Asmara, 3 September 2010 – (Shabait) – The Minister of Trade and Industry, Mr. Estifanos Habte, participated in the 14th COMESA Summit that was held in Lozitha city, Swaziland, from August 31 to September 1.

In the summit conducted under the theme: “Harnessing Science and Technology for Development,” the COMESA member states reached understanding on the need to reinforce efforts and allocate enough budget in research and communication technology, set up joint science and technology parks, as well as utilize biotechnology in the agriculture sector and nano technology in the health sector.

The summit also assessed the developments registered in the tripartite-free-trade among the COMESA, the South Africa Development Community and the East African Community, besides giving work directives as regards the finalization of the process.

Taking note of the significance of the prevalence of peace and security in the COMESA region towards attaining development and facilitating the economic integration process, the summit held extensive discussion and adopted resolutions and recommendations.

Also in a meeting held earlier beginning from August 18, the unilateral governmental committee, the Ministers and Foreign Ministers Council reviewed the tasks accomplished last year, in addition to submitting the proposal of the action plan for next year to the COMESA member states summit for approval.

COMESA is a regional organization comprising 19 countries from Eastern, Southern and Northern Africa.

Belarusian News Agency BelTA reports that the Belarus Education Ministry and the Eritrean Education Ministry have signed an agreement on cooperation.

The document was signed by Ambassador Extraordinary and Plenipotentiary of Belarus to Russia Vasily Dolgolev and Ambassador of Eritrea to the Russian Federation Teklai Menassie Asgedom in Moscow on 31 August.

South Boulder Mines Eritrea

By Tim Boreham, The Australian

We suggest that 99 per cent of the room wouldn’t raise their arms, and those who do are fibbers or fertiliser tragics. Given the Big Australian’s ballsy ploy, we’ll be hearing much more about the potassium-rich substance that is as crucial to growing food as phosphate.

For the uninitiated — that is, the 99 per cent — potash is the catch-all name for various potassium salts. Most fertilisers consist of three core elements — nitrogen, phosphate and potassium — with the consistency varying according to the type of crop.

Potash global consumption stands at 50 million tonnes a year and unlike most raw materials Australia doesn’t produce an ounce of it. Production is dominated by Russia’s Silvinit and Uralkali, rumoured merger partners that account for more than half of global production. Traditionally, Germany has been the leading producer.

South Boulder Mines (STB) chief Morry Hughes says there are barriers to developing potash deposits, including their depth: the last new mine started in Germany in the late 1980s. But on the plus side they’re usually uniform in quality and also extensive. Potash Corp, the biggest single producer, acts as oil’s equivalent of an OPEC swing producer, curtailing or increasing production according to demand trends.

The global potash price has been favourable, hovering at about $US340 a tonne. This compares with the average $US620 a tonne at the 2008 peak, but is well up on the $US175 a tonne level of 2006.

As with phosphate, potash pricing was meant to be immune from the global financial crisis, despite the perception that fertiliser is immune from the cycles because everyone has to eat.

In truth it is more complicated: corn and palm oil growers created a spike in demand when oil prices soared because their product was being used for biodiesel.

Locally, there are three or four resource juniors playing in potash, although not necessarily exclusively in that commodity.

South Boulder Mines has been better known for its Duketon nickel venture in Western Australia with Independence Gold, but it’s also appraising its “world class” Colluli potash project in Eritrea.

South Boulder had a tenement at Lake Disappointment, next to fellow potash hopeful Reward Minerals (RWD), but native title difficulties sent the company scouring the world.

It settled on the emerging mining province of Eritrea, where potash has been used for centuries.

“We have been involved in potash for some time, which not many people have given us credit for,” Hughes says.

But with BHP getting into potash in a humungous way there are more investors coming on board. He estimates between 20 per cent and 25 per cent of South Boulder’s share base has been attracted by potash.

In a 50-50 venture with Rum Jungle Uranium, Reward is working two exploration leases over a 150km expanse in central Australia, from Lake Amadeus to Karinga Creek.

“An analogous model would be the Great Salt Lake in Utah, the largest potassium sulphate producer in the US, [or] the Dead Sea.”

Speaking of Utah, Transit Holdings (TRH) has earned a 75 per cent interest in a tenement spanning 390sqkm, in the state’s sparsely populated southeast. The parties are aiming for an “exploration target” of 2.3 billion tonnes.

Completing our potash troika, Elemental Minerals (ELM) recently started drilling on its Sintoukola project in the Republic of Congo, part of a four-year effort to take it to bankable feasibility stage.

In 2010 football was the name of the game on the African continent and history in the making with the first FIFA Football World Cup held in South Africa.

Football has become a “world religion” bringing nations together on the pitch and off the pitch. Who would have thought that alone supermarket giant Sainsbury’s would sell an African instrument, “Vuvuzela”, once used to summon distant villagers to attend community gatherings, over 50.000 times in the UK.

Africa is not only made out of South Africa and so football history continued to be written also in Eritrea, a small African state on the red sea, where the young nation hosted the CECAFA under-20 tournament. The CECAFA theme was Development and Friendship and took place in Eritrea’s capital Asmara from the August 14 to August 28.

Teams from nine African nations, including Eritrea, received a warm welcome by  Mr Tesfay Gebreyesas president of the Eritrean National Football Federation. Eritrea, the hosting country delivered a successful cup with organizers squeezing the best out of resources available, it proved again Eritrea can make it even during difficult times.

President of CECAFA Mr Leodegar Tenga praised the Government, Football Federation and the people of Eritrea for their hospitality. He continued on by saying

“This tournament will not only stimulate the development of football in this region, but it will also renovate social, economic development of our people and foster friendship”.

The tournament was overall packed and tickets for matches sold out, hotels were full with African nation’s contestants and streets were decorated with banners all over the place.

Eritrean fans were on the streets chanting “Eritrea, Eritrea Eritrea” full of excitement and roads packed with cars sounding there horn. Although, Eritrea came second behind cup winner Uganda and 4 players of the national team of Zanzibar had to be disqualified because of overage the cup was a major achievement for the team and Eritrea.

Shabait, Asmara, 28 August 2010 – The 5th CECAFA Cup under 20 tournament that was conducted here in Asmara concluded today with the Ugandan national soccer team as winner.

In the final matches that took place today between the Eritrean and Ugandan national teams, the two teams drew 1-1 in both the regular and additional time. In the subsequent penalty kicks, the Ugandan team beat the Eritrean team 5-3, thus emerging as the champion.

Also in the matches conducted earlier between the Kenyan and Rwandan national teams for ranking, the Kenyan team defeated its counterpart 1-0 and assumed the 3rd position.

In the course of the two-week tournament under the theme: “Development and Friendship”, the national soccer teams of Eritrea, Tanzania, Sudan, Kenya, Somalia, Uganda, Rwanda and Zanzibar, as well as the invited Yemeni team took part.

Click here

Selam,

To all Eritreans and those interested in Eritrea!

Due to considerable problems which Eritrean families are confronted with in Germany (Diaspora), a huge seminar is scheduled in Mannheim Germany to directly address these problems in plain-language.

Problem: Analysis and Prevention

The following topics will be discussed: Problems of integration, education, motivation, problems within families, problems of identification, drug problems, juvenile delinquency, diseases (AIDS education), social constraints and much more.

Everybody who wants to make a positive contribution to support the Eritrean community and the integration into German society is hearty welcomed to come.

Language: German

Date & Time: 11.09. 2010 18:00

Place: Haus der Jugend C2, 16 -18, 68159 Mannheim

With best Regards,

Organizer,

Biniam Kiflai

Email: Biniam1@web.de

PTA BANK

The Eastern and Southern Africa Development Bank (PTA Bank), a financial arm of COMESA, has continued making profits. The President of the Bank, Dr. Michael Gondwe revealed this at the 26th Annual Meeting of the PTA Bank held in Mahe, Seychelles, on July 23, 2010. The bank he noted, made a profit of over USD18 million in 2009 up from USD12.5 million in 2008.

While officially opening the meeting, His Excellency the President of the Republic of Seychelles, James Michel commended the Bank for its’ good performance despite the harsh operating conditions. The Head of State added that the Bank’s support for Seychelles, especially in the petroleum sector, was greatly appreciated by the country.

The President called on Member States to enhance support to the Bank to enable it continue being supportive of business growth. “It is important for us to enhance capacity of regional institutions such as the PTA Bank if they are to continue playing a catalytic growth in our economies,” said the Head of State.

During the meeting, the Vice President and Minister of Finance for the Republic of Seychelles, Hon. Danny Faure was elected the new chairman of the PTA Bank Board of Governors for the next financial year. Hon. Faure takes over the Chairmanship of the Bank’s topmost policy organ from Hon. Sufian Ahmed, the Minister of Finance of the Federal Democratic Republic of Ethiopia.

Speaking at the occasion, the Hon. Faure called on his fellow Governors to continue contributing to the Bank’s programme “as we build a strong institution that will make a positive impact on our development agenda.”

Governors, comprised of shareholder representatives, deliberated on the business of the Bank. Top among them was adopting the Bank’s 2009 Annual Report. The Governors also adopted resolutions giving policy directions to the Board and management of the Bank. A new steering committee composed of Zambia, Sudan and the African Development Bank (ADB) was elected by the Governors.

The shareholders of the Bank are: The African Development Bank, Burundi, The People’s Republic of China, Comoros, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Malawi, Mauritius, Rwanda, Seychelles, Somalia, Sudan, Tanzania, Uganda, Zambia and Zimbabwe.

Further to Chalice’s ASX Release of 13 July 2010 of the results of the Feasibility Study for its Koka Gold Project in Eritrea, East Africa, the Company is pleased to provide the full Project Summary from the Feasibility Study for reference by investors and shareholders.

The full Koka Gold Project Feasibility Study Summary is appended to this release and is also available on the Company’s website. The key financial outcomes of the Feasibility Study, which was undertaken by Lycopodium Minerals Limited (“Lycopodium”) with inputs from prominent industry consultants AMC Consultants Pty Ltd (“AMC”) and Knight Piésold Pty Ltd (“KP”), are set out in the announcement of 13 July 2010.

The highlights of that announcement were:

• Average life of mine total cash operating costs of US$338 per oz of gold
• After?tax NPV5% of US$196 million, life of mine EBITDA of US$589 million and an after tax IRR of 35% at current gold price of ~US$1,200/oz
• After?tax NPV5% of US$99 million, life of mine EBITDA of US$381 million and an after tax IRR of 22% at base case gold price of US$900/oz
• Average annual gold production of approximately 104,000oz per year with gold production totalling 731,000oz
• Forecast mine life of seven years at a mill throughput of 600,000 tonnes per annum, rising to 700,000 tonnes per annum from year 5
• Open pit Ore Reserves of 4.63Mt grading 5.1g/t for 760,000oz contained gold with a waste to ore ratio of ~10:1
• Estimated start up capital cost of US$122M

As advised in the previous announcement, the Company will now proceed to apply to the Eritrean Government for a Mining Licence in respect of the Koka Deposit. In parallel with this application, the Compan will assess its various funding options for development of the Koka Project.

The full Feasibility Study was recently presented to the Eritrean Ministry of Energy & Mines as the first step in the Company’s application for a Mining Licence for the Koka Gold Deposit. Lycopodium Minerals Limited, AMC Consultants Pty Ltd and Knight Piésold Pty Ltd have consented to the release of the Summary of the Feasibility Study.

Tim Goyder

Executive Chairman

See full report here: Summary Report

Zara Project

Dragon Mining Limited announces that Chalice Gold Mines Limited (“Chalice”) has exercised its option to purchase the Company’s 20% interest in the Zara Gold Project, Eritrea. Settlement, which will occur in two days, will result in Dragon Mining receiving $8.0 million in cash and 2 million Chalice shares (current market value of $0.9m) which will be escrowed for 12 months.

In addition, Chalice has the obligation to pay Dragon Mining a further $4.0 million on the delineation of 1 million ounces of gold Reserves at the Zara Gold Project. On 4 June 2010, Chalice announced a maiden gold Reserve at the Zara Gold Project of 760,000 ounces from an Indicated gold Resource of 840,000 ounces.

As at 31 May 2010, Dragon Mining had $21.4 million of cash and gold concentrate receivables compared to $11.8m at 31 March 2010 as reported in the quarterly report. With the receipt of the $8.0 million, the Company will have total cash and receivables of $29.4 million.

The limited obligations of Dragon Mining comprise a working capital facility of 2 million euros ($2.8m) which is repayable in two equal tranches on 30 June 2010 and 31 December 2010. In addition, as a result of on-market purchases by the Company, the outstanding number of convertible notes amount to 9.2 million.

Executive Chairman Peter Cordin stated, “It is pleasing that with the final delivery in August 2009 into the original hedge to finance the Svartliden development, the Company has substantially improved its balance sheet and cash position.

We are well positioned to meet forecasted production of 70,000 ounces of gold for 2010 and continue to generate strong operating margins with the appreciation of the gold price and the weakening of the euro and Swedish krona. The strong cash position will allow the Company to grow and enhance shareholder value.”

The Company is focussed on increasing the Reserves and mine life of its existing gold mines in Sweden and Finland. Feasibility studies for the underground operation at the Svartliden Gold Mine in Sweden and Jokisivu Gold Mine in Finland are nearing completion with commitment to development expected in the third quarter of 2010.

In addition the Company will be able to commit further funding to enhance the value of its exploration properties, particularly at Kuusamo in northern Finland.

Egypt

QNA reports that Egyptian Assistant Foreign Minister for African Affairs Ambassador Mona Omar has welcomed the mediation of the State of Qatar to settle the dispute between Eritrea and Djibouti, adding that Egypt welcomes any mediation that will realize peace between the two coutries.

She announced that her country was ready to make any effort to help achieve peace in this vital and important region, stressing that the return of normalcy between Eritrea and Djibouti is of interest to Egypt.

On the other hand, the Egyptian Assistant Foreign Minister revealed in a press statement released today that Chadian President Idriss Deby will begin a two-day visit to Cairo tomorrow (Tuesday) where he will hold talks with Egyptian President Hosni Mubarak and a number of officials on bilateral relations in addition to the latest developments in Sudan, especially in the Darfur region among others.

She also that Somali President Sheikh Sharif Sheikh Ahmed is expected to pay a visit to Egypt during the coming period, during which he is expected to hold talks with Egyptian officials on the situation in Somalia and the Horn of Africa.

Eritrean Artistis

The Delegation of the European Union in Eritrea is organising for the second time on a row the Art Competition “I Dream Therefore I Am”.

The competition calls on the youth and adults to express artistically their personal dreams, dreams for their family and dreams for their country or to interpret the theme “A world where no one is left behind”.

Participants are invited to create a work of art expressing their dreams in their preferred form of the artistic expression.

The competition is open for three different categories – Youth 11-18 years of age, Adult Non-Professional Artists and Adult Professional Artists. Participants from categories 1 and 2 must be resident in Eritrea, whereas category 3 is open to any participant from other countries in the region. The deadline of the competition is the 01 September 2010.

The European Union marks 2010 as the “European Year for Combating Poverty and Social Exclusion”. Therefore, the theme of this year’s competition is “A world where no one is left behind” The title of the competition goes back to the 19^th century Swedish Author Johan August Strindberg and expresses the feeling that every great idea starts with a dream.

During last year’s competition ten Eritrean artists received a prize for the best art works by the Head of the Delegation of the European Commission to Eritrea, Ms Paola Amadei, at the official awards ceremony.

This year’s prizes awards range from 800 Nakfa and an art kit in category Youth and 3000 Nakfa in category Non-Professional Artists to 10.000 Nakfa in category Professional Artists.