RE: BAD NEWS2 Feb 2022 12:27
Following further discussions, the Minister of Mines issued his final letter in Writing on January 4, 2022, he announced that no further extension would be granted to the company.
The company's vice president, Pil. In a letter dated January 28, 2022, he said, "We regret the decision of the Ministry of Mines in light of our longstanding relationship with the Government of Ethiopia."
The vice president also mentioned that the contract could be extended due to overcrowding and that the covine epidemic was one of the coercive conditions, adding that the coercion was continuing.
However, the Ministry of Mines announced the final decision and said that the company (New Age) will hand over all its assets in the Ogaden mine to the Ministry of Mines and leave Ethiopia.
It is learned that the company's office in Ethiopia represented officials in handing over the company's assets in the Ogaden to the Ministry of Mines.
It is well-known that many companies that have been licensed for ten years or more to develop the country's mineral resources will retain their mining licenses for a few years instead of developing them.
Takele (Engineer) has been focusing on these companies since his appointment as Minister of Mines
According to the Ministry of Mines, a British company, New Age, is in the process of selling a 50 per cent stake in its natural gas production in the Ogaden.
According to sources, the Ministry of Mines is awaiting a decision on the legal status of the contract before the Ministry of Mines decides on the fate of the Poly GCL company.
In addition, British mining giant Yara, which has been licensed to produce gold in Welega Tulu Kapi, and Afar potash mining companies, are just a few of the prominent companies that have received final warnings.
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