East Africa Metals (TSE:EAM) has released an update.
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East Africa Metals Inc. has partnered with Tibet Huayu Mining Co. to initiate the development of the Mato Bula and Da Tambuk mines in Ethiopia, with Tibet Huayu shouldering all construction costs. The mines, which halted operations due to regional conflict, are set to be developed around a new central processing facility, with construction activities including road access planned to start soon. East Africa Metals will gain a 30% net profits interest from the produced gold and copper, post-mining and processing costs.
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