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The country also boasts impressive marine tourist sites, a wide range of flora and fauna, and scenic terrain. At a forward P/FCF multiple of 2.6X for Module I (2022-) and 1.3X once Module II comes on-stream in 2028, Danakali appears to be undervalued. 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. 9). At a SOP price of US$650/tonne, annual production would generate revenue equivalent to . Danakali to sell stake in flagship Colluli potash project in Eritrea as being forecasted back in 2015 has been removed from the supply side (Fig. It has a Human Development Index of 0.42, which puts it among the ten least-developed countries on the planet. Additionally, it will provide comprehensive camp services incorporating catering, cleaning, laundry, pest and vector control, grounds keeping and waste management. Colluli is located about 75 kilometres from the Red Sea coast, making it among the most accessible premium potash deposits globally. could rise to almost 944,000 tonnes if Danakali decides to go ahead with a 4 0 obj Fig. I'd like to emphasize that the articles contributed by these authors are the product of their respective independent research and analysis. The Colluli potash project is a low-cost, long-life sulphate of potash (SOP) project under development in Eritrea, Eastern Africa. For the area a high-temperature geothermal reservoir was identified in Alid with estimates of a potential heat of 250 to 300 degrees Celsius. 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. I wrote this article myself, and it expresses my own opinions. Fig. Thank you for your comment. US Level 1 ADR's OTC-DNKLY, CUSIP.23585T101 The world's largest JORC compliant solid salt, Sulphate of . The project will be developed in multi-modules, with Module I serving as a platform for future growth. Posted by Daniel Gleeson on 21st August 2020. (MOP) and gypsum, along with rock salt. What are the best countries for cryptocurrency adoption? With mineralisation commencing at just 16m, the Colluli resource is the shallowest known evaporite deposit globally and is amenable to open-cut mining. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Click to follow this blog and receive notifications of new posts by email. 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. Front End Engineering Design (FEED) strongly confirms Colluli as one of the worlds most economically attractive, and fundable SOP greenfield development project. mine-life. In comparison, Tessenderlo (OTCPK:TSDOF) and Compass Minerals (CMP) have a P/FCF multiple of 10.0X and 20.9X, respectively. Morgan Leighton. 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. Colluli boasts a 1.1Bt Ore Reserve and almost 200-year mine life, shallow mineralisation allowing low-cost open-cut mining, simple, proven, low-cost processing, favourable logistics, expansion, diversification and multi-commodity potential. Potash is the common term for fertiliser forms of the element potassium (K). Colluli is 75km from the Red Sea coast, providing unrivalled future logistics potential. ( source):Danakalihttps://www.danakali.com.au/You can play an important role in investing in a truly once in a lifetime business opportunity. 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. Agnico Eagle's EPS beat expectations; guidance maintained. 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 estimated at US$73/t. Mobile data does not exist. 8. 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;icountries-Eritrea - - | Reverso Context 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. 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. The above advantageous features combine to make Colluli the lowest-cost SOP producer outside of China (Fig. Status: Design. Danakali (DNK) - Technical Analysis. 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. Table 1. 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. Best. Eritrea has a command economy under the control of the sole political party, the People's Front for Democracy and Justice, led by Afwerki. DANAKALI Ltd., Eritrea - Colluli Potash Project | Aktienforum | Aktien .goog-te-menu-value:hover {text-decoration:none !important;} The Colluli potash project is considered one of the world's most significant and lowest-cost sources of sulphate of potash (SOP), a premium grade fertilizer. 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. 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. 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"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. Colluli will be a simple open-cut mining operation utilising truck and shovel methods complemented by continuous surface miners. The project has a 200-year lifecycle and is expected to start operating in 2022. <>/Metadata 306 0 R/ViewerPreferences 307 0 R>> Image courtesy of Danakali. Commonly, Potash refers to Potassium Chloride or Muriate of Potash (MOP), however, a number of other potash variants exist with premium potash types containing micro-nutrients as well as macro nutrients such as potassium sulphate, potassium magnesium sulphate and potassium nitrate. However, China has set its sights on the country and perhaps it will receive large amounts of Chinese FDI in the future. Economic resources for Sulphate of Potash (SOP) production are scarce, and Colluli is favourably positioned to supply the worlds fastest-growing SOP markets. Eritrea has one of the world's most brutal dictatorships, but could a huge potash mine be an economic game changer? Danakali (DNK) - Technical Analysis - Crux Investor .goog-text-highlight {background-color:transparent !important;box-shadow:none !important;} ,and the value is around 67,000.00 . 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. 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. Some people have been in national conscription for more than 20 years. 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. These authors includeSilver Coast Research, , among others. Fig. A United Nations reportpublished last yearsuggested that Colluli could significantly boost Eritreas economy. 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 (. DANAKALI Ltd., Eritrea - Colluli Potash Project | Aktienforum | Aktien Forum | Diskussionsboard | Community von finanzen.at Fig. Australias Danakali (ASX, LON:DNK) said on Thursday it was in the final stages of completing the second phase of developmentof its world-class Colluli potash project in Eritrea, Africa. At mine-gate production costs of US$149-165/t or total cash costs of US$242-258/t, Colluli can be profitable even at the current low SOP price of US$500-650/t. It also has access to solar, wind and geothermal energy systems - the East African rift. taxation and exports, and from jobs and skills and economic development of the Colluli has a JORC-2012 compliant measured, indicated and inferred resource of 1,289 Mt at 11% K20 equivalent and 7% kieserite. World Class Potash Project In Eritrea Moves Closer To Development - Forbes Potash reserves among the world's largest - Economist Intelligence Unit 6. After the Second World War, it was annexed to Ethiopia. 7. Potassium bearing minerals are typically found in areas where ancient inland seas have evaporated leaving behind their minerals. Annual output Sylvinite and carnallitite both produce potassium chloride, which is then combined with decomposed kainitite to form high purity potassium sulphate. Posted by Daniel Gleeson on 21st August 2020. Danakali Limited selling stake in Colluli SOP project in east Africa to It has industry-leading capital intensity, forecast first quartile operating costs, and highly attractive economic returns. The Colluli project is a 5050 joint venture between South Boulder Mines and the government-owned Eritrean National Mining Corporation. Fig. Upon accepting the notice, the ministry, Danakali said, also showed support for the financing of the Colluli project by: Only 1% of the population has access to the internet, according to the World Bank. The FEED economic estimates, from the same source as Fig. The three key objectives set for the second phase of development included updating the capital estimate, project schedule and identifying key test work required to move into Phase 3. The best energy and mining stock ideas with multibagger potential. 2. On the financial front, a key step was taken last month when Danakali, which has a 50-50 joint venture covering Colluli with the government of Eritrea, signed a $200 million funding mandate. The stock chart of Danakali, modified from this source. 3). These circumstances have resulted in it becoming one of the most isolated states in the world. The benefits of this means we generate cash flow much earlier and more predictably relative to solution mining or brine operations. 3 0 obj The Danakil Depression is located in the Southern region of Eritrea and extends over 300km into Eastern Ethiopia. The Colluli potash mine could be an economic game changer for Eritrea but the country is unlikely to undergo an economic transformation as long as Afwerki is in power. 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. The development of the Colluli potash projects coincides 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. .goog-te-banner-frame {display:none !important;} He is an alone, he is DICTATORSHIP! In November 2021, Eritrea also signed a memorandum of understanding with China to join its Belt and Road Initiative. With a growing world population, demand for food will increase, while the availability of arable land is expected to shrink. The appointment of RA International is testament to sound execution of our growth strategy, highlighting continued new business momentum with another significant award in the mining sector., Your email address will not be published. Are the rights of those working on the site ensured, or will they be slaves forced to work on the mine as National Service conscripts? Colluli Potash Project, Eritrea. Mining in Eritrea: could a new potash project spur sustainable growth? Prime Minister Abiy Ahmed accused the Tigrayans of attacking a military camp and attempting to loot military assets. Required fields are marked *. 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. If you continue using our website, we'll assume that you are happy to receive all cookies on this website. The Colluli project requires low upfront development costs and is highly scalable for long-life production. The deposit contains mainly three types of potassium bearing salts including sylvinite, carnallitite, and kainitite. It is estimated that 49% of the population is Christian and a further 49% is Sunni Muslim. 10. Potash, an important fertiliser, is found in abundance in certain parts of Ethiopia and Eritrea. Fig. 9. Colluli is a major sulphate of potash (SOP) project located in Eritrea, Eastern Africa. 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. Italy created the colony of Eritrea in the 19th century around Asmara and gave it its current name. Fertiliser is a key component to ensure world food security in the future. Both are below. Under the terms of the agreement, EuroChem will take, pay, market, and distribute up to 100% of the Colluli sites SOP fertiliser production over a 10-year term, from the Projects date of commissioning. seriously, this Man is a lobbyist of TPLF A group designated as a Terrorist Organisation in Ethiopia.