Colluli is without peer on capital intensity and production capacity with the ability to expand rapidly. Danakali has reported a 1.1 billion ore reserve with a mine life of almost 200 years. Demand for fertiliser is driven by population and economic growth which directly translates to food demand. According to the article below the mine will require 1,115 workers during the construction phase and 600 thereafter. Fig. The stock seems to be agitating for a breakout in recent weeks (Fig. All land is considered state-owned and property rights are non-existent. It has a geographic area of 117,600km2, making it slightly larger than Bulgaria. Last Updated on: 01 December 2022. The country only has one preferential trade agreement in force (with Italy) and is not a member of the World Trade Organisation. The Report was undertaken during 2018 by senior economists on behalf of the UNDP. 10). 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 location of the Colluli potash deposit, from this source. Development is already underway with expected production in 2022. 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 nosedived again in 2017, this time by -10%, before jumping by 13% in 2018. 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 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. 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. Danakali to cash out of Colluli. 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. 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. Located in the Horn of Africa, prolonged periods of conflict and severe drought have had a catastrophic impact on the Eritrean economy and the country is one of the worlds poorest, with income per head estimated at $678 in 2022 (up from $501 in 2010). finished in June, will take the company a step closer to the construction phase In turn the well-defined geological features support our ability to maximise the potential from this the multi salt deposit. On July 9, 2018, a joint declaration of peace and friendship was signed between Eritrea and Ethiopia. The border lands mostly arable are unusable for farming purposes, because of unexploded land mines left over from the war of independence. Required fields are marked *. Status: Design. Our people is poor continue!!!! 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 company's strategy targets the development of a world-class potash project that will become pivotal for global and African agriculture. A Front-End Engineering Design (FEED) study confirmed an advanced stage and economically attractive Project. Potash historical demand trends by region, from this source. The relative location of the Colluli resource to these critical markets gives it a significant logistics advantage and unrivalled access to the potash markets of the future. Eritrea's north-eastern and eastern parts have an extensive coastline along the Red Sea, strategically located along the Maritime Silk Road. endobj Colluli is a major sulphate of potash (SOP) project located in Eritrea, Eastern Africa. 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. 6. This post has been syndicated from a third-party source. According to Reporters Without Borders, only North Korea has less press freedom. 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 considered one of the worlds most significant and lowest-cost sources of sulphate of potash (SOP), a premium grade fertilizer. 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 contains three potassium-bearing salts in solid form, namely. 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. EuroChem is an outstanding partner with global reach and extensive fertiliser capabilities. Colluli, owned 50:50 by Danakali and the Eritrean National Mining Corporation, has a JORC-2012 compliant measured, indicated and inferred resource of 1,289 Mt at 11% K20 equivalent and 7% kieserite. 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. Notify me of follow-up comments by email. We are confident in RA Internationals capabilities to deliver a high-quality product and service.. Additionally, it will provide comprehensive camp services incorporating catering, cleaning, laundry, pest and vector control, grounds keeping and waste management. The above mineral reserves support 215 years of SOP production at 944 Ktpa as envisaged in modules I and II development plan. 7. There are many sources of potassium, including. This project has been viewed 588 times. Colluli is obviously a tier-1 asset, boasting the lowest-costs in the world and >200 years of mine life. It hosts the youngest evaporite deposit and the largest unexploited potash basin in the world. 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. 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. Eritrea has one of the world's most brutal dictatorships, but could a huge potash mine be an economic game changer? The above advantageous features combine to make Colluli the lowest-cost SOP producer outside of China (Fig. But when [Afwerki] discovers that his authority is being questioned after independence, he begins reacting in the same way. Sylvinite and carnallitite both produce potassium chloride, which is then combined with decomposed kainitite to form high purity potassium sulphate. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. The open-cut, high-grade potash project is being developed by Colluli Mining Share Company (CMSC), a 50:50 joint venture partnership between Australias Danakali and Eritrean National Mining Corporation (ENAMCO). Fig. Danakali has a 50% interest in a JV with the Eritrean National Mining Corporation (or ENAMCO), which operates the Colluli project. It is estimated to have about 80,000 archaeological sites. as being forecasted back in 2015 has been removed from the supply side (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. In November 2021, Eritrea also signed a memorandum of understanding with China to join its Belt and Road Initiative. education, gender equality, clean water and sanitation, sustainable economic The Colluli potash deposit is considered to be one of the worlds shallowest evaporite mineralisation with potash resources found just 16m below the surface. DRA Global was selected as the engineering, procurement, construction and management (EPCM) contractor for the project in September 2018. 2. In June 2018, Danakali reached a binding take-or-pay offtake agreement with EuroChem Trading GmbH (EuroChem). (. could rise to almost 944,000 tonnes if Danakali decides to go ahead with a They are in deep need. function doGTranslate(lang_pair){if(lang_pair.value)lang_pair=lang_pair.value;if(lang_pair=='')return;var lang=lang_pair.split('|')[1];if(GTranslateGetCurrentLang() == null && lang == lang_pair.split('|')[0])return;var teCombo;var sel=document.getElementsByTagName('select');for(var i=0;i

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