Tag Archives: Mining

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 Outlines Huge Potash Potential on its Africa Doorstep

Danakali has long seen Asia, particularly India, as a prime market. But its most recent presentation indicates that Africa is now also at the forefront of its business thoughts.

BY ROBIN BROMBY | SMALL CAPS

Emerging sulphate of potash (SOP) producer Danakali (ASX: DNK) has passed another key step in Eritrea and now heads for production, not only with Asian markets in mind, but plans to realise huge potential in food-hungry Sub-Saharan Africa. Continue reading Danakali Outlines Huge Potash Potential on its Africa Doorstep

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

Potash – A Game Changer For Eritrea’s Economy

The Colluli potash project has been called a “game-changer” for Eritrea’s economy, as it is expected to become one of the world’s most significant and lowest-cost sources of sulphate of potash (SOP), a premium grade fertilizer.

BY LEON LOUW | ELNAZA NEWS

Potash is an important fertilizer. The Australian company Danakali is developing the Colluli potash project in Eritrea and expects to bring it into production in 2022.

With a growing world population, demand for food will increase, while the availability of arable land is expected to shrink. Potash, an important fertilizer, could be a game-changer for Eritrea and other African countries. Continue reading Potash – A Game Changer For Eritrea’s Economy