Dehai News

(TradeArabia) Essel signs up drilling contractor for Eritrea project

Posted by: Biniam Tekle

Date: Monday, 09 October 2017


Essel signs up drilling contractor for Eritrea project

DUBAI, 2 days ago

Essel Group, a leading Indian multinational conglomerate, said its Middle Eastern unit has signed up Colonnade Mining Group as the drilling contractor for its Bada potash project located in the northern Danakil region of Eritrea, East Africa.
 
Essel Group ME Limited (Egme) said the drilling programme will see the boring of five holes, each 200 m deep with a vertical incline or 75 degree angle. 
 
Core samples will be sent to an external laboratory for analysis to examine the occurrence of evaporate strata beneath the overburden layer. This will build on previous testing, providing Egme with a better understanding of Bada’s geology and potash-bearing potential. 
 
Egme’s subsidiary, Interu Mining, has signed a contract with Colonnade under which the latter will carry out a core sample drilling programme at Bada, marking a significant step in the project’s development. 
 
Colonnade will supply the drill and necessary equipment, with mobilization of the equipment already underway, said the company in a statement.
 
Colonnade has instructions to commence drilling by the third week of October, for an expected period of 30 days, it added. 
 
Punkaj Gupta, the joint managing director and Group CEO, Essel Group ME, said: "I am very pleased to be partnering with Colonnade, a leading drilling contractor in the region, at this exciting time for Bada. The core sample drilling programme marks a key milestone for the project, and will provide us with enhanced data to help fully understand the asset’s geology and potential."
 
Egme, he stated, is seeking further opportunities to invest in forward international integration in the potash industry, particularly in Turkey and India, due to the commodity’s strong long-term fundamentals. 
 
"I am extremely excited about Bada’s prospects and its scope to possess significant potash resources and reserves. Its favourable geographical location and proximity to both transport infrastructure and key end users make this project even more promising. I look forward to providing further updates once the drilling programme and core sample analysis have been completed," he added.-TradeArabia News Service 


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