The Okote site in Ethiopia’s Oromia region has more than 550 tons of gold, of which 73 tons may be ready for extraction within 24 months, according to National Mining Corp. - a company majority-owned by Ethiopian-born Saudi billionaire Mohammed al-Amoudi. (Photo: Live Trading News)
Bloomberg News
By William Davison
May 30, 2012
National Mining Corp., a closely held company majority-owned by Saudi billionaire Mohammed al-Amoudi, said it has 128 tons of gold ready to be mined at its Okote project in south Ethiopia.
“With very little exploration work and by undertaking a definitive feasibility study the reserve could be turned into a big mine,” the Addis Ababa-based company said in a statement e- mailed today.
Read more at Business Week.
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Related:
Saudi Star Offers Jobs to Overcome Criticism of Ethiopia Project (Bloomberg News)
