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It nosedived again in 2017, this time by -10%, before jumping by 13% in 2018. Image courtesy of Danakali. Mobile data does not exist. Fig. inequalities, climate action, peace, justice and strong institutions and The company's strategy targets the development of a world-class potash project that will become pivotal for global and African agriculture. Colluli is without peer on capital intensity and production capacity with the ability to expand rapidly. There is also potential for kieserite and mag chloride to be commercialized with minimal further processing required. Copyright 2023, All Rights Reserved | Alphastox | Proudly Hosted by, Danakali to sell stake in flagship Colluli potash project in Eritrea, Canada Nickel develops new method for accelerated carbon capture, Patriot Battery Metals drills nine holes at Corvette, Metso Outotec expands digital grinding inspections with acquisition of Global Physical, Fatal accident at Ivanhoes Kamoa-Kakula mine in Congo. MiningOther CommoditiesIndustrial Minerals, Danakali (50%) and Eritrean National Mining Corporation (ENAMCO, 50%). For the area a high-temperature geothermal reservoir was identified in Alid with estimates of a potential heat of 250 to 300 degrees Celsius. In turn the well-defined geological features support our ability to maximise the potential from this the multi salt deposit. Das wrde mich fr Eritrea sehr freuen und hoffe das es den Menschen dort zugute kommt.Ich liebe dieses Land zumal meine Tochter einen eritreischen Vater hat.. In 1993, after a brutal war of independence from Ethiopia lasting almost three decades and led by Isaias Afwerki Eritrea became a sovereign country. With planned production of 1m tonnes/year of SOP, it will put Eritrea among the topten potash producers in the world. You are talking about the garbage written by Plaut ? Demand for fertiliser is driven by population and economic growth which directly translates to food demand. stream It has industry-leading capital intensity, forecast first quartile operating costs, and highly attractive economic returns. Danakali reports that the Colluli Mining Share Company (CMSC) has appointed RA International Group as its preferred contractor for the supply of accommodation, support services and other infrastructure buildings in support of the Colluli sulphate of potash project development, in Eritrea. Fig. However, in July 2018, a peace agreement was finally reached between Afwerki and Ethiopias Prime Minister, Abiy Ahmed. .goog-te-menu-value:hover {text-decoration:none !important;} The Eritrean government, through ENAMCO, has a 50% interest in the Colluli project. Reverso Context-: A Front-End Engineering Design (FEED) study confirmed an advanced stage and economically attractive Project. Colluli is located in the Danakil Depression on the Eritrean side of the Eritrea-Ethiopia border, a barren desert area ideal for large mine operations (Fig. On December 3, 2019, Africa Finance Corporation also agreed to make a US$50 million equity investment in two tranches at A$0.60 per Danakali share. Colluli has been largely de-risked in terms of. It also contains other fertilizer products, such as muriate of potash (MOP) and gypsum, along with rock salt. Only 12% of the total land area is suitable for farming in part due to the countrys rocky and mountainous terrain but also due to a persistent drought that afflicts much of the remaining countryside. Posted by Daniel Gleeson on 21st August 2020. The miner said it would use the remaining cash about $12 million to identify new projects and potential new alternative growth opportunities.. Danakali, an Australian company that has been developing the Colluli potash project in Eritrea, was recently granted permission by the Eritrean Ministry of Energy and Mines to commence commercial production at Colluli. Danakali is developing the tier-1 Colluli potash project, Eritrea, which boasts the world's lowest costs and >200 years of mine life. The Danakil salt basin, in Eritrea, is a positively unique example as it is one of only very few known potash deposits where kainite, a sulphate bearing mineral key for potassium sulphate production, is found in solid form. Following the agreement, Collulis position as an economically attractive SOP greenfield development project has been reinforced. DANAKALI Ltd., Eritrea - Colluli Potash Project | Aktienforum | Aktien Forum | Diskussionsboard | Community von finanzen.at development of the project, and the expected significant boost to royalties, It is a member of the African Union, the UN and the Intergovernmental Authority on Development which deals with issues around drought and desertification in the Horn of Africa but it is the only African country (out of 55) not to sign up to the African Continental Free Trade Area, the huge free trade area that went live on 1 January 2021. The front-end engineering and design (FEED) study for the project was completed in January 2018. The SOP quality spectrum, from the same source as Fig. 2023 Glacier Media Group, All Rights Reserved, Botswana mining growth seen flat amid dim diamond outlook, Harmony Gold CEO says gold sector consolidation inevitable, Quest for worlds biggest diamonds gives De Beers a headache, Mali forecasts 3.5% decline in industrial gold output in 2023, Canada injects $75 million into BHPs Jansen potash mine, Russia raises fertilizer export quota by 500,000 tonnes, World to face potash price crunchas Brazil Potash propels Autazes project toward production, Europes largest rare earths deposit found in Sweden. A United Nations report published in 2019suggested that Colluli could significantly boost the economy of Eritrea. This article lost credibility in characterizing the country of Eritrea as most oppressive regime. There was a famous incident where some of the disabled tried to walk into town to complain to him, and they were met by the police and the army who opened fire on them. So, as a mining jurisdiction, it has got nothing but ticks in all the right boxes.". The Report was undertaken during 2018 by senior economists on behalf of the UNDP. The country with an estimated $2.48bn economy and 3.6 million inhabitants has been ruled with an iron fist by its dictator President Isaias Afwerki, now aged 75 since he led it to independence from Ethiopia in 1993. The best energy and mining stock ideas with multibagger potential. ( source):Danakalihttps://www.danakali.com.au/You can play an important role in investing in a truly once in a lifetime business opportunity. Sign up HERE today to benefit from Laurentian Research's in-depth research and the TNRH platform right away! A pre-feasibility study for the project was completed in February 2015 followed by the completion of a definitive feasibility study (DFS) in November 2015, while the mining license was granted in February 2017. Development is already underway with expected production in 2022. Masdar City Free Zone, in the United Arab Emirates capital, offers a hassle-free environment in which companies can operate. Information about Eritrea and the Horn of Africa. Based on what evidence? At mine-gate production costs of US$149-165/t or total cash costs of US$242-258/t, Colluli can be profitable even at the current low SOP price of US$500-650/t. Journalists say that getting any information out of the country is extremely difficult. The development of the Colluli potash projects coincides Sadly, Eritrea looks set to remain a failed state as long as he is in office. Italy created the colony of Eritrea in the 19th century around Asmara and gave it its current name. "A lot of the troops that he had under his command all of whom were volunteers, all of whom were guerrilla fighters had been fighting, some of them, for 10, 15 years without pay. These include: No poverty, zero hunger, quality The benefits of this means we generate cash flow much earlier and more predictably relative to solution mining or brine operations. Here Are 10 Other Analyst Forecasts For Tuesday, Berenberg Bank Sticks to Their Buy Rating for Nutrien (NTR), Registration on or use of this site constitutes acceptance of our. In some cases, depending on the ambient conditions, this process can take over two years. Australia's Danakali (ASX: DNK) is selling its 50% stake in the Colluli potash project in Eritrea, Africa, almost 13 years after partnering with the Eritrean National Mining Corporation. The production of other agricultural and salt products, including Rock Salt, Kieserite, Gypsum and Magnesium Chloride, is also possible from the Colluli resource. Fig. To the southeast of the teeming herds of wildlife in the Okavango Delta inBotswana, an offshoot of the Lundinminingdynasty is extending its search for the worlds biggestdiamonds. Colluli will be a simple open-cut mining operation utilising truck and shovel methods complemented by continuous surface miners. It thus follows we should keep an eye on emerging potash producers. The underapplication of SOP in developing regions where the highest rates of population growth are expected, from this source. All land is considered state-owned and property rights are non-existent. The project has now obtained all licenses and permits within the license area and has also been granted all required permits, licences and authorisations for infrastructure construction and development outside the Colluli mining license area. Fig. 1). The deposit stretches across the border into Ethiopia. A United Nations report published in 2019suggested that Colluli could significantly boost the economy of Eritrea. function GTranslateGetCurrentLang() {var keyValue = document['cookie'].match('(^|;) ?googtrans=([^;]*)(;|$)');return keyValue ? BHP officials met with Argentinian authorities this week, expressing interest in increasing investments in the San Juan province. 3). "There is a supportive business environment because mining there is a very strategic industry. Front End Engineering Design (FEED) strongly confirms Colluli as one of the worlds most economically attractive, and fundable SOP greenfield development project. The deposit contains mainly three types of potassium bearing salts including sylvinite, carnallitite, and kainitite. endobj Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. 10). The Colluli potash project is located in the Danakil Depression region of Eritrea, in East Africa, approximately 75km away from the Red Sea coast and approximately 177km southeast of capital Asmara. Additional details about the agreement are available in the following announcement >>. The Colluli potash project is considered one of the worlds most significant and lowest-cost sources of sulphate of potash (SOP), a premium grade fertilizer. World potash demand has grown at an average rate of 2.5-3.0% per year since 2000 (Fig. What Are the Best Fertilizer Stocks? The mineralization in the Colluli deposit starts at just 16m, making it the shallowest known potash deposit in the world, and thus amenable to low-cost, open-cut mining. Muriate of potash, i.e., MOP (KCl; 0-0-60), which is used for wheat, corn, and other chloride-tolerant crops; Sulfate of potash or SOP (K2SO4; 0-0-50-18S), which also supplies both potassium and sulfur for high yields and quality; Potassium-magnesium sulfate, i.e., SOP-M (K2SO4-2MgSO4; 0-0-22-22S-11Mg) used as specialty fertilizer; Potassium thiosulfate (K2S2O3; 0-0-25-17S); and, Potassium nitrate (KNO3; 13-0-44) used for chloride sensitive crops that require additional nitrogen (see. Under the terms of the agreement, EuroChem will take, pay, market, and distribute up to 100% of the module I SOP production over a 10+3 year term from the project commissioning. One-third of the country's GDP is made up of remittances sent home by Eritreans living in Europe and other developed countries. The project is the only known source of potash that allows extraction of the fertilizer in solid form. What are my chances of getting my money back? By. Are the rights of those working on the site ensured, or will they be slaves forced to work on the mine as National Service conscripts? Due to this change if you are seeing this message for the first time please make sure you reset your password using the Forgot your password Link. Adjusted net income of $0.52 beat the consensus estimate of $0.43. The potassium salt composition in the resource provides the option to diversify the potash product suite as the Project grows. The operating environment weighed heavily on Danakalis decision, as Eritrea is ruled by one of the worldsmost oppressive regimes and was until 2018 on the UNs sanctions list. The Company is developing Colluli in partnership with the Eritrean National Mining Corporation (ENAMCO). Potash is the common term for fertiliser forms of the element potassium (K). The resource contains 303Mt @ 11% K2 0 of Measured Resource, 951Mt @ 11% K2 0 of Indicated Resource and 35Mt @ 10% K20 of Inferred Resource.