- Danakali (DNK) has been given the green light from Eritrean Ministry of Energy & Mines (MoEM) to develop its Colluli Project in Eritrea, East Africa
- This approval takes Danakali another step forward into developing the world-class sulphate of potash (SOP) project
- Additionally, MoEM has shown support for the project’s financing by approving its account structure and consenting to grant security
- Danakali remains steady on the market close today and is trading for 46 cents per share
Danakali (DNK) has been given the green light to develop its Colluli Project in Eritrea, East Africa.
The approval came from the Eritrean Ministry of Energy & Mines (MoEM), which takes Danakali another step forward into developing the world-class sulphate of potash (SOP) project.
MoEM has also granted permission to construct and develop outside the mining license area. This includes seawater intake and treatment area at Anfile Bay and a 57-kilometre road.
Additionally, MoEM has shown support for the project’s financing by approving its account structure and consenting to grant security.
Colluli Mining Share Company (CMSC) has previously obtained all licenses and permits within the Colluli mining licence.
“I am pleased to report that the Eritrean Ministry of Energy & Mines has formally accepted CMSC’s Notice of Commencement of Mine Development,” CEO Niels Wage said.
“This year, the project team has made significant progress through the management of DRA during phase one and two of the engineering, procurement, construction management (EPCM) works and most recently by commencing the necessary test works, enabling us to maintain forward momentum of the project development,” he added.
Danakali remains steady on the market close today and is trading for 46 cents per share.