“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
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
in Danakali shares in March. collapse Continue reading Danakali’s 2022 Potash Target Unlikely, as All Options Sought for Funding
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.
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
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.
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
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.
Danakali’s further US$50 million strategic equity investment from AFC will speed up activities at its world-class Colluli sulphate of potash project (SOP) in Eritrea.
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
Afreximbank has granted a US$42 million credit guarantee for the preferred contractor Inglett & Stubbs International (ISI) towards the construction of Colluli power plant in Eritrea.
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.
Danakali obtained formal credit approval from AFC and Afreximbank to provide the Colluli Mining Share Company in Eritrea with $200-million in senior debt finance.
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