Name and Location
Danakil potash project, Ethiopia.

Client
Circum Minerals.

Project Description
Circum has proven up a major world-class potash project. The exploration licence covers 365 km2 in the Danakil basin, in north-eastern Ethiopia. The project has a measured and indicated resource of 2.6 billion-tonnes of potash salts at depths of 150 m to 400 m. The inferred resource of 1.6-billion tonnes contributes to the total resource of 4.2-billion tonnes of potash salt.

The Phase 1 project plan is to produce two-million tonnes a year of muriate of potash (MoP) and 750 000 t/y of sulphate of potash (SoP).

Beyond Phase 1, Circum envisions that its resources are sufficient to support at least two or possibly three production expansions of similar size, providing it with the ultimate capacity to meet a significant amount of the demand for MoP and SoP in its natural marketing region.

Net Present Value/Internal Rate of Return
Not stated.

Value
Not stated.

Duration
Production is targeted from 2018.

Latest Developments
The Phase 1 definitive feasibility study (DFS) is scheduled to be completed in July 2015. Circum expects the mining licence for the development of the project to be granted in the second half of 2015, once the Ethiopian government has reviewed the DFS. All the technology to be used at the project is of a proven industry standard. Infrastructure development is well advanced.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Circum Minerals, tel +1 441 295 1820, fax +1 441 295 5491 or email info@circumminerals.com.