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(Proactive Investors Australia) Danakali makes key appointment for world-class Colluli

Posted by: Semere Asmelash

Date: Monday, 01 May 2017

Danakali makes key appointment for world-class Colluli

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01 May 2017

Colluli is the shallowest known evaporite deposit in the world.

Danakali makes key appointment for world-class Colluli
Danakali held $9.5M in cash at the end of March 2017

Danakali (ASX:DNK) has appointed Tony Harrington as project manager with immediate effect for the construction phase of the world-class Colluli Potash Project in Eritrea.

Harrington has experience with multi-hundred million construction projects.

Paul Donaldson, managing director, commented:

"His extensive project management skills and depth which span across a large range of mineral processing units, commodities and jurisdictions make him an asset to the project as it advances towards construction.

"We also appreciate the support from our Joint Venture partners on this key appointment for the project."

Danakali's 50:50 partner is the Eritrean National Mining Corporation (ENAMCO).

The keys to Colluli

Colluli is the most fundable and economically attractive advanced stage SOP greenfield sulphate of potash (SOP) development in the world.

This is due to outstanding economics, including industry leading capital intensity, bottom quartile operating costs, proximity to coast and key markets and unrivalled product diversification potential.

The project is the shallowest known evaporite deposit in the world.

was completed in February 2017, clearing the way to apply for mining licenses within the Colluli tenements.

Seven mining licenses have also been granted.

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