Eritrea Ranked 14th Mining Jurdistiction in Africa
Eritrean Miners at the Bisha plant
By CapEri
Canada’s Fraser Institute ranked Eritrea 77th in the World and 14th in Africa in its annual global mining survey 2014. The survey rates 122 jurisdictions around the world based on their geologic attractiveness and the extent to which government policies encourage exploration and investment.
Finland was placed first in the World overall earning high scores for having clear regulatory guidelines, an effective tax regime and a robust labor market.
Malaysia ranks as the least attractive jurisdiction for mining investment, followed by Hungary, Kenya, Honduras, Solomon Islands, Egypt, Guatemala, Bulgaria, Nigeria, and Sudan.
Amongst African countries, Eritrea ranks ahead of Kenya (120th), Mozambique (79th), Mali (82), Mauritania (87th), Uganda (92nd), Angola (93rd), Zimbabwe (100th), Niger (104th), Sierra Leone (105th), Lesotho (107th), Ethiopia (108th), Central African Republic (109th), South Sudan (110th), Sudan (113th), Nigeria (114th), Egypt (117th).
Eritrea ranks worldwide 77th (out of 122) in 2014 compared to 48th (out of 112) in 2013, a relative year-over-year drop. However, in the global comparison it is in the middle of the list and 14th place on the African continent.
According to Fraser, mining companies made the following selected comments about Eritrea,
“The decision to introduce mandatory government participation of 40% for any mining project … virtually eliminated the opportunity for intra-industry joint ventures and saw the immediate exit of the few majors prepared to handle the already significant political risk.” (Eritrea).
“Eritrea is free from corruption and has a clearly set-out legal framework which is followed to the letter.” (Eritrea).
The survey also showed that many African countries lag measures to attract mining investment and showcase their geological attractivness.
Six African countries—South Sudan (119th), Zimbabwe (118th), Nigeria (117th), Sudan (116th), Central African Republic (115th), and Ethiopia (114th)—ranked in the bottom 10 of the worldwide survey rankings this year.
Zimbabwe was amongst the bottom 10 in 2012/2013 and 2013. The greatest deterioration came from Nigeria, which dropped from 75th of 112 in 2013 to 116th of 122 this year.
Contributing to its decline was increased uncertainty concerning environmental regulations (-25 points), trade barriers (-9 points), and regulatory duplication and the legal system (each -8 points).
Ethiopia experienced a similar decline to Nigeria in its ranking. One of the selected comments made on Ethiopia by mining companies was;
“Inconsistencies between mining law and mining regulations; introduction of very high royalty rates.” (Ethiopia).
Kenya’s ranking plunged from 79th in the Fraser Institute’s 2013 survey to 112th in the most recent survey. The greater deterioration came from Nigeria, which dropped from 75th in 2013 to 116th in 2014.
Contributing to Nigeria’s decline was concerns regarding environmental regulations, trade barriers, regulatory duplication and the legal system.
Eight African jurisdictions were added to the 2014 survey, allowing Fraser to rank Central African Republic (109th of 122), Egypt (117th), Lesotho (107th), Mauritania (87th), Morocco (40th), South Sudan (110th), Sudan (113th), and Uganda (92nd) for the first time.
Eritrea was added to the survey together with Ethiopia, Fiji, France, Ivory Coast, Kenya, Liberia, Malaysia, Mozambique, Myanmar, Nicaragua, Nigeria, Portugal, Saudi Arabia, Sierra Leone, Thailand and Uruguay only last year.
Eritrea Ranked 14th Mining Jurdistiction in Africa
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ReplyDeleteRelative to mining, "Eritrea is free from corruption and has a clearly set-out legal framework which is followed to the letter.” ( At a minimum, 10% royalty plus 30% minimum Eritrean share in mining investment).
Of the 122 countries surveyed world wide, " The survey also showed that many African countries lag measures to attract mining investment and showcase their geological attractivness.
"Six African countries—South Sudan (119th), Zimbabwe (118th), Nigeria (117th), Sudan (116th), Central African Republic (115th), and Ethiopia (114th)—ranked in the bottom 10 of the worldwide survey rankings this year.
"The greatest deterioration came from Nigeria, which dropped from 75th of 112 in 2013 to 116th of 122 this year."
Here is a 23 years old country, Eritrea, teaching the Africans how build a nation brick by brick by demanding fare share in the use of here resources. That is the SHAEBIA way of building a nation.
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Long Live Shaebia and glory to the bigger than life Eritrean leaders!
betame des zebel hgdf for ever
ReplyDeleteHISROM:
ReplyDeleteI support your message.
2 Thumbs Up.
Sorry
ReplyDeleteMadote: please replace HISROM by HIDROM.
My fingers to too fat for my iPhone :)
Thank you.
X ሜን ዩ ኾን ኔቲ ክዳን ዝቄሬጾ፡ሃብትኹም ድአእምቤር እስዅም ሲ ድምሱሳት ኢኹም ትብል ሜልእኽቲ ቴቴሓላልፍ ትሜስል።
ReplyDeleteAsha eka nisika ..ab zikedkayo kit sheyin niesto ba hifir bel..afka kelby yishinelu! kemzi aynet dinkurina kua zyele.
ReplyDeleteCould you tell us what these words mean. What language did you use anyway.
ReplyDeleteYour words: ሜን.....ዝቄሬጾ፡.....ድአእምቤር.... ሜልእኽቲ.... ቴቴሓላልፍ.... ትሜስል።
By the way, how many pen names have you used this month only. It is more than 10 in one month. But why?
Oh I know you are all alone and if you use different pen names every day you truly believe you think "you are many". We know you are all alone. Let alone the mature and patriotic Eritreans, even the handful HASUS that you see in the streets of West are ashamed of your ignorance.
But if think you could mislead some, there is one thing you should do. That is, to learn to speak, read, and write in Asmarino Tigrigna. I am giving this advice for I feel sorry for you. I am not quite sure as to why but I feel sorry for you,
By the way, are you an AWAN or an idiot.
nice score, I'm convinced of the fact that being corruption free country we will be a model globally now and in future.
ReplyDeleteAre you sure about that? Thanks for the Swiss cables we know better know. 700 million dollars transferred from Eritrean in the name of private citizens tells a lot. No wonder that 4 years of mining revenues didn't change anything in the ground.
ReplyDeleteThat cable in general line say Eritreans account holders have 700 mln $, , it doesn't say this individual or that one, since we don't have evidence (name, surname ect) remain as legend.
ReplyDeleteWanting to attribute to gov. bodies is guessing. Guessing in the eyes of law, is called calumny "shem mehsas, be hegi yehetet iyu".
What we know for sure is that the money were transfered from Eritrean to Swiss account until 206/2007 by Eritrean passport holder. So unless it is someone from the government, there is no private business man who can have the fracition of that amount of money. And do you really think a private person can transfer so much dollar without the government knowledge?. This can only be done by approval of the president office who controll everything in the country. Hence the conclution is that evey evidence points towards the highest offical of HGDEF probably the president himself. Only he has been around from 1981 to 2007 in high postion of the movnment / government. It explains why he doesn't want us to know the amount of moeny we are getting from mining (he refuesed to make it public in one of the latest interviews). HSBC is only one bank imagin the money which might be hidden somewhere in Asia (China, Hongkong etc).
ReplyDeleteInte ilka aytezareb, it's clear your message is to portray a certain image of the president, (you see chubut neger yellen, read your message, you just say: "Hence the conclution is that evey evidence points towards the highest offical of HIGDEF probably the president himself"..
ReplyDelete"Inte zeqewun ilas hebey tsebah anbessa dezeqeyer belet yebahal".