Eritrea ranks 77th in the World for its mining projects

Eritrea ranks 77th in the World for its mining projects

Radio Erena: 03 March 2015

Bish

Eritrea takes 77th place among countries throughout the world and 14th place in Africa for its mining projects, reported international news media outlets.

According to the reports from the news media, Finland ranks first and Malaysia takes up the last place. And Eritrea’s 77th place in 2014 is way behind reported 2013’s 48th rank. This is believed to have been caused due to lack of insurance on investment and unrestricted government regulations and policies.

 

South Sudan, Zimbabwe, Nigeria, Sudan, Central African Republic, and Ethiopia are reported to be among the last 10 countries with minimal mining projects in the continent.

In similar news, Nevsun Resources company CEO – Cliff Davis has reported a $166-Million-Dollar-revenue from its 2014 Copper mining project in Eritrea.

Davis has also stated Nevsun has increased its capital in 2014 to 520 Million US Dollars off which 440 million is in cash.

The Eritrean mining projects, which is strictly controlled by the office of the President, is criticized by many for its unaccountable and non-transparent operations that has been opening doors for series of corruption.
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