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Al Amoudi's Midroc Gold Co inks gold extraction deal in Ethiopia
Al Amoudi's Midroc Gold Co. has signed an agreement with the Ethiopian government to extract an estimated 20 tons of recoverable gold found in the country last month, Reuters has reported. Under the terms of the deal, Ethiopia gets 5% of royalties, takes 2% equity and will charge 35% tax. The extraction licence expires once 20 tons of gold has been extracted.
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