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 Mines (ASX: STB) has reached a major milestone in the development of its Colluli Potash Project in Eritrea with the signingof 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.