Financial Times FT.com

Eritrea readies first goldmine

By Barney Jopson in Asmara

Published: September 15 2009 17:46 | Last updated: September 15 2009 17:46

Eritrea, one of the most closed corners of Africa, has said its first goldmine will begin production next year as the impoverished country races to develop.

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.

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