stocker, Director of Eurostep

EU seeds Eritrea’ dictators with blood money

The European Union’s approval of the a 122 million Euro in development aid package for Eritrea sends the wrong signal to the brutal regime in Asmara, in a country run by an oppressive dictatorship where human rights are systematically violated and its impoverished people live in constant fear it is difficult to understand the EU’s decision. Given the blatant disregard that the Eritrean regime has for the legally binding principles set out in the Cotonou Agreement Eritrea, it is in clear breach of legal obligations required to receive this.

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Asmarino Fundraising! Simply because there is so much more to be done!

Asmarino is one of the earliest and pioneering websites that has been providing media service to Eritreans at home and in Diaspora for the last 15 years.

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16.04.2014 المنتدى

ድምጺ መድረኽ - 15.04.2014

ድምጺ መድረኽ - 13 04 2014 (corrected)

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