The UN says forced labour and detention without trial are common. There is also potential for kieserite and mag chloride to be commercialized with minimal further processing required. The Eritrean government, through ENAMCO, has a 50% interest in the Colluli project. . I bought many shares @ 67 Cents per share, total of 240.000.00 Now the share is under 20 Cents. Construction nears at Colluli potash project following Eritrea ministry All Eritreans are subject to conscription into the military and can be compelled into forced labour that the UN says effectively abuses, exploits and enslaves them for years". My References:Danakali Ltd:https://www.danakali.com.au/ Interested in supporting this channel: Paypal: PayPal . It also contains other fertilizer products, such as muriate of potash (MOP) and gypsum, along with rock salt. A comparison of Colluli with vertically-integrated SOP producing competitors, from the same source as Fig. Colluli Potash Mine, Danakali Depression, Eritrea, Eastern Africa Below, let's look at Danakali Ltd. (DNK.ASX) (OTCPK:SBMSF) (OTCPK:DNKLY), which operates in Eritrea. A big economic change will come to eritrea, proud to be an nseritrea. function GTranslateGetCurrentLang() {var keyValue = document['cookie'].match('(^|;) ?googtrans=([^;]*)(;|$)');return keyValue ? Image courtesy of Danakali. Producer of Danakali to sell stake in flagship Colluli potash project in Eritrea Some people have been in national conscription for more than 20 years. AFC also agreed for an additional 39m ($50m) of strategic equity investment in Danakali in December 2019. 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. Colluli Potash Project - MBS Environmental Asmara is a beautiful city and awash in colonial Italian architectural gems. body {top:0 !important;} 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. Members of The Natural Resources Hub get exclusive ideas and guidance to navigate any climate. 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. 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. I have taken a starter position and plan to build a position of meaningful size in the next couple of years. Potash reserves among the world's largest - Economist Intelligence Unit / Danakali: Colluli Potash Mining Project Eritrea 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. 10). Eritrea has one of the world's most brutal dictatorships, but could a huge potash mine be an economic game changer? 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. In the long run, potash consumption is expected to continue to grow as a result of population expansion. 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. We use them to give you the best experience. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. 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. Some 7 Mt of potash capacity as being forecasted back in 2015 has been removed from the supply side (Fig. If you have an ad-blocker enabled you may be blocked from proceeding. 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. We need a bit of money.' 6. The shortfall of projected and actual global potash capacity, from this source. EuroChem will purchase the entire SOP output of the Colluli phase one potash project under a 10-year binding off-take agreement signed in June 2018. It also contains other fertilizer products, such as muriate of potash (MOP) and gypsum, along with rock salt. Sadly, Eritrea looks set to remain a failed state as long as he is in office. Colluli is a major sulphate of potash (SOP) project located in Eritrea, Eastern Africa. Danakali Limited is a resource company focused on the Colluli SOP (Sulphate of Potash) Project in Eritrea, East Africa. 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. Fig. I am not receiving compensation for it (other than from Seeking Alpha). 2. I'd like to emphasize that the articles contributed by these authors are the product of their respective independent research and analysis. 03 October 2022. The Colluli project is located in the Danakil Depression region of Eritrea, East Africa, about 75 km from the Red Sea coast. Image courtesy of Danakali. Danakali to start developing vast potash project in Eritrea produce more than 472,000 tonnes a year of Sulphate of Potash. DANAKALI focuses on developing the Colluli potash project in Eritrea, which is wholly owned by Colluli Mining Share Company . The document estimated that Colluli would contribute 3% of () // Colluli Potash Project Eritrea World potash demand has grown at an average rate of 2.5-3.0% per year since 2000 (Fig. The country only has one preferential trade agreement in force (with Italy) and is not a member of the World Trade Organisation. of Eritrea and Ethiopia, which officially declared peace in July 2018. Best. phosphorus mines in usa Open-cut mining is a proven mining method for salts, and its safer and more cost-effective than underground mining which allows for better overall resource recovery. The company expects to start full commercial production in mid-December 2022. 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. The Danakil Depression is located in the Southern region of Eritrea and extends over 300km into Eastern Ethiopia. Eritrea has a command economy under the control of the sole political party, the People's Front for Democracy and Justice, led by Afwerki. The resource contains 303Mt @ 11% K2 0 of Measured Resource, 951Mt @ 11% K2 0 of Indicated Resource and 35Mt @ 10% K20 of Inferred Resource. Simplified process flow for the production of SOP from the Colluli resource, from this source. Fig. 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. Phase one, involving an estimated capital investment of 220m ($298m), is expected to produce 472,000 tonnes per annum (tpa) of high-quality SOP, while in phase two, the mine is expected to produce up to 944,000tpa of SOP from year six of the project with an additional capital investment of 148m ($202m). Colluli is located in the Danakil Depression region of Eritrea and is approximately 230km by road south-east of the port of Massawa, which is Eritreas key import/export facility. Economic resources for Sulphate of Potash (SOP) production are scarce, and Colluli is favourably positioned to supply the worlds fastest-growing SOP markets. A United Nations reportpublished last yearsuggested that Colluli could significantly boost Eritreas economy. This project has been viewed 588 times. 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 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. Eritrea's potash mining takes shape but questions remain We are confident in RA Internationals capabilities to deliver a high-quality product and service.. Eritrea's north-eastern and eastern parts have an extensive coastline along the Red Sea, strategically located along the Maritime Silk Road. second phase of development, as the project has a possible 200-year plus I am not receiving compensation for it (other than from Seeking Alpha). BHP officials met with Argentinian authorities this week, expressing interest in increasing investments in the San Juan province. The country also has 486,200 refugees, including 123,413 living in Sudan, 172,750 in Ethiopia and 18,976 in Egypt. For the area a high-temperature geothermal reservoir was identified in Alid with estimates of a potential heat of 250 to 300 degrees Celsius. In 2019, the country received only $67.1m in foreign direct investment (FDI) inflows against $61m in 2018, according to the World Bank. Business intelligence for leaders in foreign direct investment. In 1993, after a brutal war of independence from Ethiopia lasting almost three decades and led by Isaias Afwerki Eritrea became a sovereign country. The project will be developed in multi-modules, with Module I serving as a platform for future growth. What are my chances of getting my money back? The total measured, indicated and inferred SOP mineral resources at the deposit are estimated to be 1.29 billion tonnes grading 11% K2O. It hosts the youngest evaporite deposit and the largest unexploited potash basin in the world. Finance > M-a. They are in deep need. 2 0 obj Whilst SOP demand is population growth story it is more of an economic growth story and the African continent is seen to be where the majority of the worlds economic growth will occur in the coming decades. Colluli is positioned very close to vital potash markets. To open fire on your own disabled [people] is pretty appalling.". 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. This post has been syndicated from a third-party source. 11). and then onto production in 2022, Danakali said. Fig. Afwerki's critics accuse him of using the long-standing border dispute with Ethiopia to avoid implementing Eritreas constitution which was ratified in 1997 and for postponing the first scheduled elections (which were also due in 1997). The Colluli resource contains kainitite, sylvinite and carnallitite ores. 86% of retail CFD accounts lose money. Colluli is located in the Danakil Depression . Colluli has significant multi-commodity potential presenting major additional value upside. advance its sustainable development agenda, which are 13 priority Sustainable 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. 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. 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. The Colluli potash project is a low-cost, long-life sulphate of potash (SOP) project under development in Eritrea, Eastern 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. 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.
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