Tuesday
Oct 07th
| Nevsun awarded licence to mine in Eritrea |
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| Written by Administrator | |
| Tuesday, 08 January 2008 | |
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Nevsun Resources [AMEX:NSU; TSX:NSU] announced today that subsidiary Bisha Mining has officially received a licence to mine in Eritrea. The government of Eritrea agreed to the mining contract in December.
The license area covers approximately 16.5 square kilometres within the mining agreement area of about 39 square kilometres. Bisha will seek debt financing to cover costs of the project. Nevsun shares were up 10 Canadian cents, or 4.4%, at C$2.38 today on the Toronto Stock Exchange before trading was suspending. Read RI coverage of Nevsun’s activities in Eritrea here.
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| Last Updated ( Tuesday, 08 January 2008 ) |
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