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). The front-end engineering and design (FEED) study for the project was completed in January 2018. Colluli is located about 75 kilometres from the Red Sea coast, making it among the most accessible premium potash deposits globally. 2). With planned production of 1m tonnes/year of SOP, it will put Eritrea among the topten potash producers in the world. 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. I'd like to emphasize that the articles contributed by these authors are the product of their respective independent research and analysis. Fig. It describes Eritrea as "a dictatorship in which the media has no rights". A United Nations report says that Eritrea's Danakali Colluli potash project has the potential to boost the economy of the country that was removed from the UN's sanctions list only two months ago. Open-cut solid salt mining beats underground solid salt mining, lacustrine brine, and playa brine in operating costs. I think you should research about th e author. products, such as Sulphate of PotashMagnesium (SOP-M), muriate of potash Have the local Afar people been displaced and supplies to their communities cut to allow access to the site? It is strategically important as it has access to the Red Sea, the Suez Canal and to Europe, as well as to the waters of the Persian Gulf and beyond to the Indian Ocean. Discover how your business could benefit from a base in Masdar Citys economic free zone, download this free whitepaper. He covered foreign investment in Latin America for 13 years and for the past three years has lived in sub-Saharan Africa and written widely about the subject from that continent's perspective. providing 10,000 direct and indirect local jobs. The project has the world's. Development Goals (SDGs). Danakali is developing the tier-1 Colluli potash project, Eritrea, which boasts the world's lowest costs and >200 years of mine life. However, in July 2018, a peace agreement was finally reached between Afwerki and Ethiopias Prime Minister, Abiy Ahmed. The company expects to start full commercial production in mid-December 2022. Across the country, an estimated two-thirds of households are impacted by food insecurity. Foreign investment in most business sectors is heavily restricted and state-owned enterprises distort its markets. Materials handling trials have also been completed to determine the anti-caking requirements for the final SOP product. Colluli, furthermore, boasts the shallowest evaporite mineralisation globally and consequently has significant mining, logistics and, in turn, capital and operating cost benefits over other potash development projects in the Danakil Depression and elsewhere. And how is that relevant here, the government has not changed since Dankalis involvement so it was certainly a government worth doing business with at some time. Danakali has a 50% interest in a JV with the Eritrean National Mining Corporation (or ENAMCO), which operates the Colluli project. I wrote this article myself, and it expresses my own opinions. 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. Internal industry and services contribute the majority of the remaining GDP, while agriculture accounts for only 13% (despite employing 80% of the population). Disclosure: I am/we are long SBMSF, CMP. 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. A binding offtake agreement for up to 100% of Module I SOP production, and a US$200M debt financing term sheet have been executed, and all material permits are in place. Due to this change if you are seeing this message for the first time please make sure you reset your password using the Forgot your password Link.
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. "We have found Eritrea to be very transparent and consistent across the board," Seamus Cornelius, Danakali's executive chairman, said in an interview. The United Nations Development Programme (UNDP) has indicated Colluli has the potential to significantly boost the Eritrean economy and have a substantial positive impact on the Sustainable Development Agenda of Eritrea. 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. February 25, 2022. AFC also agreed for an additional 39m ($50m) of strategic equity investment in Danakali in December 2019. I have taken a starter position and plan to build a position of meaningful size in the next couple of years. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The decline is mainly due to a drop in production expected at Barrick Gold's Somilo/Gounkoto mine and B2Gold's Fekola mine. This article lost credibility in characterizing the country of Eritrea as most oppressive regime. It also contains other fertilizer products, such as muriate of potash (MOP) and gypsum, along with rock salt. The Eritrean government, through ENAMCO, has a 50% interest in the Colluli project. 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. The project is the only known source of potash that allows extraction of the fertilizer in solid form. Eritrea has huge tourism potential, but it is hard for foreign visitors to obtain a visa. Over 100kg of Colluli product was tested at Ludman Industries in the USA for product compaction behaviour. The west really needs to let go of calling every developing nation that doesnt bend at its will oppressive. 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). 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% . The FEED economic estimates, from the same source as 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. Niels Wage, CEO of Danakali, said: I am pleased to announce the appointment of RA International as our preferred accommodation and support services contractor. 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. 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. 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. A comparison of the Colluli and competing greenfield SOP development projects in terms of the distance to the export port, from the same source as Fig. 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. The Colluli potash mine is estimated to hold 1.1 billion tonnes of SOP ore reserves grading 10.5% potassium oxide (K2O). Some people have been in national conscription for more than 20 years. Your email address will not be published. 9). The Danakil Depression is an emerging potash province in Eritrea and Ethiopia. In June 2018, Danakali reached a binding take-or-pay offtake agreement with EuroChem Trading GmbH. 86% of retail CFD accounts lose money. Colluli is the premier greenfield development project globally. It assesses a wide range of econometric data and includes findings . 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. 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 $202m. It has industry-leading capital intensity, forecast first quartile operating costs, and highly attractive economic returns. The Danakil salt basin, in Eritrea, is a positively unique example as it is one of only very few known potash deposits where kainite, a sulphate bearing mineral key for potassium sulphate production, is found in solid form. The government will benefit from the longer-term Colluli is located in the Danakil Depression region of Eritrea and is approximately 230km by road southeast of the port of Massawa, which is Eritreas key import/export facility. Sign up HERE today to benefit from Laurentian Research's in-depth research and the TNRH platform right away! Table 1. Italy created the colony of Eritrea in the 19th century around Asmara and gave it its current name. At Colluli, the JORC-2012 compliant mineral resource is estimated at 1,289 Mt at 11% K2O for 260 Mt of contained SOP equivalent. Prime Minister Abiy Ahmed accused the Tigrayans of attacking a military camp and attempting to loot military assets. The Colluli potash deposit is considered to be one of the worlds shallowest evaporite mineralisation with potash resources found just 16m below the surface. "The analysis of direct impacts of Colluli potash project and its potential contributions to the sustainable development agenda in Eritrea is focused on five main areas," the report states. of Eritrea and Ethiopia, which officially declared peace in July 2018. However, the country is home to one of the world's biggest potash deposits which straddles the border with Ethiopia. Click HERE for a free trial now. function GTranslateGetCurrentLang() {var keyValue = document['cookie'].match('(^|;) ?googtrans=([^;]*)(;|$)');return keyValue ? Infrastructure to be developed and upgraded outside the Colluli mining license area includes sea water intake and treatment at Anfile Bay; pipeline and access corridor of 87km between Bay area and the Colluli process plant and the Colluli site road of 57km connecting Colluli to Marsa Fatuma. The JORC-2012 compliant ore reserve estimate at Colluli is estimated at 1,100 Mt at 10.5% K2O for 203 Mt of contained SOP equivalent (Fig. 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. Eritrea had been under UN sanction per Security Council Resolution 1907 since December 23, 2009, for the government's role in aiding Al-Shabaab in Somalia and refusing to withdraw troops from its disputed border with Djibouti following a conflict in 2008. 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. It is estimated to have about 80,000 archaeological sites. The project, 50/50 owned by Australian mining company Danakali and the Eritrean Government, is rapidly progressing towards construction. The 600 person camp capacity is exclusive of camp services personnel, which will have an additional camp, provided by RA, located within the overall camp boundary. Our people is poor continue!!!! It also said that all vendor and contractor packages have now been received. .goog-te-banner-frame {display:none !important;}
According to Reporters Without Borders, only North Korea has less press freedom. Masdar City Free Zone, in the United Arab Emirates capital, offers a hassle-free environment in which companies can operate. 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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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. advance its sustainable development agenda, which are 13 priority Sustainable The project is on the Eritrean side of the border, giving Colluli a significant advantage relative to the other potash development projects in the Danakil Depression, which need to ship from the Tadjoura Port in Djibouti over 790km by road from the closest project on the Ethiopian side of the border.
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