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East Africa Metals on schedule in Ethiopia despite unrests

Vladimir Basov

Kitco News

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(Kitco News) - East Africa Metals (TSXV: EAM) today provided an update on the status of development programs on the company's Ethiopia projects.

The company said that Tibet Huayu Mining, EAM's operating partner for the Adyabo projects, has been prepared to initiate the development of the Mato Bula and Da Tambuk mines since November 2020, when COVID travel restrictions were projected to be lifted and the mobilization of staff and equipment to site was expected to commence.

EAM added that this mobilization effort was further delayed by imposition of a state of emergency in response to conflict between the Ethiopian Federal Armed Forces and the Tigrayan People's Liberation Front.

According to statements released by Ethiopian government, security has been re-established in the Tigray region and current activities are focused on facilitating a return to normalcy.

The company said that construction and production plans remain unchanged, with the start of construction now anticipated in early 2021 with a one-year construction timeline to complete the parallel development of both mining operations.

By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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