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ADDIS ABABA — Ethiopia on Tuesday announced the discovery of a mine containing more than 40 tonnes of gold deposit worth 1.7 billion dollars (1.1 billion euros).

The state-run Ethiopian News Agency reported that the new find, announced by the ministry of mines and energy, will require some 200 million dollars to extract and process.

"Geological survey indicates that... an estimated 500 tonnes of gold deposit is found in the country," the agency said, providing a figure for the whole of Ethiopia.

Some 44 companies are engaged in gold exploration, earning Ethiopia about 105 million dollars in export every year.

The Horn of Africa country has mineral resources that have so far remained unexploited.

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Comment by jackie on November 12, 2009 at 3:58pm
Indicating that it is displeased with the failure to remove Zimbabwe from the Kimberley Process (KP) Certification Scheme, the U.S. State Department is threatening that if a plan to place strict controls on Zimbabwe's Marange fields is not "thoroughly implemented," the country will be suspended from the KP.

The statement also urges a "prompt resolution of the KP discussions on the critical role of respect for human rights in the administration of participants' diamond mining sectors."

The statement says the KP was created to mitigate such abuses in nations facing conflict or internal strife.

The KP decided last week to place a monitoring mechanism on Zimbabwe's Marange diamonds following reports of large-scale smuggling and human rights abuses that include killings and rape.

"In light of serious concerns about Zimbabwe's compliance with the Kimberley Process rough-diamond certification scheme, we await full and expeditious implementation of the stringent controls."

It further warns, "The United States expects that if the Work Plan which obligates Zimbabwe to commit substantial effort and resources is not thoroughly implemented, the KP will suspend Zimbabwe's status in the KP certification scheme. We further note that Zimbabwe agreed not to export Marange diamonds until the monitoring mechanism is established."

The United States expressed deep concern about human rights abuses in and around the Marange diamond fields and "urged" KP members to demonstrate their "full commitment to the principles upon which the KP was established"--a stab at African countries that prevented a decision to suspend Zimbabwe.

The United States also welcomed progress made regarding increased oversight of exports from Guinea, new measures for identification and cooperation on suspicious shipments and efforts to improve coordination on technical and development assistance. Dhav you have no idea's how many diamond mine in africa but but all are sell to world

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