JP Morgan is no stranger to Eritrea and already has an interest in Canada’s Nevsun Resources which operates Bisha, one of the few producing mines (copper-zinc) in the hugely under-developed East Africa country.
Colluli Potash Project in Eritrea: It is the world’s shallowest deposit – the only open pit deposit in the world – the world’s closest to the coast (65Km) potash deposit, and – the lowest mining cost in the industry (US$75 per tonne). Under the new estimation, its mine life has now increased from 50 to 200 years
SOUTH Boulder Mines (ASX:STB) is making steady progress at its Colluli Potash Project in Eritrea, where it is conducting economic assessments and project planning that could confirm its potential to process all salts present.
This includes potassium sulphate, a premium potassium fertiliser which currently carries a price premium of approximately $300 per tonne, is ongoing.
South Boulder Mines (ASX: STB) continues to deliver a positive newsflow from the Colluli Potash Project in Eritrea, with the latest instalment a new high grade potash zone. This discovery comes just a week after the resource almost doubled to 1.08 billion tonnes at 18% KCl for 194 million tonnes of potash, and bodes well for future resource upgrades.
South Boulder Mines (ASX: STB) continues to deliver a string of high grade potash hits from the Colluli Potash Project in Eritrea.
The importance of the first “partial hole assays” returned from upper mineralised zones in 9 holes have confirmed Area B as a significant addition to the Colluli Potash Project, with the results continuing to support the project Exploration Target of 1.25 – 1.75 billion tonnes at 18-20% KCl.