Allana Potash issued mining license for Ethiopian potash project

09 October 2013 20:36  [Source: ICIS news]

HOUSTON (ICIS)--Allana Potash received its mining license for its Danakhil Potash Project in Ethiopia, the Canadian fertilizer producer announced on Wednesday.

Allana said the approval for mining activities came after a review of its feasibility and environmental impact studies by the Ethiopian Ministry of Mines. The company will now complete the final portion of the development phase for the project and move directly to contracting and construction operations.

The Danakhil Potash project compromises 312 sq km in northeastern Ethiopia, with the company projecting that up to 1m tonnes/year of potash could be produced using solution mining and solar evaporation techniques. Total capital expenditures for the project are projected at $642m (€475m).

The company said that the Ethiopian government has committed to exploring future infrastructure improvements to the project site and recently received a commitment from Chinese companies to construct additional railway in the country, which would improve access to the Danakhil region.

“Allana is proud to have achieved this major milestone in the development of the project and very much appreciate the extensive work done by Ethiopian government staff and Allana’s consultants and employees in reaching this goal. Allana is now positioned as one of the leading mining companies in Ethiopia,” said Farhad Abasov, Allana CEO.

($1 = €0.74)


By: Mark Milam



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