Initiation: Shallow, port-accessible Eritrean potash
South Boulder’s 50%-owned Colluli potash project in Eritrea is at a key juncture. The project has been redefined by new management to present a premium value product, optimising kainite, sylvinite and carnallite resources. The nature of the resource and method of production points to favourable cost economics. The project is logistically well placed for its target export markets. A PFS in February and a DFS during 2015 will flesh out the technical, cost and operational aspects, following which we will be able to make a valuation assessment of the asset. Financing requirements for the project, as yet undefined, will be via a mix of debt and equity. In this note, we review the resource base and market for potash as they relate to the Colluli project.Danakali is engaged in the exploration and evaluation of mineral resources including the development of the Colluli Potash Project in Eritrea, East Africa. The project is owned by the Colluli Mining Share Company, which is a joint venture between Co. and the Eritrean National Mining Company.
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