From: Biniam Haile \(SWE\) (eritrea.lave@comhem.se)
Date: Sun Jul 20 2008 - 10:55:16 EDT
BHP's Ethiopia potash win
Jason McLure
July 21, 2008
BHP Billiton was granted a potash-prospecting licence for a 17,000
square-kilometre area in Ethiopia, its Mines Ministry said. Ethiopia has
undertaken to protect BHP employees against attacks by ethnic Afar or
troops from neighboring Eritrea.
Three British and two French nationals were kidnapped in the Afar region
in March by rebels.
Potash is used in fertilisers and to make cement.
Ethiopia, Africa's biggest coffee producer, is keen to attract
investment into its mining industry to diversify its economy.
It has deposits of gold, platinum, gemstones and other minerals,
according to the the US Geological Survey.
Potash prices may almost double to $US900 a tonne over the next two to
three years amid higher food demand and limited supplies of the soil
nutrient, according to Paul Matysek, chief executive of exploration
company Potash One.
BLOOMBERG
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