I'd like to emphasize that the articles contributed by these authors are the product of their respective independent research and analysis. In November 2020, a conflict broke out in the mountainous region of Ethiopia, called Tigray, between Tigrayan forces and the Ethiopian federal troops. 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. Value: R 200 Million+. Potash products including SOP, MOP, and SOP-M all have the potential to be produced at Colluli. 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.. "The analysis of direct impacts of Colluli potash project and its potential contributions to the sustainable development agenda in Eritrea is focused on five main areas," the report states. Fig. 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. Niels Wage, CEO of Danakali, said: "We are very pleased to announce the appointment of Aggreko as our single power provider. 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. 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 above advantageous features combine to make Colluli the lowest-cost SOP producer outside of China (Fig. Visit our privacy policy for more information about our services, how we may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. The deposit is located in the Danakil depression region of Eritrea, about 75km away from the Red Sea coast and 177km south-east of Asmara, the capital city (with a population of 960,000 people). Danakali Limited selling stake in Colluli SOP project in east Africa to Sign up HERE today to benefit from Laurentian Research's in-depth research and the TNRH platform right away! Danakali Limited is a resource company focused on the Colluli SOP (Sulphate of Potash) Project in Eritrea, East Africa. In 2023, Botswana expects diamond output to decline by 1%. The company is yet to secure an additional US$52 million of capital. The border with Sudan was closed until early 2019 because relations were so bad. Installation of an export terminal at Anfile Bay would decrease the length of the land transport route from 230 to only 87 km, thus further lowering the logistics costs required to satisfy the multi-commodity trade in and out of Eritrea. Posted by Daniel Gleeson on 21st August 2020. Proudly Researched by: Melanie Miles. 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. Anyone can write a book, as long as is a white person, you would buy it even a white homeless from NYC. 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. With a growing world population, demand for food will increase, while the availability of arable land is expected to shrink. 1 0 obj Potassium is one of three key fertiliser macro-nutrients essential for healthy soil and plant growth. The Colluli potash deposit is considered to be one of the worlds shallowest evaporite mineralisation with potash resources found just 16m below the surface. According to Reporters Without Borders, only North Korea has less press freedom. It is actually resistant to the wests oppression in the most pure sense of the term. 1). Fig. It is generally used in combination with the other two macro-nutrients, nitrogen and phosphorus, to produce a range of fertilisers, the type used being dependent on the soil to which it will be applied. Colluli, which Danakali shares with the Eritrean National Mining Corporation, is scoped to produce 472,000 tons a year of potash in sulphate (SOP) in its first phase before scaling up to second phase production of 944,000 tons annually. Danakali to cash out of Colluli - Mining Journal development of the project, and the expected significant boost to royalties, 4). In 1993, after a brutal war of independence from Ethiopia lasting almost three decades and led by Isaias Afwerki Eritrea became a sovereign country. Fig. Eritrea is an ancient civilisation dating back thousands of years and was inhabited by early humans. seriously, this Man is a lobbyist of TPLF A group designated as a Terrorist Organisation in Ethiopia. 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 potassium salt composition in the resource provides the option to diversify the potash product suite as the Project grows. 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. The Danakil Depression is located in the Southern region of Eritrea and extends over 300km into Eastern Ethiopia. could rise to almost 944,000 tonnes if Danakali decides to go ahead with a 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 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. Information about Eritrea and the Horn of Africa. function GTranslateFireEvent(element,event){try{if(document.createEventObject){var evt=document.createEventObject();element.fireEvent('on'+event,evt)}else{var evt=document.createEvent('HTMLEvents');evt.initEvent(event,true,true);element.dispatchEvent(evt)}}catch(e){}} .goog-te-menu-value:hover {text-decoration:none !important;} 4. A number of unique characteristics make Colluli one of the world's largest and lowest-cost deposits of SOP. The miner said it would use the remaining cash about $12 million to identify new projects and potential new alternative growth opportunities.. The construction works for the Colluli potash mine are expected to be started in 2021 with the start of production expected in 2022. The project will be developed in multi-modules, with Module I serving as a platform for future growth. The Colluli Potash Project (Project, Colluli) is 100% owned by Colluli Mining Share Company (CMSC,) a 50:50 Joint Venture between Danakali Limited (DNK) and Eritrean National Mining rporation (ENAMCO) Codes: ASX: DNK, SO3-FRA, SO3-BER. The plant administration and services facilities will incorporate administration offices, medical clinic, warehouses, and workshops (see graphic above, credit: RA International). Eritreas north-eastern and eastern parts have an extensive coastline along the Red Sea, strategically located along the Maritime Silk Road. 3). One of the essential benefits of having the salts in solid form is that it takes between 2-3 weeks to mine, process and transport our SOP to Massawa Port. MoEM has shown support for the financing of the project by granting time to begin commercial production (up to mid-December 2022) as well as . "They were only used to getting effectively pocket money and food, lodging and, of course, ammunition and weapons, and they began to turn round and say: 'Well, hang on, we now have to look after our families. In July, the Eritrean Ministry of Energy & Mines paved the way for construction to start at the project after accepting the Colluli Notice of Commencement of Mine Development. 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. The Colluli project is a 5050 joint venture between South Boulder Mines and the government-owned Eritrean National Mining Corporation. Potash demand is largely driven by the need to increase crop production and by improved potash application rates, particularly in developing countries such as Asia, Africa, and Latin America, where potash has been historically under-applied relative to scientifically-recommended levels (Fig. <> Potassium bearing minerals are typically found in areas where ancient inland seas have evaporated leaving behind their minerals. Agnico Eagle's EPS beat expectations; guidance maintained. Potash supply has historically been controlled by production cartels, such as a German export monopoly in the early 1900s, the agreement strategies between German and French producers until 1939, and then oligopolistic competition prevailing on world markets (see here). Eritrea's north-eastern and eastern parts have an extensive coastline along the Red Sea, strategically located along the Maritime Silk Road. Eritrea Archives - International Mining region, chief executive Niels Wagetold MINING.COM last year. Image courtesy of Danakali. phosphorus mines in usa Has access to the Ethiopian side of the deposit been guaranteed? They have significant experience in executing projects of the scale and quality required for the Colluli project. It has a geographic area of 117,600km2, making it slightly larger than Bulgaria. We have recently upgraded our technology platform. Danakali, currently undervalued and standing for a massive re-rating upon the first production, should be considered by risk-tolerant investors with a long time horizon. Apart from SOP, the salt composition at the deposit also allows for the production of other potash products including sulphate of potash-magnesia (SOP-M) and muriate of potash (MOP). endobj Jason Mitchell is a senior editor at Investment Monitor, with a specialisation in emerging markets. The west really needs to let go of calling every developing nation that doesnt bend at its will oppressive. I have no business relationship with any company whose stock is mentioned in this article. Status: Design. Colluli is located in the Danakil Depression . x][sF~w""s)d;9>u^v0@ROcTE&Agdjyr8_N>}\O_,g|yrqKbzlwGouQB b-*dkGO?-M^e1?!;=^RxGN{t2k JSUUSx=ce :jc`s>h. 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. Eritrea was, until 2018, on the UNs sanctions list. The owner and developer of the project is the Colluli Mining Share Company (CMSC), a 50:50 joint-venture between Danakali and the Eritrean National Mining Company (ENAMCO). It thus follows we should keep an eye on emerging potash producers. Materials handling trials have also been completed to determine the anti-caking requirements for the final SOP product. Some abridged samples of my writings are published here, while 4X as many unabridged articles are posted without delay at TNRH, a popular Seeking Alpha Marketplace service, where you also find: (1) a stream of high-alpha actionable investment ideas. Sadly, Eritrea looks set to remain a failed state as long as he is in office. Last Updated on: 01 December 2022. AFC also agreed for an additional 39m ($50m) of strategic equity investment in Danakali in December 2019.
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