Gold miners are expanding their focus in Africa to the northeast of the continent, a region they largely bypassed during the decade-long rally in gold prices. Big-name gold miners such as AngloGold Ashanti Ltd (which has a secondary listing on the London Stock Exchange) and Newmont Mining Corp. are exploring for gold in Eritrea and Egypt on a promising geological belt known as the Arabian-Nubian Shield. London-listed African Barrick Gold, Barrick Gold Corp.’s recent spinoff, is also looking at Eritrea for potential acquisitions, Chief Executive Greg Hawkins said recently.
See http://www.eastafricaforum.net/2010/09/11/northeast-africas-unexplored-grounds-lure-gold-miners/.