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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.

The project is developed with the Eritrean government as a partner. The project has 27.2 million tonnes of measured and indicated resource and 11.7 million tonnes of inferred resource , 43-101 compliant. The mine is expected to start producing gold in Q3 2010, with a 10 year mine life.

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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.

The first commercial production is due to begin in the third quarter of next year when the Bisha mine opens on a site in western Eritrea that contains nearly 1m ounces of gold, said Alem Kibreab, director-general of mines at the Ministry of Energy and Mines.

Bisha is being developed by Nevsun Resources, a junior mining company listed in Toronto, which has a 60 per cent stake in the project. The remaining 40 per cent is held by Eritrea’s state-owned mining company. Beneath its layer of gold the site has about 700m pounds of copper and 1bn pounds of zinc.

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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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All writings that are not addressed to these email addresses are not going to be read or posted.

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Update on Famine Situation

Update on Famine Situation  The conditions in Wi’a concentration/training camp in the past 7- 9 months have worsened more than any other time. Food rations were reduced further to 3 pieces of sorghum bread per person per day without any supplements such as sauce except limited ration of tea. The shortage of food is compounded by the closure of the camp for family visits which used to facilitate the supply of food from families and relatives to the prisoners/trainees. The shortage of food combined with the very poor sanitation conditions, harsh environmental conditions, fatigue resulting from training exercises and almost non-existent health facilities and health care services in the camp has lead to sustained outbreaks of meningitis, typhoid and scabies resulting in alarming mass deaths.
                    
Most of the deaths are mainly attributed to meningitis. Meningitis has been in the camp even before three years and had killed many but it has never been in this scale before. The death rate increased from June onwards and continued at alarming rate until the camp was closed in September. After hesitating for long, the government has finally decided to close the camp as an emergency measure after many (estimated to be in hundreds) have died. It is difficult to know how many have exactly died but sources from the camp tell that initially 37 people have died in the spot without being transferred to the Gedem military hospital near Massawa. Hundreds were transferred to Gedem hospital but the majority of them have not survived indicating that the death toll is in hundreds.
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Hoping for a sign

Hoping for a sign

Eight years is a long time for me. It is considerably longer for Dawit. In those eight years that they took away from my brother, I have got so many new friends. I got myself a wonderful and caring girlfriend, with whom I am happily living now. And now, to top it all, I have got a lovely daughter. And what is more, these last eight years I have been moving and speaking freely – something that I don’t take for granted any more. And yet, I can equally say they have been the most painful years of my life; that is because I could not be with my beloved older brother. It pains me so much not having him by my side. If I am this much in pain, imagine what my brother Dawit must be feeling; this must be a complete nightmare for him.

In one of the articles that Dawit wrote in 2001, he asked, “Why does the PFDJ prefer silence?” Now I am asking the PFDJ not to be silent, and imploring it to give us a sign of hope.

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Eritrean interests “well represented” at EU Meeting

Eritrean interests “well represented” at EU Meeting

    European and American officials are joining hands with Diaspora Eritrean politicians and activists aimed at ending relentless human rights abuses under a ruthless dictatorship in Eritrea. The two-day conference underway in Brussels is discussing, among other things, the urgent need to coordinate EU and US policies on Eritrea and the Horn Region. The meeting is being closely watched by many governments and the world media especially because of Eritrea’s alleged involvement in terror and piracy ridden Somalia. Michael Abraha had a phone interview Saturday with Abdurahman Sayed, Executive member of Citizens for Democratic Rights in Eritrea (CDRiE) and spokesman for the Eritrean group at the Brussels event. Michael first asked him what the criteria were to choose panelists for the conference:

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Eritrean Journalists Thank Swedish Pen

 Eritrean Journalists Thank Swedish Pen  The Association of Eritrean Journalists in Exile (AEJE) would like show its gratitude to the Swedish PEN for presenting the Tucholsky Award to our compatriot, Mr. Dawit Isaak who has been in Eritrean jail since September 23, 2001. This award is another remarkable addition to the serious of tireless efforts and achievements of Swedish human right groups and NGOs to take up the cause of freedom of expression in Eritrea in general and the case of Dawit Isaak in particular. It can be recalled that last month, Dawit Isaak had been honoured to be a finalist for European Union’s Sakharov Prize.

We exiled journalists can’t miss the symbolism of the prestigious Tucholsky Award. We acknowledge that this award not only highlights the persecution of Mr. Dawit Isaak and his fellow colleagues but it also recognizes the struggle of Eritreans for democracy and justice.

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Eritrea sanctions planned

Eritrea sanctions planned

A draft resolution, seen by AFP, was circulated on Wednesday by Uganda, part of a six-nation east African regional bloc that has been calling for months for sanctions to be imposed.
There will be no vote on the proposal before December to give time for experts and ambassadors from the 15 members of the UN Security Council to debate the move, diplomats said on Thursday.

The draft foresees a ban on weapons sales both into and out of Eritrea as well as freezing the funds of the "Eritrean political and military leadership" and restricting its foreign travel.

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ERITREA MEDIA WATCH

ERITREA MEDIA WATCH

Eritrea’s Lingering Malnutrition

Awate.com’s Divisive Publications

The only leader who thinks it is o.k. to preside over a nation with the worst record in press freedom is Eritrea’s strongman Isayas Afewerki. He argues there is no such thing as “free press”. Of course there isn’t. But the rest of humanity agrees it is vital to have systems which enable people to freely express ideas and exchange information. “Free press” is not an absolute standard but is meant to serve as a guideline in the establishment of free and united communities. Even Denmark at the top of the list of 175 countries does not have a perfect “free press”. But it is striving towards that goal. And it is never too late for Eritrea to join the civilized world in the fight against darkness. Repression and ruthless censorship create intellectual retardation and hinder progress.

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UN Sanctions may affect Canada's Nevsun, foreign companies

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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Asmarino Arabic Pages Starting Next Week

Asmarino Arabic Pages Starting Next Week

We are glad to inform our Arabic-speaking audience that, finally, Asmarino.com is ready to start its Arabic Pages section no later than next week.
 
As you might have noticed the sign “Arabic Pages – Coming Soon” has been in Asmarino.com’s front page for quite some time. We understand that “coming soon” has not been soon enough. Hopefully, you will forgive us for holding you in suspense for such a long time.
 
Given that our staff works on voluntary basis, it is only understandable that it took some time to find dedicated and competent individuals who will soon be entirely at your service.

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