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Recently Wanbao China s largest state owned mining firm announced its withdrawal from Eritrea and that it would no longer seek a stake in the cash strapped Canadian mining company Sunridge Gold The company Sunridge which has been involved in the exploration of precious metals in Eritrea since 2003 was unable to reach production phase due to lack of finance that is hampered by the UN

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Jan 15 2013 · In April 2012 Australia based Chalice gold announced plans to sell its stake in Eritrea s Zara gold mining project to Shanghai based China SFECO

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