South African mining firm by the name Altus Strategies PLC, has been given the license to explore gold in Ethiopia. The company, experienced with exploring gold, silver, copper and other natural resources in Ethiopia, Morocco, Liberia and Cameroon, will now undertake the exploration work in Daro, Tigray State.
Daro is 100 kilometers northwest of Tigray’s capital, Mekelle, and 570 kilometers from Addis Ababa. The license is said to cover 412 kilometers of exploration area and it lasts for 3 years with the option of being renewed 7 times every consecutive year. Upon every renewal year the license’s scope decreases by 25 percent.
The South African company chose Daro as its destination after conducting investigation in the area. Various study methodologies is said to have been utilized. This includes assessment of mineral distribution and collection of geological as well as satellite data of the area.
According to Altus Strategies, a first phase inspection program of the area will immediately map and sample the mineral content of the area.
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