Eritrean Business News: April 24, 2014 (Jiangsu) – Panamanian flagged cargo ship “Thor Glory” unloaded 11,450 tonnes of copper concentrate, valued at $ 20,437,700, at the Port of Nantong in the Jiangsu province of China.
The press reports state that the copper was imported from Eritrea, but do not mention the exact port of origin. The cargo was probably shipped via Dubai as it is the vessel’s closest port of call to Eritrea.
According to Chinese media reports on Monday, it is the first time that the Port of Nantong imported copper concentrate from the East African country. Eritrea is rich in mineral resources and has several international mining companies exploring metals near its capital Asmara.
Shanghai Metals Market (SMM), a leading Chinese independent metals market industry news provider, said that the supplier’s name was not revealed in Monday’s media reports .
However, Vancouver-based mining company Nevsun Resources Ltd. is the only company currently producing commercial copper concentrate in Eritrea since December 2013.