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East Africa Metals (TSXV: EAM) says it has closed a transaction with Tibet Huayu Mining which will see the China-based company acquire 70% of EAM’s Adyabo project in Ethiopia and fund its development.
Deal secures development of East Africa Metals’ Adyabo but not Harvest project in Ethiopia
However the pair have terminated the letter of intent relating to EAM's nearby majority-owned Harvest project containing the Terakimti gold heap leach project.
Staff to mobilise once restrictions lifted
Zijin to take stake in East Africa's Harvest
East Africa gains more mining licences
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