With mineralisation commencing at just 16m, the Colluli resource is the shallowest known evaporite deposit globally and is amenable to open-cut mining. 4. Status: Design. (. 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 Following the agreement, Collulis position as an economically attractive SOP greenfield development project has been reinforced. 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 Project has unrivalled potash product versatility. I bought many shares @ 67 Cents per share, total of 240.000.00 Now the share is under 20 Cents. The Colluli potash mine is estimated to hold 1.1 billion tonnes of SOP ore reserves grading 10.5% potassium oxide (K2O). 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. In June 2018, Danakali reached a binding take-or-pay offtake agreement with EuroChem Trading GmbH. and then onto production in 2022, Danakali said. Fig. Discover how your business could benefit from a base in Masdar Citys economic free zone, download this free whitepaper. Danakali is just one of many deep-value natural resources ideas covered by Laurentian Research. Agnico Eagle's EPS beat expectations; guidance maintained. In food production, potassium is removed from the soil in harvested crops and must be replaced in order to maintain future crop growth. 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). (. Danakali (ASX: DNK) is the 50% owner of the Colluli Potash Project located in Eritrea. Potash, an important fertiliser, is found in abundance in certain parts of Ethiopia and Eritrea. 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. Over 100kg of Colluli product was tested at Ludman Industries in the USA for product compaction behaviour. 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. Wall Street Bulls Look Optimistic About Nutrien (NTR): Should You Buy? The Colluli project is a 5050 joint venture between South Boulder Mines and the government-owned Eritrean National Mining Corporation. 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. 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. DANAKALI Ltd., Eritrea - Colluli Potash Project | Aktienforum | Aktien Colluli - Danakali Limited Climate Change and its Impact on Insurance Market - Thematic Ukraine PESTLE Insights - A Macroeconomic Outlook Report, Germany PESTLE Insights - A Macroeconomic Outlook Report. A United Nations report published in 2019suggested that Colluli could significantly boost the economy of Eritrea. It also contains other fertilizer products, such as muriate of potash (MOP) and gypsum, along with rock salt. 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Italy created the colony of Eritrea in the 19th century around Asmara and gave it its current name. Under the current FEED study for Module 1 and 2, Danakali will be one of the lowest cost SOP producers and with the development of the loading facility at Anfile Bay costs will decrease further as transportation costs are reduced. Mining in Eritrea: could a new potash project spur sustainable growth? Additional details about the agreement are available in the following announcement >>. Danakali Lmited is selling share to China. The deposit is the only one in the world world where SOP can be made from an open-cut mine due to its extreme shallowness. Upon accepting the notice, the ministry, Danakali said, also showed support for the financing of the Colluli project by: - - | Reverso Context The accommodation camp, meanwhile, has been designed to accommodate 600 personnel during the production phase with the flexibility to accommodate 1,115 during the construction phase. .goog-te-menu-value:hover {text-decoration:none !important;} (3) various tools to aid your investment decision making, (4) trade alerts and multiple thematic weekly newsletters and. Danakali closer to getting Eritrea potash project off the ground The removal of Eritrea from the sanction list opened up the country for foreign investments, thus significantly reducing geopolitical risk. Earth Moving Worldwide (EMW) was selected to provide mining services for the Colluli potash project in December 2019. As a matter of fact, Zijin Mining (OTCPK:ZIJMF) acquired Nevsun Resources along with its Bisha zinc-copper mine in Eritrea on December 28, 2018. Across the country, an estimated two-thirds of households are impacted by food insecurity. 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 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). As inflation falls, what can be expected from the Bank of England in the months to come? Enter your email below to receive updates on your featured companies right to your inbox. 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. Colluli has been largely de-risked in terms of. The company expects to start full commercial production in mid-December 2022. Fig. The company expects to start full commercial production in mid-December 2022. Thank you for your comment. 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. The Eritrean government, through ENAMCO, has a 50% interest in the Colluli project. Potash products including SOP, MOP, and SOP-M all have the potential to be produced at Colluli. stream 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. growth and decent work, industry, innovation and infrastructure, reduced The Colluli resource contains kainitite, sylvinite and carnallitite ores. 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. Danakali to cash out of Colluli. Why isn't Europe investing more in recycling plastic. 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. 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. It also has access to solar, wind and geothermal energy systems the East African rift. 3). There are 70 Subscribers monitoring this project. 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. 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 country only has one preferential trade agreement in force (with Italy) and is not a member of the World Trade Organisation. Colluli Potash Project, Eritrea. Colluli is located in the Danakil Depression . A Front-End Engineering Design (FEED) study confirmed an advanced stage and economically attractive Project. Danakali (DNK) - Technical Analysis - Crux Investor Sylvinite and carnallitite both produce potassium chloride, which is then combined with decomposed kainitite to form high purity potassium sulphate. With a growing world population, demand for food will increase, while the availability of arable land is expected to shrink. 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. Eritreas north-eastern and eastern parts have an extensive coastline along the Red Sea, strategically located along the Maritime Silk Road. To open fire on your own disabled [people] is pretty appalling.". 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. In 1993, after a brutal war of independence from Ethiopia lasting almost three decades and led by Isaias Afwerki Eritrea became a sovereign country. Over the past two decades, many hundreds of thousands of Eritreans have fled military conscription and economic uncertainty in their home country and Eritrea has become a major source of migrants and refugees to Europe, in particular to Sweden, Germany and the Netherlands. In addition to these benefits our grade control drilling provides us to approach the open cut mine plan with a high degree of selectivity and certainty. Only 1% of the population has access to the internet, according to the World Bank. "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. A two-and-a-half-year border war between Ethiopia and Eritrea ended in June 2000 and was followed by about eight years of heightened tension and hostility between the two countries. The underapplication of SOP in developing regions where the highest rates of population growth are expected, from this source. It has a Human Development Index of 0.42, which puts it among the ten least-developed countries on the planet. 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. The Colluli Potash Project is located within the Danakil region of Eritrea, approximately 177km south-east of the capital city Asmara. Eritrea has one of the most erratic economies in the world, partly due to chronic drought and highly variable agricultural output: its GDP surged by 31% in 2014 before plummeting by -20.6% in 2015. Since then, potash price has fallen from the neighborhood of US$600/t MOP to as low as USS$200/t MOP by 2017, and has since been fluctuating between US$200/t and US$270/t. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Click to follow this blog and receive notifications of new posts by email. We use them to give you the best experience. It is estimated to have about 80,000 archaeological sites. 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. Disclosure: I am/we are long SBMSF, CMP. The west really needs to let go of calling every developing nation that doesnt bend at its will oppressive. Danakali to sell stake in flagship Colluli potash project in Eritrea 1). On July 9, 2018, a joint declaration of peace and friendship was signed between Eritrea and Ethiopia. 6. In November 2021, Eritrea also signed a memorandum of understanding with China to join its Belt and Road Initiative. The FEED economic estimates, from the same source as Fig. The miner said it would use the remaining cash about $12 million to identify new projects and potential new alternative growth opportunities.. 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. Producer of PDF owned by For personal use only Front End Engineering Design (FEED) strongly confirms Colluli as one of the worlds most economically attractive, and fundable SOP greenfield development project. Danakali to sell stake in flagship Colluli potash project in Eritrea 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. Colluli has been largely de-risked in terms of geopolitics, infrastructure, off-take, and financing, with the module I scheduled to come on-stream in 2022. Colluli Potash Project, Danakil - Mining Technology Colluli is owned by the Colluli Mining Share Company, a 50:50 joint venture with the Eritrean National Mining Company. Reverso Context-: It assesses a wide range of econometric data and includes findings . 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. education, gender equality, clean water and sanitation, sustainable economic A port development at Anfile Bay could assist in unlocking this potential. seriously, this Man is a lobbyist of TPLF A group designated as a Terrorist Organisation in Ethiopia. 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. 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. In the long run, potash consumption is expected to continue to grow as a result of population expansion. It nosedived again in 2017, this time by -10%, before jumping by 13% in 2018. It also contains other fertilizer products, such as muriate of potash (MOP) and gypsum, along with rock salt. Danakali (DNK) - Technical Analysis. The location of the Colluli potash deposit, from this source. Prime Minister Abiy Ahmed accused the Tigrayans of attacking a military camp and attempting to loot military assets. So, as a mining jurisdiction, it has got nothing but ticks in all the right boxes.". <>/Metadata 306 0 R/ViewerPreferences 307 0 R>> M&A: Mining Finance | Mining Journal 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. 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. Has access to the Ethiopian side of the deposit been guaranteed? Construction nears at Colluli potash project following Eritrea ministry Materials handling trials have also been completed to determine the anti-caking requirements for the final SOP product. 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. Only 12% of the total land area is suitable for farming in part due to the countrys rocky and mountainous terrain but also due to a persistent drought that afflicts much of the remaining countryside. The project is the only known source of potash that allows extraction of the fertilizer in solid form. It also provides off-takers with additional confidence on Project certainty and fundability, supporting the finalisation of binding bankable offtake agreements. The project, 50/50 owned by Australian mining company Danakali and the Eritrean Government, is rapidly progressing towards construction. Select LanguageChinese (Simplified)EnglishGerman 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;iAnalysis of the Potential Contributions of Colluli Potash Project to Therefore, the Eritrean government has a strong incentive to see the project be built, in production, and run successfully. 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. With the first production scheduled for 2022, Danakali is well positioned to emerge as a pure-play SOP producer in the coming years, especially considering its low-cost structure (Fig. This article lost credibility in characterizing the country of Eritrea as most oppressive regime. RA International to set up camp at Colluli sulphate of potash mine However, in July 2018, a peace agreement was finally reached between Afwerki and Ethiopias Prime Minister, Abiy Ahmed. The above advantageous features combine to make Colluli the lowest-cost SOP producer outside of China (Fig. 1. 8. In 2023, Botswana expects diamond output to decline by 1%. 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. Unlike North Korea, China or Iran, social media is mostly unregulated, but the biggest problem is access to the internet, which is unreliable and expensive. #goog-gt-tt {display:none !important;} 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. In late 2019, the China Shanghai Corporation for Foreign Economic and Technological Cooperation began constructing part of the 500km road connecting Eritreas Massawa and Assab harbours (both have special economic zones). Despite funding setbacks last year, Danakali says that Colluli, a 50:50 joint venture between Danakali and the Eritrean National Mining Corporation (ENAMCO), is on track for production in 2022. I recommend a book by Martin Plaut, a senior researcher at Londons Institute of Commonwealth Studies and former Africa Editor of the BBCs World Service called Understanding Eritrea: Inside Africas Most Repressive State (https://www.hurstpublishers.com/book/understanding-eritrea-2/).
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