Yemen sends first mission to PDAC convention

Posted by Vivian Danielson

March 3rd, 2009

http://www.ygsmrb.org.ye/MYDEFAULT.asp

TORONTO — The government of Yemen sent its first official delegation to the Prospectors and Developers Association of Canada (PDAC) convention in hopes of attracting foreign investment to revitalize its mining and minerals exploration sector.

At a news conference, the delegation from Yemen pointed out that their nation encompasses favorable geology that is largely unexplored and many historic gold, silver and copper mines, including gold mines believed to have operated during the reign of the Queen of Sheba

“We came here because we recognize that Canada is an international leader in mining,” said Ismail Al-Ganad, Chairman of the Yemen Geological Survey.

http://www.ygsmrb.org.ye/MYDEFAULT.asp

Yemen is in the process of reforming its mining laws and investment climate with the help of the IFC/World Bank, and expects passage of the upgraded laws within several months.

So far Yemen has attracted 16 foreign companies to explore its favorable geology, including Canadian-based Cantex Mine Development.

Chairman Charles Fipke, best known for his role in discovering Canada’s first commercial diamond deposits, was on hand for the event.

Fipke played a key role in acquiring two projects in Yemen for Cantex, the Suwar nickel-copper-cobalt project optioned to Vale International and the Al Hariqah gold project.

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