Danakali is entering the final stage of the EPCM Phase 2 of project development at its Colluli potash project in Eritrea, with completion expected in June 2020.
"The FEED pricing reconfirmation is underway, and we are pleased to have identified several optimisation and cost saving opportunities." - Tony Harrington
ASX- and London-listed potash developer Danakali has commenced a number of work streams as part of the first phase of the engineering, procurement and construction management (EPCM) at its Colluli potash project in Eritrea.
ASX/LSE-listed Danakali has received the proceeds of the first tranche of its US$50 million strategic equity investment from Africa Finance Corporation.
The East African country of Eritrea has become the 24th member state to join the Africa Finance Corporation.
Danakali has entered an agreement with Africa Finance Corporation for a placement of fully paid shares to raise US$50 million.
Danakali is moving its world-class Colluli potash project closer towards development. It also has optionality to expand the product suite.
Danakali has announced that Afreximbank has granted credit approval for preferred power contractor with a US$42 million guarantee.