Very positive undeniable facts about the Colluli deposit: It is a very large, long life, at surface deposit that is highly amenable to open pit mining methods; It is in close proximity to the Red Sea shipping corridor. Only 75km separates the mine site and the coastline; It is close to existing in country port facilities. Only 180km separates Colluli and the Massawa port in Eritrea and the areas are mostly linked by the unsealed coastal highway; The climate and topography at Colluli and between the deposit and the coast are extremely favorable for an open pit mining Operation, solar evaporation and easy transportation.
, Proactive Investors
SOUTH Boulder Mines’s 50/50 Joing Venture with the Eritrean National Mining Company (ENAMCO) delivered many positives during Fiscal Year 2014.
This included finalisation of the Colluli Mining Share Company (CMSC) shareholders agreement, re-evaluation of resource development options for the project, re-establishing the feasibility study with an alternate development strategy, assigning key consultants to all major work streams and allocation of the transport corridor and land for the product export facility.
Continue reading South Boulder Mines Affirms Sulphate of Potash Production Using Colluli salts
South Boulder seeking finances to develop world’s shallowest evaporite potash deposit in Eritrea
Currently setting up the company that will operate the project in Eritrea, Colluli potash South Boulder Mines is looking for ways to actually finance the scheme.
In all, South Boulder needs
$700 million, including $454 million to invest in building the mine, plant and export infrastructure, including a port.
The open-cast operation involving 1 million tons per year is programmed to last 17 years and achieve an internal rate of return of 40.6%, or a total of
$6.03 billion. Continue reading South Boulder Seeks Finance for Colluli
Colluli Mining Share Company (CMSC) owns exploration tenements spanning over 400km 2 within the Danakil Depression in South East Eritrea.
Colluli Mining Share Company (CMSC) will own and operate the Colluli Potash Project
, ASX Release
South Boulder Mines (ASX:STB) (“ South Boulder“) is pleased to announce the incorporation of (CMSC”). Colluli Mining Share Company
South Boulder and the Eritrean National Mining Corporation (“ENAMCO”) each hold a 50 per cent ownership interest in CMSC, which will own and operate the Colluli Potash Project.
Continue reading Colluli Mining Share Company Incorporated
Australia’s South Boulder Mines signed a 50/50 joint venture agreement with ENAMCO for its Colluli potash project in Eritrea.
, South Boulder
South Boulder Mines (ASX: STB) (“South Boulder” or “the Company”) is pleased to announce that it has completed and signed a Shareholders Agreement with the Eritrean National Mining Corporation (ENAMCO) outlining the key joint venture terms covering the Colluli Potash Project’s development.
The Shareholders Agreement has been signed by the parties and approved by ENAMCO and the South Boulder Board.
The signing of the Shareholders Agreement enables the joint venture company,
Colluli Mining Share Company (CMSC), to be formally incorporated and established. Continue reading South Boulder Seals Eritrean Potash Joint Venture