Dehai News

(Proactive Investors Australia) Danakali takes another step forward at world-class Colluli project

Posted by: Semere Asmelash

Date: Wednesday, 31 May 2017

                


31 May 2017

The appointment follows a competitive tendering process.

Danakali takes another step forward at world-class Colluli project
Power provider appointed

Danakali (ASX:DNK) and its 50:50 joint venture partner, the Eritrean National Mining Corporation,  have appointed Inglett and Stubbs International as the preferred power provider for the Colluli Sulphate of Potash Project.

Colluli is a Tier-1 project, located in the East African country of Eritrea.
The project is the most advanced greenfield and lowest cost sulphate of potash (SOP) development project in the world.

The valuation of Danakali has almost tripled over the past 12-motnhs, with the company last trading at $0.76 per share.

Adding interest, a new North American substantial shareholder emerged recently, with The Capital Group Companies, Inc holding a 6.79% stake.

Power provider details

The appointment follows a competitive tendering process utilising a build-own-operate-transfer model.

Paul Donaldson, managing director, commented:

"We are very pleased to have identified ISI as the preferred power provider for the Colluli project and look forward to working with them on refining the proposal and integrating it with the outcomes of the front-end engineering design work.

"We are also very pleased with the close alignment between the DFS estimates and the proposals received."
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Inglett and Stubbs International (ISI) has been appointed as the preferred power supplier for Colluli potash project

PDF
http://www.danakali.com.au/images/stories/axs-announcements/2017/Preferred_Power_Supplier_Appointed.pdf
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Danakali appoints Inglett and Stubbs as preferred power provider
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