The Colluli deposit comprises a massive JORC-2012 compliant Ore Reserve estimate of 1,100Mt @ 10.5% K2O for 203Mt of contained SOP equivalent, providing a mine life of almost 200 years. Net to Danakali's 50% interest, Module I is projected to generate NPV-10 of 242 million, on average delivering an undiscounted FCF of US$43 million per year, with a post-finance IRR of 29.7%; module I&II is projected to generate NPV-10 of 439 million, on average delivering an undiscounted FCF of US$85 million per year, with a post-finance IRR of 31.3% (Table 1). Danakali is just one of many deep-value natural resources ideas covered by Laurentian Research. The report also identified how the mine could help Eritrea BHP officials met with Argentinian authorities this week, expressing interest in increasing investments in the San Juan province. Mobile data does not exist. About 55% of the Eritrean population is Tigrinya while 30% is Tigre, but there are a number of other smaller ethnicities including Saho and Kunama. Eritrea was, until 2018, on the UNs sanctions list. Danakali explored the use of filtered seawater at Colluli. Only 1% of the population has access to the internet, according to the World Bank. As part of the agreement with CMSC, owned 50:50 by Danakali and the Eritrean National Mining Corporation, RA will supply, deliver and install a mine accommodation camp as well as a plant administration and service facilities for the Colluli mine site. I bought many shares @ 67 Cents per share, total of 240.000.00 Now the share is under 20 Cents. products, such as Sulphate of PotashMagnesium (SOP-M), muriate of potash Reminders. Is this happening to you frequently? Plus500. In July 2013, major producer Belaruskali broke up with former Belarusian Potash Company cartel partner Uralkali, and in a move to grab market share, signed a potash sales contract for the Chinese market at US$315/t MOP. DANAKALI Ltd., Eritrea - Colluli Potash Project | Aktienforum | Aktien Forum | Diskussionsboard | Community von finanzen.net 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. 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. 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. 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 fertilizer. 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. 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. All land is considered state-owned and property rights are non-existent. The Danakil Depression that commences in Eritrea and extends up to 300km into Ethiopia, is believed to contain more than six billion tonnes of potassium bearing salts. endobj 9). In 2023, Botswana expects diamond output to decline by 1%. World potash demand has grown at an average rate of 2.5-3.0% per year since 2000 (Fig. Potash products including SOP, MOP, and SOP-M all have the potential to be produced at Colluli. 7. Development is already underway with expected production in 2022. The SOP quality spectrum, from the same source as Fig. Fig. Phase one involving an estimated capital investment of $298m is expected to produce 472,000 tonnes (t) a year of high-quality SOP, while in phase two, the mine is expected to produce up to 944,000t of SOP from year six of the project with an additional capital investment of $202m. It also contains other fertilizer products, such as muriate of potash (MOP) and gypsum, along with rock salt. By. For the area a high-temperature geothermal reservoir was identified in Alid with estimates of a potential heat of 250 to 300 degrees Celsius. Simplified process flow for the production of SOP from the Colluli resource, from this source. Invest in t. Status: Design. The Colluli project is located in the Danakil Depression region of Eritrea, East Africa, and is ~75km from the Red Sea coast, making it one of the most accessible potash deposits globally. #google_translate_element2 {display:none!important;} Upon accepting the notice, the ministry, Danakali said, also showed support for the financing of the Colluli project by: 03 October 2022. Eritrea is bordered by Sudan in the west, Ethiopia in the south and Djibouti in the south-east, and it has a 1,150km coastline along the Red Sea. Prime Minister Abiy Ahmed accused the Tigrayans of attacking a military camp and attempting to loot military assets. Internal industry and services contribute the majority of the remaining GDP, while agriculture accounts for only 13% (despite employing 80% of the population). The project has been largely derisked with regard to geopolitics, infrastructure, off-take, and financing. 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. Fig. Potash is an important fertiliser. 5). Flour was awarded the FEED contract for the Colluli potash project in January 2017. taxation and exports, and from jobs and skills and economic development of the Bloomberg News | December 23, 2022 | 7:38 am Premium Nickel aims to re-open Selebi mine in Botswana The Selebi south deposit has a resource of 11.28 million tonnes grading 0.98% nickel and 1.9% . Colluli is positioned very close to vital potash markets. 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 (. US Level 1 ADR . endobj 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. A port development at Anfile Bay could assist in unlocking this potential. Our people is poor continue!!!! In some cases, depending on the ambient conditions, this process can take over two years. I have taken a starter position and plan to build a position of meaningful size in the next couple of years. This long-lasting tension has led to Eritrea's militarisation. Colluli is the premier greenfield development project globally. The construction works for the Colluli potash mine are expected to be started in 2021 with the start of production expected in 2022. According to the article below the mine will require 1,115 workers during the construction phase and 600 thereafter. Proudly Researched by: Melanie Miles. As inflation falls, what can be expected from the Bank of England in the months to come? The removal of Eritrea from the sanction list opened up the country for foreign investments, thus significantly reducing geopolitical risk. could rise to almost 944,000 tonnes if Danakali decides to go ahead with a On July 9, 2018, a joint declaration of peace and friendship was signed between Eritrea and Ethiopia. Looking for a helping hand in the market? 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. Fig. In the long run, potash consumption is expected to continue to grow as a result of population expansion. The country only has one preferential trade agreement in force (with Italy) and is not a member of the World Trade Organisation. The benefits of this means we generate cash flow much earlier and more predictably relative to solution mining or brine operations. Agnico Eagle's EPS beat expectations; guidance maintained. 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. Colluli has been largely de-risked in terms of. Reverso Context-: SOP in developing regions where the highest rates of population growth are expected, from. 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. 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. Afwerki has become close to Abiy and is a sworn enemy of the Tigray Peoples Liberation Front, which ruled Ethiopia when the two countries fought a border war. Although the total productive life is estimated to be approximately 200 years, the current plan calls for the development of the mine in two stages to support an initial operational life of 60 years. and then onto production in 2022, Danakali said. The stock chart of Danakali, modified from this source. "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. 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. This post has been syndicated from a third-party source. 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. Niels Wage, CEO of Danakali, said: I am pleased to announce the appointment of RA International as our preferred accommodation and support services contractor. The resource contains 303Mt @ 11% K2 0 of Measured Resource, 951Mt @ 11% K2 0 of Indicated Resource and 35Mt @ 10% K20 of Inferred Resource. These include: No poverty, zero hunger, quality 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 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. 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. Image courtesy of Danakali. This geographical advantaged is unique. "We have found Eritrea to be very transparent and consistent across the board," Seamus Cornelius, Danakali's executive chairman, said in an interview. The Eritrean government, through ENAMCO, has a 50% interest in the Colluli project. % Danakali Limited is a resource company focused on the Colluli SOP (Sulphate of Potash) Project in Eritrea, East Africa. 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. Fig. .goog-text-highlight {background-color:transparent !important;box-shadow:none !important;} Danakali has a 50% interest in a JV with the Eritrean National Mining Corporation (or ENAMCO), which operates the Colluli project. 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. The document estimated that Colluli would contribute 3% of The Colluli process is expected to generate a product with a purity of 94.5%. The potassium salt composition in the resource provides the option to diversify the potash product suite as the Project grows. If you continue using our website, we'll assume that you are happy to receive all cookies on this website. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 594.96 842.04] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> According to the UNDP report entitled "Analysis of the potential contribution of Colluli potash project to sustainable development goals in Eritrea," Colluli is estimated to attract US$614 million of direct capital investment, generate 3% of Eritrean GDP once module I is up running, and account for 50% of Eritrean Exports by when module II is on stream.

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