Tag Archives: Danakali

Danakali’s 2022 Potash Target Unlikely, as All Options Sought for Funding

chances Danakali bringing Colluli potash into production by 2022 are diminishing
“Meeting the 2022 production target date depends on Danakali closing out funding and starting construction early in 2021. However, given that we are coming to the end of 2020, the chances of us bringing Colluli into production in 2022 are diminishing.” – Mr. Seamus Cornelius, Chairman

BY DAVID McKAY | MININGMX

The chances of Danakali building up to full potash production from its Colluli project in Eritrea on schedule were “diminishing”, said the firm’s chairman, Seamus Cornelius.

Commenting in his annual review, Cornelius was blunt in his assessment following the collapse in Danakali shares in March. Continue reading Danakali’s 2022 Potash Target Unlikely, as All Options Sought for Funding

Danakali Shares Drop After Second AFC Loan Set to Fall Through

Danakali share price drops 7.5 percent today after the company says no tranche 2 AFC funding ($28.5 million) before the deadline.

AFC is in discussion with Danakali with a view to finding a funding structure suitable to both parties that will ensure the commencement of construction of the project as soon as possible.

BY CECILIA JAMASMIE | MINING[dot]COM

Shares in Australia’s Danakali (ASX, LON:DNK) fell 7.5% to 31 Australian cents on Monday after the miner, which is trying to bring a potash project in Eritrea closer to construction, said its second loan tranche from the Africa Finance Corporation (AFC) was set to fall through. Continue reading Danakali Shares Drop After Second AFC Loan Set to Fall Through

Danakali Aims Funding the Balance Required to Bring Colluli into Production

As COVID-19 restrictions are relaxed in Eritrea and it now has access to Colluli, the company can prepare for construction.

Danakali aims to close the required financing in the remainder of 2020 to bring the Colluli Sulphate of Potash project into production. Colluli remains on track for production in 2022.

BY RACHEL MIDDLETON | PROACTIVE INVESTORS

Danakali Ltd (ASX:DNK) (LON:DNK) (OTCMKTS:SBMSF) will continue to focus on closing the required financing and progressing with project development of the Colluli Sulphate of Potash Project in Eritrea during the remainder of 2020. Continue reading Danakali Aims Funding the Balance Required to Bring Colluli into Production

Eritrea Approved Colluli Project Development Plan

Danakali has been given the final green light from the Eritrean Ministry of Energy and Mines to develop its world-class Colluli potash project

In accordance with the mining agreement, the Colluli Mining Share Company (CMSC) has 36 months from the submission of the approved notice (notice of commencement of mine development) to spend US$200 million within the mining license area.

BY TESFANEWS *

Australia’s Danakali (ASX, LON:DNK) is closer to getting its Colluli potash project off the ground after the Eritrean Ministry of Energy & Mines (MoEM) accepted the company’s development plan for the mine. Continue reading Eritrea Approved Colluli Project Development Plan

Danakali Finished First Phase of Eritrea Potash Project

This takes Colluli closer to the construction phase and then into production in 2022

Colluli Mining Share Company (CMSC) has successfully executed EPCM Phase 1 of Project development, on schedule, on budget and in line with the Front-End Engineering Design (FEED).

BY CECILIA JAMASMIE | MINING DOT COM

Australia’s Danakali (ASX, LON:DNK) has finished the first phase of development of its world-class Colluli potash project in Eritrea, Africa, which takes the company a step closer to the construction phase and then onto production in 2022. Continue reading Danakali Finished First Phase of Eritrea Potash Project

Danakali Begins Work at Colluli Potash Project

EPCM contractor DRA Global has started project management activities and mobilized its own engineering group for the process plant and associated infrastructure work.

Danakali begins work to get Eritrean potash project off the ground.

BY JOHN MILLER | PROACTIVE INVESTORS

Danakali Ltd (ASX:DNK) (LON:DNK) has started the first phase of the Engineering, Procurement and Construction Management (EPCM) process at Colluli Sulphate of Potash (SOP) Project in Eritrea. Continue reading Danakali Begins Work at Colluli Potash Project