Tag Archives: Colluli Mining Share Company

CMSC Signs Mining Agreement with Eritrean Government

Mining Agreement between Colluli mining share company and Eritrea
The Agreement area covers approximately 100km2 and covers the entire Colluli resource which includes a JORC-2012 Mineral Resource estimate of 1.3 billion tonnes of potassium bearing salts, an Ore Reserve estimate of over 1.1 billion tonnes, a rock salt Mineral Resource estimate of over 300 million tonnes and a kieserite (magnesium sulphate) Mineral Resource estimate of over 80 million tonnes.

By Danakali Ltd,

Danakali Limited (ASX:DNK) is pleased to announce that the Colluli Mining Share Company (“CMSC”) has entered into a Mining Agreement with the Eritrean Ministry of Energy and Mines.

CMSC is a 50:50 Joint Venture between Danakali Limited and the Eritrean National Mining Corporation (“ENAMCO”) and owns 100% of the world class Colluli Potash Project. Continue reading CMSC Signs Mining Agreement with Eritrean Government

Eritrea Awards Mining Licenses for World Class Colluli Project

Danakali has achieved a significant milestone by having been awarded all seven of the mining licences it applied for at its world class Colluli Potash Project in Eritrea.

The award of mining licenses follows the signing of a mining agreement with the Eritrean government providing exclusive access over the 1.3 billon tonne potash deposit.

By Danakali Ltd,

Danakali Limited (ASX:DNK) is pleased to advise that the Colluli Mining Share Company (“CMSC”) has been awarded Mining Licenses for the exploitation of mineral resources within the Colluli tenements. This follows the signing of a Mining Agreement between CMSC and the Eritrean Ministry of Energy and Mines.

The Mining Agreement provides exclusive access to CMSC over the 1.3 billon tonne Colluli JORC-2012 compliant potassium resource and associated minerals. CMSC applied for, and were awarded seven mining licenses which span over 60km2 of the 100km2 Agreement area, and represent over 60 years of the 200-year mine life determined in the definitive feasibility study (“DFS”). Additional licenses can be applied for within the Agreement area as required to sustain and/or grow operations. Continue reading Eritrea Awards Mining Licenses for World Class Colluli Project

South Boulder Strikes a 50/50 Profit Sharing Agreement with ENAMCO

The agreement represents a major milestone in the development of the
Project

By Bevis Yeo,

South Boulder Mines (ASX: STB) has reached a major milestone in the development of its Colluli Potash Project in Eritrea with the signing of a binding term sheet agreement with the Eritrean National Mining Corporation (ENAMCO).

Importantly, the agreement provides significant certainty as to the economic and fiscal basis under which the project can be developed, assisting the company in its ongoing discussions with potential strategic investors.

The signing of a binding term sheet with ENAMCO is a significant milestone for STB,” South Boulder chief executive officer Paul Donaldson said.  Continue reading South Boulder Strikes a 50/50 Profit Sharing Agreement with ENAMCO