Africa Finance Corporation (“AFC” or “the Corporation”) is pleased to announce the accession of the State of Eritrea (“Eritrea”) as its 24th member state. This decision was ratified by His Excellency, Isaias Afwerki, President of Eritrea, on 6 November 2019. Continue reading Eritrea Joins Africa Finance Corporation
The placement takes AFC’s total participation to US$150 million – US$50M in Danakali equity plus US$100M of credit approved Colluli Mining Share Company (CMSC) senior debt – which demonstrates their major and long-term commitment to the project, Danakali and Eritrea.
BY SARAH BUKLEY | AUSTRALIAN MINING
Perth-based potash company Danakali has announced a US$50 million ($73 million) agreement with Africa Finance Corporation (AFC) that will fund the Colluli potash project in Eritrea.
In 2018, Colluli Mining Share Company (CMSC), Danakali and Eritrean National Mining Company’s (ENAMCO) joint venture, secured a US$200 million senior debt facility from AFC. Continue reading Danakali Secures US$50 million Investment from Africa Finance Corporation
Danakali Ltd (ASX:DNK) has announced that Afreximbank has formally granted credit approval to provide a US$42 million guarantee for the construction of power plant for the Colluli Potash Project in Eritrea. Continue reading Danakali Receives Additional $42m Guarantee for Colluli Power Plant
Credit approval is a critical project financing and execution milestone, a strong endorsement for Eritrea and the calibre of the Project.
BY SIMONE LIEDTKE | MINING WEEKLY
Danakali has obtained formal credit approval from the Africa Finance Corporation (AFC) and African Export Import Bank (Afreximbank) to provide the Colluli Mining Share Company (CMSC) with $200-million in senior debt finance. Continue reading Danakali Secured US$200 million for Colluli Potash Project in Eritrea
The Colluli potash deposit in Eritrea could meet the entire world’s demand for 30 years.
BY CECILIA JAMASMIE | MINING[DOT]COM
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 most significant and lowest cost sources of sulphate of potash (SOP), a premium grade fertilizer. Continue reading Danakali to Start Developing Vast Potash Project in Eritrea
BY CECILIA JAMASMIE | MINING.COM
Australia’s Danakali’s (ASX, LON:DNK) said Monday it was about to close debt financing agreements worth $200 million with two African financial institutions, which will allow it fund construction and growth of its flagship Colluli potash project in Eritrea. Continue reading Danakali to Secure $200m Financing for Potash Project in Eritrea