Report Highlights

  • East Africa Metals (EAM) recently closed a $5.5M equity financing with Anchises Capital Precious Metal Fund, a San Francisco–based Chinese family trust with investments in African mining ventures. With this transaction, Anchises now owns 19.9% of EAM’s equity. This financing marks renewed activity for EAM, which had been relatively inactive in recent years. 
  • Mining and exploration in Ethiopia have been mostly inactive  in recent years due to a regional conflict from 2020 to 2023. Despite stabilization, operations remain largely suspended due to unresolved disputes over mining rights between federal and regional governments, causing regulatory delays. While no specific timeline exists for resolution, we believe settling these issues is critical to unlocking Ethiopia’s untapped gold potential.