Ethiopia, Chinese MCC sign deal on mines exploration

Aug 12, 2006 (ADDIS ABABA) — Ethiopian Ministry of Mines and Energy signed a memorandum of understanding with the Chinese MCC for the exploration and development of mines in Ethiopia.

China Metallurgical Construction (Group) Corporation (MCC) is a state-controlled enterprise.

The agreement was signed for the exploration of minerals that would be used as input for the production of iron, nickel and cement.

According to the agreement, the Company would study the amount and type of minerals found in various parts of the country.

The company also agreed to carry out exploration of mines jointly with other companies engaged in a similar sector.

The company would decide to engage in the sector after it executes an assessment of the accumulation and type of minerals compiled by the Geological Survey of Ethiopia.

China, the world’s biggest maker and user of steel, yesterday announced record steel-product output for June, as production rose 32 per cent to 41.2 million tonnes. Iron ore is the main raw ingredient.

(ST)