Required fields are marked *. Across the country, an estimated two-thirds of households are impacted by food insecurity. In the initial phase of operations, the mine would produce more than 472,000 tonnes a year of sulphate of potash (SOP), a premium grade fertilizer. Soraya Narfeldt, CEO of RA International, said: We are delighted to have been chosen as the preferred contractor to work with Danakali and its partners on this project which we see as globally significant. 1). The underapplication of SOP in developing regions where the highest rates of population growth are expected, from this source. 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. 03 October 2022. (MOP) and gypsum, along with rock salt. 11). Foreign investment in most business sectors is heavily restricted and state-owned enterprises distort its markets. The proximity to the coast and the established port infrastructure in the Port of Massawa gives Colluli unrivalled access to global export markets, and it also decreases logistics costs from the mine gate onto the ship estimated at US$73/t. 1 0 obj A pre-feasibility study was completed in February 2015, followed by the completion of a definitive feasibility study in November 2015, while the mining licence was granted in February 2017. ,and the value is around 67,000.00 . endobj Shallowest known evaporite deposit globally. Reminders. We are confident in RA Internationals capabilities to deliver a high-quality product and service.. ( source):Danakalihttps://www.danakali.com.au/You can play an important role in investing in a truly once in a lifetime business opportunity. A United Nations report published in 2019 suggested that Colluli could significantly boost the economy of Eritrea. Have the local Afar people been displaced and supplies to their communities cut to allow access to the site? One-third of the country's GDP is made up of remittances sent home by Eritreans living in Europe and other developed countries. Colluli has a JORC-2012 compliant measured, indicated and inferred resource of 1,289 Mt at 11% K20 equivalent and 7% kieserite. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Click to follow this blog and receive notifications of new posts by email. The asset has the potential to produce other fertilizer This is a report that was prepared by independent consultants and initiated and funded by the United Nations Development Programme (UNDP) on the potential contributions of Colluli to Eritrea's Sustainable Development Goals has been released. seriously, this Man is a lobbyist of TPLF A group designated as a Terrorist Organisation in Ethiopia. The Danakil Depression is an emerging potash province in Eritrea and Ethiopia. Danakali Limited is a resource company focused on the Colluli SOP (Sulphate of Potash) Project in Eritrea, East Africa. The Colluli Potash Project is located within the Danakil region of Eritrea, approximately 177km south-east of the capital city Asmara. Colluli is 75km from the Red Sea coast, providing unrivalled future logistics potential. 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. I wrote this article myself, and it expresses my own opinions. It also has access to solar, wind and geothermal energy systems the East African rift. Economic resources for Sulphate of Potash (SOP) production are scarce, and Colluli is favourably positioned to supply the worlds fastest-growing SOP markets. 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. By clicking the Download Free Whitepaper button, you accept the terms and conditions and acknowledge that your data will be used as described in the Masdar City Free Zone privacy policy It hosts the youngest evaporite deposit and the largest unexploited potash basin in the world. Asmara is a beautiful city and awash in colonial Italian architectural gems. DANAKALI Ltd., Eritrea - Colluli Potash Project | Aktienforum | Aktien Forum | Diskussionsboard | Community von finanzen.net ColluliMining Share company (CMSC,) a 50:50 Joint Venture between Danakali Limited (DNK) and Eritrean National Mining Corporation (ENAMCO) Codes: ASX: DNK, SO3-FRA, SO3-BER. For the area a high-temperature geothermal reservoir was identified in Alid with estimates of a potential heat of 250 to 300 degrees Celsius. The Colluli potash project is a low-cost, long-life sulphate of potash (SOP) fertiliser project under development by the Colluli Mining Share Company, a 50-50 joint venture partnership between the Australian start-up Danakali and the Eritrean National Mining Corporation. The project, 50/50 owned by Australian mining company Danakali and the Eritrean Government, is rapidly progressing towards construction. A United Nations report published in 2019suggested that Colluli could significantly boost the economy of Eritrea. 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. A United Nations reportpublished last yearsuggested that Colluli could significantly boost Eritreas economy. EuroChem will purchase the entire SOP output of the Colluli phase one potash project under a 10-year binding off-take agreement signed in June 2018. 6. Select LanguageChinese (Simplified)EnglishGerman AFC also agreed for an additional 39m ($50m) of strategic equity investment in Danakali in December 2019. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. There is also potential for kieserite 1. Based on what evidence? On September 11, 2018, the Eritrea-Ethiopia border re-opened for the first time since 1998. The Colluli potash deposit is considered to be one of the worlds shallowest evaporite mineralisation with potash resources found just 16m below the surface. 11. If you continue using our website, we'll assume that you are happy to receive all cookies on this website. The company is yet to secure an additional US$52 million of capital. The Colluli potash mine is estimated to hold 1.1 billion tonnes of SOP ore reserves grading 10.5% potassium oxide (K2O). I am not receiving compensation for it (other than from Seeking Alpha). Danakali has a 50% interest in a JV with the Eritrean National Mining Corporation (or ENAMCO), which operates the Colluli project. This post has been syndicated from a third-party source. Open-cut solid salt mining beats underground solid salt mining, lacustrine brine, and playa brine in operating costs. 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. partnerships for the SDGs. The saleable SOP product will be trucked via road for sipping to the Massawa port which is located approximately 230km north-west of the project site. Colluli is positioned very close to vital potash markets. 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. I'd like to emphasize that the articles contributed by these authors are the product of their respective independent research and analysis. Potash, an important fertiliser, could be a game changer for Eritrea and other African countries. Italy created the colony of Eritrea in the 19th century around Asmara and gave it its current name. Fig. The company expects to start full commercial production in mid-December 2022. 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.. DANAKALI Ltd., Eritrea - Colluli Potash Project | Aktienforum | Aktien Forum | Diskussionsboard | Community von finanzen.at However, the country is home to one of the world's biggest potash deposits which straddles the border with Ethiopia. It also contains other fertilizer products, such as muriate of potash (MOP) and gypsum, along with rock salt. Colluli is obviously a tier-1 asset, boasting the lowest-costs in the world and >200 years of mine life. 6. The total measured, indicated and inferred SOP mineral resources at the deposit are estimated to be 1.29 billion tonnes grading 11% K2O. 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. Sylvinite and carnallitite both produce potassium chloride, which is then combined with decomposed kainitite to form high purity potassium sulphate. It assesses a wide range of econometric data and includes findings . Colluli contains three potassium-bearing salts in solid form, namely. The shortfall of projected and actual global potash capacity, from this source. Profit was boosted by higher metal grades and prices. Click HERE for a free trial now. In November 2020, a conflict broke out in the mountainous region of Ethiopia, called Tigray, between Tigrayan forces and the Ethiopian federal troops. With planned production of 1m tonnes/year of SOP, it will put Eritrea among the topten potash producers in the world. education, gender equality, clean water and sanitation, sustainable economic At Colluli, the JORC-2012 compliant mineral resource is estimated at 1,289 Mt at 11% K2O for 260 Mt of contained SOP equivalent. The company expects to start full commercial production in mid-December 2022. Plus500. Fig. second phase of development, as the project has a possible 200-year plus Potassium is one of three key fertiliser macro-nutrients essential for healthy soil and plant growth. In turn the well-defined geological features support our ability to maximise the potential from this the multi salt deposit. The project is estimated to have a net present value of $902m and an internal rate of return of 29.9%, according to the London Stock Exchange. The water supply for the project is proposed to be met through a pipeline connecting a water desalination plant located at Anfile Bay on the Red Sea coast. providing 10,000 direct and indirect local jobs. Table 1. Best. In August 2019, Danakali announced Africa Finance Corporation and African Export-Import Bank (Afreximbank) have obtained formal credit approval to provide US$200 million in senior debt finance, as part of the overall project funding package used for the construction of Colluli, with the documentation finalized on December 23, 2019. The resource contains 303Mt @ 11% K2 0 of Measured Resource, 951Mt @ 11% K2 0 of Indicated Resource and 35Mt @ 10% K20 of Inferred Resource. MiningOther CommoditiesIndustrial Minerals, Danakali (50%) and Eritrean National Mining Corporation (ENAMCO, 50%). 4. Eritrea one of the least accessible countries for humanitarian organisations, Searches, Arrests, and Tension in Eritrea, Eritreas jailed journalist exhibition opens in UK Parliament, Dispute over Patriach splits Norwegian Orthodox church in two, Twenty one years after being jailed, Eritreas independent journalists are remembered in the British Parliament. Potash historical demand trends by region, from this source. endobj Approximately 4 tonnes of Colluli drill core material have been processed at the Saskatchewan Research Council (SRC) in Canada by way of specific bench testing which has been extremely successful. Colluli is only 75km from the Red Sea coast, 87km from a port planned at the Anfile Bay, and 230km from the existing Port of Massawa, making it the SOP deposit closest to a coastline and giving it an advantage over competing projects in neighboring Ethiopia, such as the Yara Dallol project of Yara International ASA (. Additionally, it will provide comprehensive camp services incorporating catering, cleaning, laundry, pest and vector control, grounds keeping and waste management. Status: Design. These alternative producers require substantial lead times to generate their harvest salts for processing. 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. In some cases, depending on the ambient conditions, this process can take over two years. the countrys GDP by 2021 and 50% of the nations exports by 2030, while 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. 3. In 2023, Botswana expects diamond output to decline by 1%. It then plans to distribute 90% of the net proceeds to shareholders and will continue as a listed company to identify new projects and potential new alternative growth opportunities. 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. Pilot tests from the Colluli salts have generated product samples for marketing purposes which are now being distributed to prospective customers. Test work on the Colluli salts has been concluded and the process flow design frozen which indicates the Colluli process using filtered sea water will produce SOP at volumes we expect and at the high-grade spec the world requires. The open-cut, high-grade potash project is being developed by Colluli Mining Share Company (CMSC), a 50:50 joint venture partnership between Australia's Danakali and Eritrean National Mining Corporation (ENAMCO). The project is the only known source of potash that allows extraction of the fertilizer in solid form. SOP in developing regions where the highest rates of population growth are expected, from. The company has completed a front-end engineering design for the production of potassium sulphate, otherwise known as sulphate of potash or SOP. Over 6Bt of potassium bearing salts suitable for the production of potash fertilisers have been identified in the region to date. The front-end engineering and design (FEED) study for the project was completed in January 2018. Eritreas north-eastern and eastern parts have an extensive coastline along the Red Sea, strategically located along the Maritime Silk Road. 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. 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. The stock seems to be agitating for a breakout in recent weeks (Fig. A big economic change will come to eritrea, proud to be an nseritrea. 4). Colluli is located in the Danakil Depression region of Eritrea and is approximately 230km by road south-east of the port of Massawa, which is Eritreas key import/export facility. The benefits of this means we generate cash flow much earlier and more predictably relative to solution mining or brine operations. EuroChem is an outstanding partner with global reach and extensive fertiliser capabilities. 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. Extraction of the salts in solid form is a crucial positive differentiator of Colluli. Eritrea has historically struggled to attract large investments because of its unfavourable business climate. %PDF-1.7 Discover how your business could benefit from a base in Masdar Citys economic free zone, download this free whitepaper. Whilst SOP demand is population growth story it is more of an economic growth story and the African continent is seen to be where the majority of the worlds economic growth will occur in the coming decades. 10). Potash, an important fertiliser, is found in abundance in certain parts of Ethiopia and Eritrea. I have no business relationship with any company whose stock is mentioned in this article. 7. Niels Wage, CEO of Danakali, said: "We are very pleased to announce the appointment of Aggreko as our single power provider. Phase one, involving an estimated capital investment of 220m ($298m), is expected to produce 472,000 tonnes per annum (tpa) of high-quality SOP, while in phase two, the mine is expected to produce up to 944,000tpa of SOP from year six of the project with an additional capital investment of 148m ($202m). BHP officials met with Argentinian authorities this week, expressing interest in increasing investments in the San Juan province. The FEED economic studies envisage the production of 472 Ktpa in module I for development capital of US$302 million and another 472 Ktpa in module II beginning year 6 for additional investment of US$202 million. By. Colluli is owned by the Colluli Mining Share Company, a 50:50 joint venture with the Eritrean National Mining Company. I bought many shares @ 67 Cents per share, total of 240.000.00 Now the share is under 20 Cents. 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,. The total measured, indicated, and inferred SOP mineral resources at the deposit are estimated to be 1.29 billion tonnes grading 11% K2O. 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. 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. 4. By downloading this Whitepaper, you acknowledge that we may share your information with our white paper partners/sponsors who may contact you directly with information on their products and services. It also has access to solar, wind and geothermal energy systems the East African rift. The UN sanction was lifted by the UN in November 2018 under Resolution 2444, by the EU in the following month, and by the U.S. in May 2019.

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