united nations vote - mining ban in eritrea

Bloomberg, Oct 18, 2011.

Mining companies face ban in Eritrea under drafted United Nations sanctions.

There may be an initial vote on the sanctions in the United Nations on Tues 25 Oct, 2011.

The critical lines in the United Nations sanctions draft documents are;

"... all states shall prohibit investments in Eritrea's mining industry..."

"... and prohibit the import of gold and OTHER RAW MATERIALS from Eritrea..."

Mining companies face UN sanctions in Eritrea

It is worth noting though, that Eritrea has been under threat of UN sanctions and bans of one sort or another since 2009, none of which have so far appeared to materially affect the mining industry.

This is however, the first vote explicitly sanctioning Eritrean mining only.

Gw