PERTH (miningweekly.com) – An independent report commissioned by the United Nations Development Programme has found that the Colluli potash project has the potential to significantly boost the Eritrean economy and advance that country’s sustainable development agenda.
“The report reinforces the uniqueness of Colluli. We appreciate the magnitude of the opportunity and the responsibility that comes with developing an asset of this significance with the potential to improve the lives of millions,” said Danakali executive chairperson Seamus Cornelius.
A 2015 feasibility study estimated that the Stage 1 development of Colluli will require a capital investment of $442-million. The study examined a two-module development with an expected production of 425 000 t/y of sulphate potash for the first five years of operation, increasing to 850 000 t/y for the remainder of the proposed 30-year mine life.
“Colluli is much more than a great mining asset. Not only does it have outstanding grade, size, location and simplicity, Colluli’s products will also help farmers and support food security in Eritrea, across Africa and beyond,” said Cornelius.
“The report effectively highlights the alignment between Danakali and our partners in ensuring the project is successfully executed.”