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. Colluli is obviously a tier-1 asset, boasting the lowest-costs in the world and >200 years of mine life. Table 1. Colluli is owned by the Colluli Mining Share Company, a 50:50 joint venture with the Eritrean National Mining Company. Ok as claimed above I dure hope the dictatorship in place will be nice enough this time around to be honest and work for the sake of the people and show the truth about the budgetary issues to the public unlike what the dictatorship did on the gold mining sector.we Eritreans cannot wait to see the benefits of the potash industry on projects that will enhance peoples living standards and create a sustainable economic growth as stipulated on the government sustainable development goals and agendatime only will tell if the dictatorship will have a changing to work for the betterment of the country but not gew clicks. The Colluli project is located in the Danakil Depression region of Eritrea, East Africa, about 75 km from the Red Sea coast The Perth-based miner noted that despite covid-19 restrictions,. It also contains other fertilizer products, such as muriate of potash (MOP) and gypsum, along with rock salt.There is also potential for kieserite and mag chloride to be commercialized with minimal further processing required.A United Nations report published in 2019suggested that Colluli could significantly boost the economy of Eritrea.The project is the only known source of potash that allows extraction of the fertilizer in solid form. Colluli, a 50:50 joint venture between Danakali and the Eritrean National Mining Corporation (ENAMCO), has been called a game-changer for Eritreas economy, as it is expected to become one of the worlds most significant and lowest-cost sources of sulphate of potash (SOP), a premium grade fertiliser. Danakali explored the use of filtered seawater at Colluli. The Danakil Depression is an emerging potash province in Eritrea and Ethiopia.
Abu Dhabi has established a growing reputation as a source of innovation due to forward-thinking projects across sectors including energy, infrastructure, sport, culture and tourism. Posted by Daniel Gleeson on 21st August 2020. Proudly Researched by: Melanie Miles. Eritrea one of the worlds most repressive and secretive states, known as the North Korea of Africa is poised to disrupt the global supply chain of fertiliser. %PDF-1.7
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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$500-650/t. Flour was awarded the FEED contract for the Colluli potash project in January 2017. Plus500. Asmara is a beautiful city and awash in colonial Italian architectural gems. 7. According to Reporters Without Borders, only North Korea has less press freedom. What are my chances of getting my money back? Colluli Potash Project, Eritrea. 6. The removal of Eritrea from the sanction list opened up the country for foreign investments, thus significantly reducing geopolitical risk. function GTranslateGetCurrentLang() {var keyValue = document['cookie'].match('(^|;) ?googtrans=([^;]*)(;|$)');return keyValue ? seriously, this Man is a lobbyist of TPLF A group designated as a Terrorist Organisation in Ethiopia. (MOP) and gypsum, along with rock salt. .goog-te-menu-value:hover {text-decoration:none !important;}
Colluli is located about 75 kilometres from the Red Sea coast, making it among the most accessible premium potash deposits globally. If you have an ad-blocker enabled you may be blocked from proceeding. body {top:0 !important;}
Danakali has 100% of its sales locked in for the first ten years and with the option to extend for a further three through a take-or-pay offtake agreement with EuroChem, the Swiss mineral fertiliser producer. development of the project, and the expected significant boost to royalties, To lower infrastructure uncertainties, in August and October 2020, respectively, Danakali appointed RA International Group PLC as the preferred contractor for the supply of accommodation, support services, and other infrastructure buildings, and Aggreko (AGK.LSE) as its preferred power supply contractor for its 12MW HFO power plant at Colluli under a five-year BOOT contract, removing a major infrastructure uncertainty. Jason Mitchell is a senior editor at Investment Monitor, with a specialisation in emerging markets. Why isn't Europe investing more in recycling plastic. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 594.96 842.04] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>
2). It also has access to solar, wind and geothermal energy systems - the East African rift. Fig. The government monitors telephone and internet traffic and runs an extensive domestic surveillance system. After all considerations and government taxes, Danakali said it expects to receive approximately $121m. Based on what evidence? Eritrea is an ancient civilisation dating back thousands of years and was inhabited by early humans. and mag chloride to be commercialized with minimal further processing required. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Click to follow this blog and receive notifications of new posts by email. endobj
Finance > M-a. 2022 The Colluli potash project is a low-cost, long-life sulphate of potash (SOP) project under development in Eritrea, Eastern Africa. 6. 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. As inflation falls, what can be expected from the Bank of England in the months to come? AustraliasDanakali(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 (ENAMCO) to build the mine.Subject to conditions, the deal with Chinese company Sichuan Road and Bridge Group is expected to be finalized between March and May next year, leaving Danakali with $121 million cash, of which 90% will be distributed back to shareholders.The miner said it would use the remaining cash about $12 million to identify new projects and potential new alternative growth opportunities.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.The project has the worlds largest JORC compliant reserve at 1.1 billion tonnes. The Danakil Depression, which extends over 300km into eastern Ethiopia, hosts over 6,000 Mt of potassium-bearing salts suitable for the production of potash fertilizers. 4. The Colluli potash mine is estimated to hold 1.1 billion tonnes of SOP ore reserves grading 10.5% potassium oxide (K2O). could rise to almost 944,000 tonnes if Danakali decides to go ahead with a The Colluli potash project is a low-cost, long-life sulphate of potash (SOP) project under development in Eritrea, Eastern Africa. The independent study, commissioned and funded by the UN Development Program (UNDP), assesses a wide range of econometric data and includes . The economy expanded by 2.9% in 2021 and is forecast to surge by 4.8% this year, according to the International Monetary Fund. The appointment of RA International is testament to sound execution of our growth strategy, highlighting continued new business momentum with another significant award in the mining sector., Your email address will not be published. Australia's Danakali (ASX, LON:DNK) is closer than ever to beginning the development of its world-class Colluli potash project in Eritrea, which is expected to become one of the world's. Artists impression of the plant at the Colluli project. Wall Street Bulls Look Optimistic About Nutrien (NTR): Should You Buy? The underapplication of SOP in developing regions where the highest rates of population growth are expected, from this source. Colluli is without peer on capital intensity and production capacity with the ability to expand rapidly. These alternative producers require substantial lead times to generate their harvest salts for processing. All primary production of potassium sulphate from kainitite worldwide commence with low potassium content brines, which require substantial solar evaporation to generate a harvest salt for subsequent processing. The production of other agricultural and salt products, including Rock Salt, Kieserite, Gypsum and Magnesium Chloride, is also possible from the Colluli resource. Two articles indicate the rapid progress towards the development of a vast potash mine in the Danakil desert. Eritreas north-eastern and eastern parts have an extensive coastline along the Red Sea, strategically located along the Maritime Silk Road. The proposed mine is located within the Danakil Depression, part of the Great Rift Valley on the Eritrea - Ethiopia border, with export facilities on the Eritrean Red Sea coastline. Information about Eritrea and the Horn of Africa. Therefore, a wide moat that's rarely seen in miners of other commodities can be found among potash miners, such as Nutrien Ltd (NTR), as discussed by fellow Seeking Alpha authors. ( source):Danakalihttps://www.danakali.com.au/You can play an important role in investing in a truly once in a lifetime business opportunity. 11. With a growing world population, demand for food will increase, while the availability of arable land is expected to shrink. Members of The Natural Resources Hub get exclusive ideas and guidance to navigate any climate. Over the next three decades, almost 95% of the population growth will occur in Africa, India, and South-East Asia. The FEED economic estimates, from the same source as Fig. (. The government will benefit from the longer-term The Colluli process is expected to generate a product with a purity of 94.5%. 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. Its constitution has not been implemented, the parliament has been prorogued for many years, the ruling party has not held a congress for a number of years and independent media is banned. Agnico Eagle's EPS beat expectations; guidance maintained. Under the current FEED study for Module 1 and 2, Danakali will be one of the lowest cost SOP producers and with the development of the loading facility at Anfile Bay costs will decrease further as transportation costs are reduced. endobj
In addition to SOP, MOP, and SOP-M producible at Colluli, Danakali can also produce rock salt, kieserite, gypsum, and magnesium chloride, upon the completion of the Anfile Bay port.