Development

Reykjavik Geothermal, the Icelandic geothermal development company has agreed to develop as much as 1,000 megawatts of geothermal projects in Ethiopia over the next 10 years, according to Bloomberg.

Reykjavik expects to start drilling test wells next year, Chairman Michael Philipp told Bloomberg in an interview on September 27, in New York.

The plant will produce 10 MW by 2015, and a total of 500 MW by 2018. A second phase of the project may have a capacity to produce as much as 500 MW of energy. Ethiopian Electric Power Corp. has agreed to buy all the electricity under a 25-year contract, Bloomberg reported.

East Africa's Great Rift Valley, which stretches across eight countries, have an estimated 20 gigawatts of geothermal energy potential, according to data compiled by Bloomberg.

The project, which will be the largest geothermal power undertaking in the continent, is planned to be located in Corbet…

Ezana Mining Development plc is to build a 17.8 million US dollar gold plant in Tigray Region of Ethiopia. The new mine is expected to contribute to increasing the national revenue from the export of minerals. The mining development awarded the turnkey contract for the project Manhattan Corporation. The South African mining services provider will build a carbon-in-leach (CIL) gold plant in Northern Tigray. Ezana selected the contractor from four international companies who had responded to the tender it put out. According to the agreement signed between Ezana and the contractor its tasks will include design engineering, procurement, shipment, construction, installation, implementation and after-sales skills development. It is to be remembered that the mining development company signed an agreement with the Ethiopian Ministry of Mines earlier this month. The agreement was signed between Sinkenesh Ejigu, Minister for Mines and Ataklit Araya, General Manager of the…

Icelandic Company to Develop Geothermal Power in Ethiopia

Ezana Mining to build $17.8 million Gold Plant